Common Questions and Answers About Mortgages and Lenders
Where can I find out more about a lender?
We have several suggestions:
How do I learn about lender licensing or certification?
Most states require mortgage companies to obtain a license to conduct business within its borders. In addition, many states provide public access to this information. We have compiled a list of states with mortgage license lookup available to the public.
How do I get a competitive loan interest rate?
Similar to purchasing any item, the best way to get a good rate is to shop around, while keeping in mind that there are other attributes to a mortgage loan than just the interest rate. CityTownInfo helps you find the best mortgage for you by offering a multiple rate quote service (just fill out the form in the left column). Thousands of mortgage shoppers have used this service to help them find the right lender for them.
How do I go about looking for a mortgage and a lender?
WeӶe prepared a complete article on how to shop for a mortgage, including how to prepare for the process, things to watch out for, what type of mortgage might suit your needs and more.
How much of a loan can I afford?
There are several factors that go into determining how much debt you should take on when buying a home. Please read our full article on how much house you can afford on our web site.
How do ARM (adjustable rate) loans work?
An adjustable rate mortgage is one that starts out at one interest rate (usually a lower rate than a fixed rate loan) but adjusts (often increases) after a certain period of time. Read our complete article on ARMs.
Subprime, Alt-A, Interest-Only... what do these terms mean?
Check out our mortgage glossary or, for more detail, our articles on these topics: