Mortgage Advice - Mortgage Shopping
Always contact 2 mortgage companies when you are shopping for a mortgage. It is good to talk with multiple companies to make sure the overall numbers seem to be in line and to make sure that you are getting a good mortgage deal. Contacting 2 companies should almost insure that you do not get taken advantage of, and it will also give you the option to choose the company that you feel is most trustworthy and that you can feel comfortable with.
Friends and family are a good source for referrals for quality mortgage professionals. Keep in mind that mortgage programs and rates fluctuate constantly. The terms and program a relative may have obtained in the past may not accurately reflect today's market or your current situation.
If you are a first time home buyer or refinancing an existing mortgage and you have bad credit always look into FHA financing. FHA financing is not generally based on credit score but rather an overall credit picture. Not only will you get better rates through FHA then you would with a sub prime lender but you will also have the option of streamline refinancing in the future.