What to look for in a mortgage banker: 6 priorities
Whether one is looking to buy a new home and/or feels it is best for them to refinance, for whatever reason (for example, another financial need, looking for better rates, etc.), it is important to choose the best mortgage banker, for you! Since each of us is different, and the combination of each one’s personal knowledge and experience/expertise, as well as our emotional composure/composition, is often an important consideration, ensuring, choosing, the right person, for you, to professionally assist you in your financing/mortgage needs! With that in mind, this article will briefly attempt to consider, examine, review, and discuss 6 specific priorities that one should consider when making their choice/selection.
1. Listen effectively: Like, in many consumer positions, etc., it’s wise to choose someone who will listen, effectively, rather than dominate the conversation! How can anyone make the best recommendations, in terms of mortgage terms (lengths, down payments, use of points, etc.), unless they fully consider individual needs, on a personalized basis, rather than simply proceeding, we have one size fits all, base?
two. Personalized service: Each of us has needs, knowledge, etc. individuals, so choose a mortgage banker, who personalize your focus, to better serve your needs, priorities and best interests, rather than just the same old, same old way! Given that, for most people, their home represents their largest financial asset, doesn’t it make sense to carefully consider all the relevant aspects and details?
3. Explain in depth, what is needed: Beware of the difference between being prequalified and preapproved for a loan! More detail and documentation up front generally makes the rest of the transaction period easier. Find someone who openly, thoroughly explains what it will take, an overall strategy and the best path, go for it!
Four. Explains thoroughly, what to expect: Few things become more stressful than dealing with surprises and the need to produce, in a timely manner, additional documentation, etc. When you, your chosen professional, thoroughly explain what to expect and have you as prepared as possible, it makes the process significantly easier!
5. Holding hands: Many find the entire real estate transaction period stressful, which goes to show how important choosing your broker and mortgage banker is! It is best to choose someone and/or a team that is there, for you, every step of the way, along the way, and holds your hand and comforts you every step of the way!
6. accelerate/stays on the ball: It’s not enough for someone to simply be a glorified order taker! Find someone who proactively speed upand makes the process easy, is consistently prepared (no surprises), and stays up to date!
Make the home buying and/or financing process easier by hiring the best mortgage professional for you and your specific needs and priorities. The wiser you proceed, the easier it will be!