Below are some of the most common questions about getting a loan and our mortgage tips to help you with them.

Should I Talk to Multiple Lenders?
YES.  After all, you want to make sure that you get the best rate possible on your home loan.  Lending Source Online helps you to find multiple lenders in one easy to use site. 

Can I get a mortgage loan to pay off my credit cards?
Yes, many programs are available to help you consolidate debt. Considering the average interest rate on a credit card is 18%, using the equity in your home to reduce your monthly payments can save you hundreds of dollars in credit card interest.

What will be included in my closing costs?
• Lender fees including: points, appraisal, credit report, underwriting, settlement    and tax service fee.
• Prepaid Items: interim interest, real estate taxes and escrow, insurance    premiums and escrow.
• Settlement costs: title insurance, settlement/attorney fees, city/county/state
   taxes, recordation and messenger fees.

What documents do I need to give the lender to close the loan?
• Fully ratified and executed sales contract on purchase loans
• A termite report for the house
• Homeowners insurance policy properly listing the lender in the Mortgage
  Clause
• Any outstanding items requested by the lender

How does my credit score affect my ability to get a loan?
While good credit is important, your credit does not have to be perfect. All mortgage programs have criteria that must be satisfied. Such conditions must be met in order for a loan to receive final approval. Judgments, outstanding collections and/or being consistently 30 days late on payments will all affect your credit, but will not necessarily prevent you from qualifying for a loan.