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Jen, 28

Cleveland
August, 2003
30 year Fixed Rate Mortgage
5.8% Interest Rate

Why did you decide to buy a home?

I decided to buy a home for a few reasons; I had been renting for about five years and felt I had nothing to show for it, interest rates were low at the time, and I knew I had the resources to make a wise decision.

To whom did you apply for a loan?

I hired a mortgage broker who worked for Homestar.

Were you happy with this lender?

No. There were several miscommunications and I felt everyone was playing 'telephone'. I was told different things by different people.

What type of mortgage did you get?

I got a 30 year, fixed rate mortgage because it seemed like the best choice for me. My interest rate is 5.875%. I have been making monthly payments for three and a half years.

Best Mortgage Advice...

If possible, get to know someone in the business that you can trust. Research all of the mortgage terms so you know what people are talking about and cannot take advantage of you.

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