Mortgage Roadmap Tips

Tip #1

When you think about your future budget as a homeowner, be sure to include money for maintenance. Experts recommend setting aside between 1 and 3 percent of the market value of your house annually for maintenance.

Tip #2

Savvy borrowers compare three or more lenders before making a decision about who will handle their mortgage. You'll want to compare rates, fees, and points, which you can easily do on Zillow Mortgage Marketplace, but you will also want to ask some other questions. Don't be afraid to ask: Lenders know you have options, so being forthright should not be a problem.

Tip #3

How to choose the best lender? The best and time-proven way is to network. Ask your friends and read borrower reviews and ratings, including Zillow Mortgage Marketplace's ratings; if someone else had a good experience (or bad) that is news you can use. And ask for mortgage broker recommendations as well as lenders. Sometimes the brokers can find the best rates.

Tip #4

Don't put too much faith in a Good Faith Estimate. It is just that — an estimate made in good faith. There is nothing in it that says unseen fees can't creep in at the last minute.