Are you looking for a mortgage lender with the best qualities and your interests in mind?
Look below for big indicators of lenders that will take care of you and your family.
#1: Communication
A lender who keeps the connection between you going is a great sign. Working with someone who asks all the right questions up front, guides you through the process, and helps you to feel in control is key. If you’re dealing with a call center or people who don’t get back to you for days, that’s a bad sign.
Also, don’t be afraid to ask around for a referral. If someone you know has already been through the process and can recommend a solid experience, then it’s likely that person will give you the same treatment.
A common mistake is searching quickly online for a mortgage lender and settling with the person you’ve contacted initially. Building a connection with your mortgage lender and trusting them can be a huge benefit.
Use communication in the double entendre of expecting to be talked to, and talking to others.
#2: Knowledge & Experience
The mortgage world is constantly changing especially in the last few years. If your mortgage lender doesn’t have knowledge of those changes and the experience to navigate them you’re in for a messy few months. Pick a lender that has at least five years of experience and can answer the question: “What are some of the new regulations that we’ll have to navigate throughout the process?”
A knowledgeable lender will be able to pick out the best loan for your situation, and not just one that you’re familiar with.
#3: A Variety of Mortgage options
There are tons of different kinds of mortgages. Conventional, FHA, VA, USDA, or IHCDA loans are just a few. With all these options, it’s important to find a lender that has access to the best one for you. So how do you know what options each lender has? You can start by telling them your financial scenario and ask what options best fit you. If they only have one answer without a thoughtful explanation of the options it may be a red flag.
Want more? We’ll hold your hand through the entire home buying process.
Check out our New Home Buyers Guide HERE
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