Thanks everyone. Yeah, we're running our own #s to make sure our monthly housing costs stay well within our budget and still allow for retirement savings, etc. So we anticipate we'll get approved for higher than what
we think we can comfortably afford.
If I got this right, then, we get a pre-approval first, look for the house, sign a contract,
then shop for the loan. Once we pick our lender/loan, that's when we "lock" the interest rate, right?
Another question . . . how can we find out which lenders offer the new conforming-jumbo loans (30yr fixed)? I notice the rates advertised in the Sunday paper don't usually list those rates. Are most lenders not offering them and, if not, how do we find out who does -- just call everyone and ask?
Finally, though I wasn't planning to try Lending Tree based on what I've read on these boards, how do you know who a good lender is (internet or otherwise)? Is there a website that reviews various companies, or do we just come back here and ask you folks if Company X is reputable?
Thanks again!
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getting preapproved
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