Finding The Right Lender
Finding the right lending institution and individual loan officer is a big part of making your home buying process smooth, successful, and stress free. The right loan officer can also help make the difference in getting your offer accepted and closing on time.
While you’ll find many options online, on billboards, and through advertisements, the best way to make sure you’re working with an experienced and consultative lender is through a referral. Ask your Realtor, friends, family, or colleagues to recommend a loan officer with whom they have worked previously. These people have first hand experience with and can attest to the skill and qualifications of a loan officer.
Choosing the Right Lender
You’re going to spend a good deal of time working with your lender. Be sure this person is a good fit for you. When you speak with a lender you might look for the following qualities:
Clear and patient communicator – A great loan officer listens and responds with options in plain language to help you feel educated and confident.
Responsiveness – Your home purchase might move fast. You want someone who is accessible, keeps you updated, and is reachable when needed.
Experienced – Buying a home can be overwhelming. If you’re a first time homebuyer, self-employed, or want to be prepared for any contingency it helps to have a loan officer who has experience with your situation.
Strong problem solving – Things come up, like credit quirks, appraisal issues, and documentation issues. A skilled problem solver anticipates and resolves issues.
Access to competitive products – There are many types of loan products available to meet the needs of varied borrowers. Make sure your lender has access to solutions to fit your needs.
Comfortable to work with – You’ll be sharing personal information and trusting this person with a major purchase. Choose someone who makes you feel respected and supported.
