Sometimes so much is talked about how to solve the problem of having
bad credit, but what about when you have an excellent credit rating?
Good credit is considered to be a credit score of 650 or higher. How
can you get the best interest rate and loan terms to make your good
credit history work for you? Even with excellent credit, you have to be
careful not to get talked into a loan that may not be the best one you
could qualify for.
Here are some tips to help you find the best loan for your great credit history:
1. Apply with as many mortgage companies online that will provide you
with more than one quote per application, as long as they will not pull
your credit with your application. If you are about to start applying
for a mortgage, you don't want to have your credit pulled until you
have narrowed down which mortgage company you want to work with. Every
time your credit is pulled, your FICO credit score drops.
2. Talk to your lender about closing costs. If you have excellent
credit, the lenders should be falling over themselves to get you a
loan. Ask for special treatment. Find out what fees your broker or
lender may be able to reduce or remove from your closing costs. Find
out if they will match lower fees offered by another lender.
3. Make sure your lender is offering you excellent customer service.
Are they returning your calls quickly? Are they answering all of your
questions to your satisfaction? Have they thoroughly researched all of
your loan options and offered you more than one possibility? If they
haven't, you should probably look somewhere else. With good credit, you
have no reason to be a quick, easy sale for a lender.
4. Research interest rates, mortgage information and articles online so
that when your lender offers you a loan package, you will know about
the fine print ahead of time. Whether you are purchasing for the first
time or refinancing, it will help you to understand more about the
mortgage process.
To view our list of recommended purchase or refinance mortgage
companies online, visit this page:
http://www.abcloanguide.com/mortgageloans.shtml.
