We are looking for a home purchase loan?

Most importantly: DO NOT TRUST THE NEUTRALITY OF LINKS PEOPLE SEND YOU HERE.

(take it from a former broker, most of these people are not your friends) Trust those whom have nothing to gain from the advice they offer you.

i would suggest finding a reference from a trusted friend or neighbor. if this is not available to you, inquire with a major bank (ex. wamu, BofA, wells, etc.). Know the upside and downside of working with a bank vs. a broker. Be very cautious with who you trust in assisting you in this process, as personal information such as your SS# must be disclosed to get an approval. Don’t give out your social security until you have at least 3 trusted sources that you can compare.

Your credit score is the oil that powers the engine of home-buying-potential

- your credit is pulled to find out what your FICO score is (Fair Isaac score that reflects your relationships with current creditors). This along with your income will ultimately define your interest rate.

- running your credit results in decreases to credit scores (this is because it serves as an indication that you are seeking more potential debt, via homeloan, credit card, etc)

- providing that you have 3 different banks/brokers in line to give you quotes, you can have your credit run within the 14-day grace period allowed to avoid multiple inquiries; this is a new feature alleviating consumers from being punished for shopping around <– in other words, your credit only will show as being pulled once (rather than several times), providing the inquiries are within a very close proximity of time

best of luck

(BTW, you mentioned your credit is not so hot. You may want to check online for some mortgage basics. RESIST the urge to fill out any applications, approvals, etc. There are ‘sub prime mortgage bankers’ that will take on loans with blemished credit, hence all of the “creative financing” that you hear about. I know this may sound overwhelming, but a little research will go a long way)