How to Find a Lender Who Won’t Let You Down

Posted by Krista Fracke on Monday, October 30th, 2017 at 4:57pm.

Buying a home is a large investment that requires stacks of paperwork and numerous verification documents. While you may prepare yourself and have ample knowledge regarding the home-buying process, a good lender in Jacksonville will help you navigate the process, receive a good interest rate, and answer your questions. Here are a few things you should do as you look for a lender who won’t leave you disappointed.

Reach Out and Ask Questions About Programs

One of the easiest ways to narrow down your lender search is by calling various lenders and asking questions about their loan programs. Ask basic questions and see how the lender responds. If the lender doesn’t offer much information, acts too busy, or never responds to our inquiry, this may be an indicator of how they will treat you throughout the home-buying process. You want a lender who is responsive and doesn’t think you are a waste of his or her time.

Look at Closing History

There are many banks and mortgage lenders who outsource their underwriting. This issue, along with several other factors, can influence how consistent the company is at closing on time. Talk to the lender about their turnaround times and how often they delay closing. You don’t want to be waiting several days or weeks to close due to a lender who doesn’t take deadlines seriously.

Talk to Jacksonville Real Estate Agents

Real estate agents communicate and work with mortgage lenders on a daily basis. They know which lenders are great to work with and those who don’t always come through. Ask your real estate agent for referrals and recommendations. If you want additional feedback, talk to friends and family members who recently bought homes in Jacksonville for opinions as well.

Do Your Own Research

Not all lenders offer programs such as FHA or USDA Rural Development loans. While lenders may push you towards one program or another, do your own research to truly find the best option for you. If you find an additional program that is not offered by the loan officer, talk to a lender at another to company regarding the program. Buying a home costs a significant amount of money and in some situations, decades to pay off. You need to make sure that you are doing what is best for your specific situation, not just what the lender has available at the time.

In addition, do your own research regarding the lender and the mortgage company. Read online reviews and information featured online. The more time and effort you put into finding the right lender, the better home-buying experience you will have.

There are countless mortgage lender options available, making it even more critical that you take the time to shop around and find the right lender for you. The right decision will make all the difference as you buy your dream home. 

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