By Sharon Bartlett
Which mortgage is right for you? Part V How do I decide which mortgage lender to use?
I
s finding the right mortgage lender all about finding the lowest rates? Well, that’s probably true, but do not forget that it is also important to make sure that you are comfortable with the lender you trust to originate the loan.
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Even though many companies or lenders use the same lending processes and infrastructures, many differences can affect the fees charged on the services you are receiving from the lenders. And speaking about services, you should consider the quality of services you are getting. When it comes to getting the best mortgage lender, I’d advise you to shop around. It pays to shop around and talk to at least three or four lenders before making any commitments. This will give you a sense of the person you’ll be dealing with for the next 15 or 30 years. Also, you will be able to compare the interest rates offered by the companies, the terms and conditions of the loan, and so much more. So do not settle for the first lender you come across.
It is also important to ask your agent for recommendations; remember, agents are experienced in this field; they are the boots on the ground and present a wealth of experience, but it is best to do your research. Finally, ask a friend or a family member, or better yet, reach out to me today for the best recommendation on who to work within Texas or countrywide. WHERE TO GET MORTGAGE LOANS In the last four segments of this series, we’ve mostly covered the basics of mortgage lending, where I talked mostly about the FHA Loans and Conventional loans and their differences. What I have not touched is where you can get the mortgage loans. There are so many companies and institutions that will help you get a mortgage loan; local banks, online lenders, or even mortgage brokers work with lenders.
FEBRUARY 2022 | 21
