Getting a mortgage today is more difficult than it has been over the past several years. Good credit and a decent downpayment is necessary, together with income requirements. There are many mortgage reps out there and they are pounding the pavement for business. Beware of untrue tales told by many mortgage reps in order for them to acquire new business. Actually, a client of mine was telling me how he was being badgered by numerous mortgage reps trying to get his business. They were using scare tactics by telling him that he would be given a different rate at the closing table and more fees or points added on if he went with another lender and not them. He called me up so confused and upset – not knowing what to do. Don’t fall for it! One way to make sure you are not getting ripped off is to deal with a reputable real estate agent who knows or has a relationship with a particular lender. Real estate agents are able to weed out the “not-so-good” financial people. Also, they can help in getting the fees reduced to a minimum, since the mortgage reps depend on real estate agents for new business. Ask your real estate agent who she would recommend when shopping for a mortgage. The real estate agent does not collect any fees for referring business to mortgage lenders. I must tell you that there may be some reps out there that slip through the cracks, but once they mess up with one of an agent’s clients, they are crossed off the list and not referred any more business. For more detailed information on this subject contact me at dkaplan@gnrgmac.com