Which Lender should I go with?

So you are finally ready to purchase your first house! Or you are interested in refinancing your home, rental property, or investment property. There are so many different lenders and loan officers to go with. How do you choose? The most important thing to focus on is to do your research and truly understand what you want and find the best rates and terms for you and your situation. Ask your family members and friends about who they have worked with in the past. Ask people you trust, and don’t be afraid to ask bold insightful questions. If they recently refinanced they have first hand testimonials of the good, bad, and ugly. Does the Lender have reviews, comb through the reviews and consider if there are deal breakers hidden within. Are they easy to communicate with? Is their communication style like yours? Are you tech savvy? Are they tech savvy? Are they patient with you? Are they giving you short blunt unkind answers to your questions? Know that you have the freedom to not work with anyone you don’t feel brings you value in exchange for your business. The more clarity and communication you receive the better understanding and knowledge you will gain in regards to your loan. Eliminate all misunderstandings and expect the best results when you are fully aware and informed.

Are finances and borrowing a huge determining factor? Do you have a large down payment? Are you a first time home buyer? Are you in a rush? Is there a time crunch? Are you buying an investment property? Are you buying a larger house so your inlaws can live with you? Not all lender quotes will look the same. You should consider the format or the way it is presented to you. Look at the rates, terms, and conditions. Will it save you money in the long run? Monthly or Annual savings? Are there hidden fees and costs that could arise? Would you be prepared for any possible hiccups or delays? Look at all of the possibilities, layers, perspectives, and views. Are the quotes presented fairly? You can ask your loan officer to further breakdown each lender quote. You can tell if your loan officer is knowledgeable or not by how they answer your questions. Pick the right lender, and loan officer that suits you best, and that you know is the best representative fighting on your behalf for the best rate, loan terms, and agreements that you clearly understand and want for your financial needs. A good rule of thumb to consider: “If it feels like you are being pushed into a sales pitch, you probably are.” There should be no pressure or unfriendliness. This is a major financial transaction. Find a loan officer you can trust and who shows you respect.