Who to talk to about mortgage loans for first time home buyer?

There are some pretty good reading material reference sources. Start there and understand the process. Lenders are varied and not at all equal. However with the recent economic climate changes, almost all of the money comes from the government and all mortgage companies pretty much get their money from the same sources now. Investigate mortgage rates and also look at least one local Credit Union for comparisons. Credit Unions lend their own money (their “members” money actually) and don’t “sell” your mortgage to another company. You borrow and stay with them, usually at a good rate and usually with a more personal and realistic look at your credit history. They are subject to less credit requirements as it is their money. That means you too are less restriced as a borrowwe. There are four parties involved with the sale of the house usually. The buyer, the seller, the mortgage company and an “underwriter”. The underwriter is the unbiased party that assures the deal is legal, meets federal and state requirements for home loans and also that the buyer and seller are fully aware of the contents of all that damn paperwork you have to sign. Find a local, independent, underwriter and pay for some of their time. Have a list of questions ready when you meet with them. They can be amazingly informative as they are trained to spot cloak and dagger paragraphs and alert you to what you are agreeing to in the written documents. Finally, always ask this question when the banker other lender starts talking all the mumbo jumbo of rates, points, APR versus actual percent of loan, etc. “How much will my payments be and for how many years”. That is the single question that should let you know if you have the best deal or not. Do not be put off or dissuaded from a plain answer in language you uunderstand. Good luck and eenjoy your new house!