(This is Part 2 of a two-part series. See part 1.) This is the second of two articles on the characteristics of good mortgage brokers. A good broker will not quote lowball prices: Accurate pricing depends on a number of borrower, property and transaction characteristics. If these are not known or not used, the price cannot be accurate. Loan originators who quote the best prices possible -- and sometimes even better than the best possible -- with the intent of roping in the customer are lowballing. Avoid any broker who quotes a price without first quizzing you about loan size, down payment, loan purpose, type of property, use of property, state, credit score, and documentation of income and assets. Don't tempt a broker to lowball by requesting a price on the telephone. A good b...
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