McGrath Realty Inc Mount Kisco
Elisa Bruno-Midili, McGrath Realty Inc Mount KiscoPhone: (914) 912-1355
Email: [email protected]

A basic guide to reviewing mortgage lenders

by Elisa Bruno-Midili 11/20/2023

Factors to consider when reviewing mortgage lenders featured image

Before purchasing your home, you may find yourself searching in the market for mortgage loans. Finding a good mortgage lender can help you solidify the funding needed to secure a home and can help to simplify some aspects of the homebuying journey. 

How does a mortgage work?

So, what exactly is a mortgage? A mortgage is a loan with terms often ranging from 10 to 30 years in which a borrower is awarded financing to purchase a residential property. Monthly payments of a mortgage loan go towards the principal balance, mortgage insurance, property tax and interest rates. 

Tell me the minimum credit score required for a home loan?

On average, many mortgage lenders offering conventional loans require a credit score of at least 620 to demonstrate good credit history. Loan types such as FHA loans do allow borrowers to qualify with lower credit scores; however, this often comes with higher interest rates and a larger down payment requirement. 

If you’re in need of a larger mortgage, you may be considering applying for jumbo loans. Due to the higher amount of financing being borrowed, the average credit score needed to qualify for a jumbo loan is around 700. 

Review methodology

As you compare and review different mortgage lenders and loan types, there are a few great factors to consider to narrow down your search: 

  • Do they offer lower interest rates? 
  • Do they have good costume reviews regarding communication and integrity? 
  • What fees do they charge in connection with taking out a loan? 
  • Do they have local servicing? 

By reviewing your credit history and doing research on

About the Author

Elisa Bruno-Midili


Passionately rebellious, Elisa crafts the industry with individual style and taste. Whether creating collaborative partnerships or brand strategy she digs deep to uncover details and desire. A conscientious contributor and community connector with a message and a mission. Lover of nature, yoga, food, farms. A local guide, photographer and data junkie. Most proud of 2 daughters, 2 granddaughter and husband Ron! 

Now a member of the Ronald Midili Home Team Elisa is positioned to be a guide and resource for all things real etsate. A NYS Licensed Associate Broker at McGrath Realty Inc and a 36 year real estate veteran specializing in sellers who are downsizing or relocating. Creating a stress-free, educational and supportive real estate experience WITH YOU IN MIND. Connecting people with communities and the lifestyle they want and deserve.

Experience the power and comforts of home!