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Mortgage Options

 

Choosing the Right loan Officer can be a tough process.

Who should you choose?

With our years of experience in the industry, we have come to realize certain requirements:

1) Are you going to go with a Bank or a Mortgage Broker?

The banks are well known, but their rates tend to be 1/8 to 1/4 of a point higher, have more fees and usually take longer for approvals.
With that being said, we typically suggest you look for a good Mortgage Broker

 

2) How many lenders does the Mortgage Broker work with?

The more, the better.  We have found that there can be as much as a 1/4 point difference in lenders.
The other big plus, is underwriting guidelines.  NO 2 borrowers are alike, what is easy for 1 lender, may be troubling for another.

 

3) How does the loan Office Communicate?

Does he/she get back to you timely?

Does he/she explain the steps clearly?

What is his/her background?