Your mortgage lender plays a major role in your homebuying experience. Your costs, the speed of your transaction and your overall satisfaction all depend largely on your lender — and if you want to ensure your home purchase goes off without a hitch, choosing the right one is critical.
Are you preparing to buy a new property? Want to make sure your loan is in the right hands? Find the perfect lender with these tips:
- Seek referrals and references. Start by asking friends, family members and neighbors which lender they used. Then, head online and check their public reviews, just to be safe. Reach out to learn about some great local lenders.
- Ask about their loan products. Once you have a short list of lenders to consider, make sure they offer the loan you need. Higher-priced properties will often require a jumbo loan, and investment properties sometimes need specific loan types. Not all lenders offer these specialized mortgages.
- Shop around. You’ll want to get a Loan Estimate from at least three lenders. Compare the interest rates and other costs line by line to see which one offers the best deal.
- Inquire about their process. When speaking with each loan officer, get an idea of what the loan process would look like if you went with their company. Do they have online services? What does their customer service look like? Costs shouldn’t be your only consideration.
Your lender is just one of the people who can help you buy your next property. Get in touch for help buying or selling a home.