Three Things to Know When You’re Shopping for a Loan
Savvy Consumer Tips for Choosing a Mortgage Company
By Marlene Crawford
1. Not all mortgage professionals are created equally. As with any industry, there are advocates for the consumer and there are those who are not as careful with their client’s best interests as they should be. Before you choose a mortgage professional, check out their reputation, ask around, get a referral, check with the Better Business Bureau, and simply call and get a feel for who they are.
2. Service is key. Call to see what services, rates and differentiators each mortgage officer offers. Are they flexible? Will they work with you? Are they friendly? Do they have tools that can help you make the right decisions for your family? Are they willing to sit one on one with you to determine what the best loan, rates and terms are for your situation? A great mortgage company works with a variety of lenders and has the experience and knowledge base to work with you to customize a loan you and your family can be comfortable with.
3. They don’t stop at the loan. Great mortgage professionals don’t stop with JUST offering you a great loan. They work hard to get you the best rate and terms, but they go beyond that. They stay in touch. They provide valuable resources to help you monitor your investment. They are there for you when you need a referral for a friend or even advice about who to turn to for other professional services such as attorneys, accountants and home service professionals. They care about their relationship with you more than just closing the deal.
If you are in the market for a mortgage loan, shop around and don’t be afraid to pick up the phone and talk to the staff. For most people the purchase and refinancing of their homes are some of the biggest investments they’ll ever make. You want to be sure you’re in great hands.
Call us anytime. We’re here to help.
The Professional Advantage…
For most people buying a home is the largest investment they will ever make. Because of this you need the guidance of experienced real estate and mortgage professionals
to help you avoid costly mistakes.
The advantages of using these trained advocates are many:
- Knowledge of the neighborhoods, schools and condition of the local real estate market. If they don’t have first-hand knowledge of an area then they probably know a fellow real estate professional who does
- The ability to negotiate on your behalf while protecting your best interests
- By working with one-on-one with you, these professionals will know how to best match the market inventory, interest rates and loans that will work best for your family
- Professionals can help you focus on your needs and bottom line buying ability and not let you get sidetracked by amenities that don’t add value to your purchase
- These professional have working relationships with appraisers, inspectors, lenders, title insurers, movers, attorneys, etc. These relationships make the entire buying
process much smoother than it would if you had to find all these resources yourself - Can deliver to you a CMA (Comparative Market Analysis) so you know what comparable homes in the area are selling for
- A great resource of information throughout the searching, offering, closing process and after you move into your new home
- Always up-to-date on the flurry of changes happening constantly in today’s shifting market
As professionals, we’re thoroughly versed in all phases of the home buying process, be sure to use that experience to your advantage. We’re here to help.