How do you choose a good mortgage lender who will look out for your best interests?
In recent years, more and more buyers turn to the internet to seek out these professionals. Homebuyers think they will be able to find the deal best this way, so they choose an online lender, get pre-approved, and start searching for homes.
This is all well and good. Some online lenders do a fine job, but the majority of them aren’t familiar with our local market, our appraisers, or our attorneys. The process is therefore bogged down.
A major problem buyers run into when working with online lenders is that they sometimes aren’t ready to close on time. This creates chaos for everyone involved in the transaction.
Buyers may think they are getting a better deal when working with a lender online, but the reality is that this is rarely the case.
My team and I always recommend that you work with a local lender. Your agent should be in contact and have leverage with lending professionals in your area who they can refer you to.
The lenders we work with know that if they don’t give our clients the best deals possible, we will find new people to work with.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.