In the article they touch on two mistakes I would like to comment on, "Falling for Marketing Gimmicks" and "Not Knowing How to Eyeball the Paperwork."
The article discusses getting a Loan Estimate (LE) from a lender before choosing them. However, the lender will not issue a LE unless the borrower makes formal application and that includes having a property address. You will not get a LE when you are looking to get pre-approved. However, in most cases the mortgage company will provide a closing cost worksheet to give the borrower an idea of anticipated expenses.
Do not make your decision off of the closing cost worksheet. The lender is not held to those fees and often unscrupulous lenders will have more fees on the LE than they did on the closing cost worksheet.
-Chris
