Mar 14, 2017
Choosing the best mortgage lender for you!
So much of the purchase of your new home rides on your lender getting things completed in a timely and efficient manner. So how do you find a good one? Here are some tips to finding interviewing a lender.
- Ask family, friends and your Realtor who they recommend. Ask about how the lender communicated with them and how smoothly the transaction went.
- Problems can arise with even the best lender. If there were bumps in the road, what did the lender do to correct the problems and get the loan back on track?
- How easy is it to get in contact with the lender? When you ask him or her questions, do they answer in a direct, understandable way? Are they willing to talk to you about different programs that may be helpful for you, or do they push you toward one certain product? Finding the right loan product should be a collaborative process.
- What is their typical turnaround time? How often and in what way will they communicate with you (email, text, phone calls, etc.)?
- Ask them to explain your options and what long term affects each of them may have on your financial goals. There are so many loan products out there, so working with a knowledgeable lender who can help you find the product that is best for you (not for the lender) is very important.
- What advice do they have for you to improve your credit score or get the best rate possible? What are the advantages to buying down the rate?
If you have questions about finding a reputable mortgage lender or even where to start getting ready to purchase a home, feel free to contact me or my prefered lender, Cal Harkness (801-455-9577). We're happy to help.