Real Estate Insider: Finding the right lender

What to know about finding the right lender who will work hard for you

When you find yourself ready to take the plunge into buying a home, you're going to need two very important people on your team: your real estate agent and your lender. The quality of your lender can either make your transaction go smoothly and as stress free as possible, or cause major problems which could mean you lose out on your dream home. Choosing a lender that will work hard for you is one of the most important decisions you'll make in the purchase of your new home. But don't stress! Here's what to know when choosing your lender:

Start your home buying process with an in person meeting with a lender

Before you open up Realtor.com, you're going to need to know what your budget is, how buying a home will impact your finances, and how much you can qualify for. I highly suggest each of my clients meet with their loan officer in person (if possible) as the very first thing they do before looking at homes. It's such a vital piece of the process because you can really dig into what to expect from your lender as well as important financial information to consider when purchasing a home. The next step in the process will likely be to fill out an application with your lender to find out what you can qualify for. In this competitive seller's market, you'll want to have a pre approval done before putting offers on homes to be more a more competitive buyer.

Make sure your lender will be available to you outside of the average work day 

In this highly competitive market, you're going to want a lender who gives you their cell phone number and will be available to you outside of the normal work day.  You might need to put an offer on a home on a Friday night because it just hit the market. Or you might need your lender to call the selling agent on a Saturday morning to talk about your strong pre approval status to sway them into choosing your offer. Whatever it is, there are many times when you may need your lender outside of the normal 9-5. When there are multiple offers on a home in addition to yours, you'll want a lender who goes the extra mile for you even if it's the weekend or an evening. Forget calling a call center to talk to a rep who doesn't know you and your situation personally. Find a lender who will work hard for you and doesn't mind answering your texts on a Saturday.

Beware of shady lenders

Let's face it, there are unethical people in every field. Beware of a lender who is extremely desperate for your business or who offers extreme discounts in order to win your business. I recently heard a story of a lender who promised deep discounts and then when the disclosure came out three days before closing, their fees were much higher than they initially stated. Work with a lender from a reputable company and make sure you trust your lender. If they seem extremely desperate for your business, red flags should be going up! 

Ask your real estate agent for advice

Your real estate agent has likely closed many deals and has worked with many lenders. Trust their expertise, experience, and advice when it comes to lenders. They know which lenders are great to work with and will take care of you. 

 If you're ready to start your home buying process, reach out to me today!