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Unit 3: Getting
a mortgage may be easier than you think!
Lesson 2: How to shop for a loan 
If you have a job history, a credit report
or a nontraditional credit history, and some savings, you
can shop for a loan to help you buy your dream house. Many
places in your community offer different types of mortgage
loans. It is important to compare the different loans to
find the one that is best for you.
When you begin to shop for a mortgage
loan, you may want to talk to your own bank or credit union.
Call them and ask them about home mortgages. Your real estate
agent may help you find a loan too. Ask friends and co-workers
where they got their mortgages. Also, look in the real estate
section of your newspaper to learn about local lenders and
their mortgage rates.
Find an example of each of these financial
institutions in your area by looking in the real estate
section of the newspaper. You can also look in the yellow
pages of your telephone book under mortgages, banks, savings
and loans, credit unions, and financing. Write the name
and the telephone number of the institution in the spaces
below.
| |
Name |
Telephone |
| Savings and loan association |
___________________ |
___________________ |
| Commercial bank |
___________________ |
___________________ |
| Mortgage company |
___________________ |
___________________ |
| Credit union |
___________________ |
___________________ |
| Financial company |
___________________ |
___________________ |
| Department of Housing and Community
Development (Look in the blue pages of your telephone
book under the local government where you live.) |
___________________ |
___________________ |
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