Quality Choice Mortgage

A mortgage company in Andover, Minnesota, Quality Choice Mortgage works with people buying a home or refinancing an existing loan. It is located at 13750 Crosstown Dr Nw Ste 200. The company says it offers tools and information about loan options to help borrowers make the right decision. Its focus is on purchase financing and refinancing, with information intended to help consumers compare choices before they apply. Before choosing a mortgage company, ask which loan programs it offers and whether it acts as a broker or a direct lender. Ask how it discloses interest rates, discount points, lender credits and other closing costs, and request a Loan Estimate for any scenario you are considering. For a refinance, ask how the company calculates break-even timing after closing costs and whether the new loan pays off a first mortgage, a second lien or both. For a purchase, ask what pre-approval requires and whether the pre-approval depends on a property appraisal or a final underwriting review. Also ask whether the company services loans after closing or transfers them to another servicer, since that affects where payments go. Ask about rate lock periods and what happens if closing is delayed beyond the lock. Borrowers should compare the Annual Percentage Rate, not only the quoted interest rate, and should get all fee estimates in writing before paying any application charge. Comparing written answers from more than one mortgage company gives a clearer basis for choosing.