Choosing which lender you will use to finance your new home is a very important decision. Every lender has different programs and requirements. Some lenders close loans faster than others, some are better at communicating with you, and some are just more dependable and professional. Here is a short video of how I think you should choose a lender.
Important questions to ask your lender:
1) How long will it take me to close
2) What documents will you need from me
3) What kind of programs do you offer for my specific needs
4) Will I have to pay for private mortgage insurance
5) Who will be servicing my loan
6) What will my closing costs be
7) If I need you, will you answer the phone in the evenings, or on weekends?
8) Where is your office. If I have a problem, will I be able to meet you there?
9) Is your underwriting local?
10) Why should I choose you?
Remember, you should count on your real estate professional to help guide you towards a lender that they know and trust. Good agents will have relationships with several lenders, and will be able to help you choose one that will get your loan closed on-time, with the least amount of inconvenience.
Dave Danz
Carpenter Realtors
Dave Danz's Blog 