Looks like I found something to blog about
My husband and I tried to get a mortgage for a house over a year ago. We went through two different companies in South Jersey. The first company took about $500 and after assuring us we were clear for a regular loan, called to say we only qualified for an 85/15 loan. It means that the mortgage company was only going to pay 85% of the loan amount and our down payment had to be the other 15%. We were looking at a house that was only $70K, but that is still an outrageous amount of money for a down payment. The other company LIED to get us a loan *we found out later*, ruined our credit, took more money, and left us battered from the experience. We learned our lesson. If we decide to try and get another loan, after we fix our credit, we are going through a more reputable company.
If you are looking into loans and things, make sure you check all over for information. There are many sites that offer information on getting a home loan mortgage. This particular one has plenty of info to get you started, an
d they use a SecureTrust system to make sure you don’t get spam and solicitation calls. They have forums, too, just in case you want more insider info.