Tips For Choosing A Lender
Choosing a lender to work with can be overwhelming but here are a few tips to help you through the process. Lenders play an important part in the real estate transaction and picking the right one is key. You may have seen commercials, billboards or even internet ads but which lender is right for you.
Start by having choices, I strongly recommend you interview at least three lenders. I have lenders I work with on a regular basis and recommend for many reasons. The key is to know you are in control and have choices, pick the one who is right for you not necessarily the first call you make.
Ask about pricing, interests rates and costs. This by far is a buyer’s main concern and while I agree it isn’t everything either. Find out what you need to have as far as credit, down payment, closing costs and total out of pocket. Ask about different loan options available to you under your situation. Keep in mind someone who just got out of college may have different choices as opposed to a move up buyer with an established career know your options.
Are they available in the evenings and weekends? This is extremely important as that is when real estate deals are done. Most people are shopping when they are off of work and that is when your lender should also be available. Traditionally lenders have been a nine to five business hour work week however in a competitive market we are in that has evolved to be available through out the week to stay competitive. Availability is key so be sure to ask so you know you can be competitive in this market.
As you can see many there are several things to think about when choosing a lender to work with. While television commercials might make you think it is something you choose down on your phone or on an app it really is much more involved than that. The reality is you want to have someone who is available, gives you options, is transparent with their fees and has a good reputation of getting loans closed on time.
With a heart of a teacher I look to educate my clients about the process of buying, selling or renting real estate. I strongly feel an informed and educated consumer will make better decisions and be less likely to be taken advantage of.
Have questions about this or other topics, don not hesitate to contact me.
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Luis Cuevas, Realtor®
RE/MAX Cross Country
1990 Justin Road
Highland Village, Texas 75077
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