Shopping Rates and Choosing Lenders
My company just came out with a flyer intended to help buyers choose a lender, and it is excellent timing. Recently, my clients have been shopping lenders’ rates like never before. Not sure why – maybe because of all the attention the mortgage business has been getting recently – perhaps the good side of all of this mortgage mess is that buyers are educated like never before. Below are some qualities you should look for in your lender, but don’t forget to ask around too. If you have an experienced realtor, ask them who they think will do a good job for you. We do not get kickbacks for referring a lender; that would be illegal, so we are simply referring them because we know and trust that they will do a good job for you.
- Local processing and closing
- In-house underwriting
- Local appraisers (i added this one – I’ve heard crazy things like appraisers flying in from out of state to do a local appraisal – that sounds wacky to me!)
- Experienced and knowledgeable loan officers
- Competitive Interest Rates
- Full menu of mortgage products
- Consistently Closes home loans on time
- Provides excellent communication with YOU and your Realtor
