Recent news stories about so-called ‘subprime’ loans illustrate that it’s a good idea to shop carefully for a loan, especially one whose payment amount won’t abruptly increase and jeopardize your ability to make monthly payments and possibly lead to foreclosure.

If you’re shopping for a loan, here are some important things to ask a prospective mortgage broker:

• What will his total compensation be from you and the lender for the loan he helps you to get?

• How will her compensation vary depending on what type of loan you choose or which lender makes the loan?

• Is he willing to work for a flat fee agreed to in advance and to rebate to you any additional compensation he receives from the lender?

• How many lenders does she work with on a regular basis? Do any of them account for a majority of her business?

When the move is over and you have unpacked, you’ll finally be able to relax and enjoy your new home.  While you’re unpacking, it’s a good idea to make sure you have your transaction records in a safe place where you will be able to find them. You’ll want to keep these records for tax purposes.

You’ll need to securely store:
* Closing statements
* Property deed
* Receipts for home improvements
* Warranty information
* Loan papers
* Insurance policies