Health & Fitness
How to choose a local mortgage partner:
Choosing a local mortgage lender can be a daunting task! Consulting with your friends and family for referrals is always a good place to start however here are the 4 things to look for when choosing a Mortgage Loan originator to partner with.
1. Take recommendations from real estate professionals you have worked with in the past, such as Realtors and Attorneys. These professionals have typically already done the leg work for you and have partnered with a close knit group of Mortgage Loan Originators.
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2. Do your research regarding which mortgage banker will best suit your needs. There are several different programs out there for consumers depending on your current situation. Maybe you are a first time home buyer, or you work for the government, or you are in the military, there isn’t just one cookie cutter option for all borrowers. A good Mortgage Loan Originator will act like a partner to ensure you are in the best possible program.
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3. Determine what matters to you most in the transaction. Whether you are choosing a local lender or one that it out of state, communication is key to ensuring you feel comfortable with the process. Whether you talk through the process in person or over the phone, don’t be afraid to ask questions and hold your banker accountable for each step in the process.
4. Research rates in the marketplace. While understanding rates is important, it is not the end all be all as many bankers charge fees to offset those low rates. Be sure that you understand what fees and rates your banker is presenting to you.
5. Research the Mortgage Loan Originator/Lender you are choosing to partner with. At the end of the day, you are choosing a partner that will help guide you through the process of a home loan, which some would say is one of the biggest financial transactions of your life. While your loan may be processed and underwritten by a computer, no matter what lender you choose, it is the person who is the face of the transaction that makes the world of difference.
I would love to help you explore the home loan purchase or refinancing options available to you. Please call or email me today at 615-394-3532 or Russell.elam@fcmhomeloans.com or visit my website at www.rjeloanexpert.com
