From my own practice, I know that Buyers often believe that they have the knowledge to make an informed choice in choose a loan officer or mortgage. Buyers are smart folks — they’ve done their homework; they’ve formed a relationship with their own bank; they feel that they can compare apples-to-apples when shopping for a mortgage.
In addition to comparing rates and costs, however, Buyers need to also ask these important questions of a mortgage professional:
- Can you really close this purchase?
- Will you provide the loan documents to escrow 2-3 days ahead of the closing date so that my purchase can close on time?
- What is the minimum number of days you need to close this on time?
- Will you call me back within a hour (or so) when I have a question?
- Will you be in close contact with my Broker/Agent so that she knows what’s going on?
- Will you explain the numbers to me that I don’t understand?
- How many new purchase mortgages have you completed in the last year? What types? (i.e., do you have experience with VA loans, FHA, rehab loans, etc)
- Will you meet or beat the builder’s preferred lender’s rates or current offer?
- If you’re not a bank, to whom do you anticipate that your company typically sell my mortgage?
- Will you be my trusted advisor, not just for this purchase, but going forward from here so that I know when it might be wise to consider refinancing? (or whatever)
See, it’s not just about rates and closing costs. It’s about making a wise decision based on the knowledge of your loan officer. I have a short list of trusted mortgage folks with whom I’ve worked for years! It’s a short list, because it’s very hard to find excellent loan officers! Both of these mortgage professionals do what they say, when they say, with the terms they say. They stay in touch with me so I can be of service to you. They stay in touch with you so you know what’s going on. Click here to visit the page that contains the names of these two ladies.
There are only two names on the list at the moment because I’m very picky. These two are consistent, and they’re always there for my clients and for me. I like that … It’s all about trust.