Choose Your Lender Wisely

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Real Estate

Choose Your Lender Wisely

 

The first step in the home buying process is to speak to a lender to get pre-approved to purchase a home. It's the first step for a reason! It is very important to choose your lender wisely. I have had plenty of past experiences where I am representing the buyer, and the lender they choose almost lost us the house. Actually, I'm currently dealing with a transaction now where the lender messed up, and actually may cost our buyer the house 5 days before the closing day. 

 That being said, I have found that choosing to work with a LOCAL loan officer who works for a Mortgage Company is the best way to go. Local lenders who work for mortgage companies (9 times out of 10) work the weekends - It is important! Most likely, you’re house shopping on the weekend, and you should be able to speak to your lender if you have any questions, or want to place an offer! Also, when you are under agreement, there are deadlines that need to be met. It is important to be able to communicate with your lender over the weekend. Making sure they are local is important too. Being local you will be able to GO TO the lender and hand them documents if needed (god forbid you had to). Also, being they are local - they most likely know the other professionals in the business on a personal level. The Realtor, insurance agent, closing atty… etc can all work together to get the deal done, for you!

 I have had too many experiences where my buyer chose to go get pre-approved with a large bank. The bank only answers their phone/emails 9-5 Monday - Fri, and on Friday’s and Monday’s you’re lucky to get a response. They are too busy playing catch up from not being around on the weekend, so like 3.5 days out of the week you can contact them… However, if you insist on a bank - try a local credit union, and make sure to grab the loan officers business card to whom you may be working with, and look up their reviews!

 

Need any lender recommendations? Ask your local Realtor!

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