Tips from a lending expert:

Getting a home loan is much trickier than it used to be.  Bank of Montana offers several smart moves to make sure the process goes smoothly.  Here are some tips from Kim Shappee related to shopping for your home loan.

1. Ask how long the rate lasts:

“Lenders typically offer a rate that’s good for 30 to 60 days, but closing can take a lot longer these days.  You want to know up-front if your lender will let you pay to extend it and if and when you locked in a rate.”

2. Think local:

“Sticking with a lender that has a branch and loan officer nearby gives more peace of mind to a seller and listing agent.  They’ll know the lender understands any issues unique to their market.”

3. Get it in writing:

“To head off any he said/she said arguments later, ask for a Good Faith Estimate and written verification of anything the lender tells you.  Make sure you always know and understand all of the costs included in your loan”