1. Decide What Kind of Lender You Want
Do you prefer a small lender or a large lender? If you are someone who prefers more personal customer service and a lender who knows your name, you would likely want to go with a smaller lender. If you care more about getting the right interest rate, a larger lender may be your best option.
2. Talk to Your Real Estate Agent
A good realtor will not limit recommendations to his or her in-house lenders, and smart loan officers take especially good care of customers recommended by real estate agents. Use this to your advantage, and make sure the lender you speak with knows you came to them through a recommendation from your agent.
3. Research the Lender’s Reputation
No matter how you hear about a lender- whether from a family member or a website- it is imperative to do a background check. If you can get names of past clients, make sure you speak with them. Check online reviews and don’t hesitate to bring up any questions you have with a potential lender. Learning as much as possible about who you might be dealing with can save you a number of headaches later on.
4. Schedule An In-Person Meeting
Just having a 15-minute conversation about your mortgage plans can open up a world of possibilities. The right mortgage consultant will be able to advise you if now is really the right time for you or if you have some planning to do. Just because you can get pre-approved doesn’t mean it’s right to do it.
SOURCE: Tiffany Patterson at SmartAsset.com