Homebuyers have many options when selecting their mortgage lender. The lowest price or best terms are not the only considerations.
The key ingredients are interest rate, terms, and service. Use the following tips to guide your selection:
- Ask me for my recommendations. As a full-time agent, I deal with clients and lenders continually and can easily make some recommendations to you based on your wants and needs. I can provide you with the names and number of lenders they have worked with before who give competitive rates and terms AND great service.
- Get the rate and terms in writing. It is easy to vote for a good rate to capture your loan. If you don’t get it in writing, the quote could change. This is particularly true of lenders found over the Internet. If the lender cannot give you the quote in writing, steer clear.
- Share your main mortgage goals with the lender, who should then offer suggestions on a mortgage that will accomplish your goals. If the lender does not offer to counsel, their service is below par.
- Predict lender accessibility during loan processing. Ask how the loan will be processed and who will be available to answer your questions. Ask for a direct line. If the lender resists, you may have difficulty reaching them when you need them.
- Verify lender accessibility. Get a callback number and make a call to see if and how long it takes for the lender to get back to you. If they are hard to reach now, it may be even harder once they have your business.
- Ask about their processing support. If the lender does their processing along with taking loan applications and prospecting for new business, they may be too busy to take care of your loan.
- Confirm Processing Times. If the lender cannot promise a date, then you may not be able to conform to your contract.
When you’re ready to begin your real estate search or thinking of selling, remember this. We will excel as your Austin-San Antonio Metroplex real estate agent. I am confident in being the best for you and look forward to showing you what the Austin-San Antonio Metroplex, Texas is all about.
