Four Lenders Are Competing for Your Business

Yep, you got that right: Four lenders are competing for my business. FOUR. At least that was the message I got when I applied for a mortgage pre-qualification letter from the LendingTree.com. Three of said lenders have already contacted me in hopes to earn my business. Well, for once I'm in the financial driver's seat.

Lucky for me, my credit is excellent. Who knew? We learned last year when we bought this house in Seattle that someone had stolen my identity several months earlier and had taken out a phone in Detroit in my name. They racked up more than $1,000 in calls in one month and then skipped. When I found out, I called the phone company and sent them information showing I didn't live in Detroit at the time -- actually, I've never lived there -- and, voila, my credit was cleared of that blemish. It doesn't even show as a warning on my report. I'm very grateful to be married to such a good solid guy as Len -- I'm sure it's his influence that has made me so straight-laced and credit-worthy.

So far, it looks like the best rate I can get is 5.75%, but I haven't done any real research -- one point can mean a lot, so I'm not choosing the first good-looking loan that comes my way. I think I'll make them woo me before I decide.

Week after next, I'm returning to Atlanta for the big house-hunting trip. I have found several places that look wonderful on-line. But, I need to see them in person before making the big decision. My plan is to make an offer (or two) while I am there and hopefully come back with a contract in hand. I've learned my lesson and will be very aggressive in my offer -- how LOW can they go? There are something like 75,000 homes available in Atlanta right now. It's definitely a buyer's market.

Here in 98105, there are just 5 houses in the range in which we plan to list our house. That's very good news, especially since I personally would not look twice at any of those houses if mine was available. I really think we'll sell our house quickly for a price close to what we hope to get. Fingers are crossed. Toes, too.