House hunting can be exciting, but also nerve-racking. Perhaps the most important first step is to find a knowledgeable, trustworthy and transparent mortgage lender. With hundreds, if not thousands, of lenders in the market to choose from, how do you find the lender that best suits your needs? Here are the qualities to look for to be sure you’re getting the right fit.
Top-tier knowledge and experience
Finding a mortgage lender that has a tenured track record and a high-caliber product and process knowledge base is key to your homebuying success. A lender that can help you properly prepare for your home search, help you avoid pitfalls during the home loan process, and assist in getting you to the closing table is invaluable.
Transparent on cost and fees
Any lender can offer the lowest interest rate, but how much they charge for that rate is more important. Work with a lender that is open and honest about their origination charge (lender fee), points charged for the proposed interest rate, and all third-party fees associated with the home loan cost estimate.
Relationships with local real estate professionals
It takes a host of housing market professionals to help you attain the dream of home ownership. A community-invested lender will have trustworthy, reliable relationships with real estate agents, appraisers, inspectors, title companies and other local housing industry specialists that they can refer to the homebuyer to make the process more efficient and secure.
Attentiveness to your needs
Interviewing multiple lenders is the best way to know you’re placing your trust in the right person. A well-respected, knowledgeable lender handling your home loan process will pay dividends for your bottom line and your peace of mind.
Don’t have a mortgage lender in mind? Gateway Realty has a trusted referral network of mortgage lending partners that can help you achieve your home loan goals. Reach out to Gateway Realty today for more information on finding the right mortgage lender for you.