Shopping for loans in Ohio. First time buyer.

[Stuart Hoffman]

Hey everyone,

I've looked through some of the other posts on this topic but didn't notice anything for my state.

I'm brand new to REI and I'm looking to house hack MF; probably a duplex. I've talked a little bit to two different lenders but I'm worried about what I don't know, which is probably a lot.

I've never had a mortgage before and I'd like to find something with a 3-5% down payment if possible.

My questions are:

What things should I be looking for from a good lender? What questions should I ask them?

Does anyone have any recommendations for lenders in the Central Ohio market? I have received one from a BP member already.

Am I correct in my understanding that shopping around and filling out several applications will only be reflected as one hit on my credit score?

Thank you all in advance for your time and input.

[David Yee]

What to look for: Responsiveness.  You want someone who will answer your questions and be willing to move quickly when you find something you're interested in.  Generally speaking, I don't think you will find a lender that is considerably cheaper than another so I look for responsiveness and willingness to explain things so I'm comfortable with each step and I can prepare for what's coming.  

Recommendations: I wasn't happy with my last lender so if you find someone you like please let me know, too!  I'd suggest whenever they give you a rate always ask if that includes points. 

Credit Rating: Here is a good article.  You generally have a 14-45 day window to shop around.  I think I was told 2 weeks.

https://www.equifax.com/person...