When you're buying a home, one of the most important parts of the process is choosing the right lender.
So, how do you find a lender and determine if they are the right fit for you? One thing you can do is ask friends and family and Realtors who they have worked with if they have any recommendations. Knowing that a lender has worked well with someone you know can make a big difference in your confidence and trust in the process.
And here’s another piece of advice. Remember that the lender is working for you, so you're well within your rights to interview them and make sure that it's somebody that you're comfortable with. Any lender you work with should be able to explain the process and terminology to you in a way that you can understand.
You can also look up their employment history online and check any online reviews.
Also, many lenders specialize in particular types of loans so you can narrow your search by checking online reviews. For example, some specialize in construction permanently loans, first time home buyers, and helping veterans use their VA benefits.
For example, I specialize in VA lending, helping first time home buyers, and and helping those going through separation and divorce.
When you’re setting up initial consultations with lenders, I’d recommend keeping in mind how you feel when you’re talking to them. Are they putting you at ease and answering your questions? Are they able to give you a timeline and potential game plan if you decide on working together? Are they available for follow-up questions?
I also always recommend getting a second opinion. This can be a win-win situation because either you know what you already have is a great option or you might find a better one. Plus, you’ll get an inside look at how they handle client interactions and keeping you updated on the progress of your loan.
When we're talking about your mortgage, we’re talking about thousands of dollars and long-term impacts on your financial picture so make sure that you choose a lender that you feel comfortable with.
Have a question on an upcoming mortgage or about the process? Get in touch and send me a message - I’d love to help.