Looking for a lender can be a little daunting; how will you know if you make the right choice? To help you with the process, we have a few tips on how to choose the right lender for you!
How to Choose the Right Lender
01. Shop Around – Don’t forget; you don’t have to choose the first lender you meet. It’s perfectly okay to “shop around” and explore your options in order to find a good match for you and your needs!
02. Ask the Experts – It’s always helpful to consult your real estate agent for their opinion as well; after all, they have experience with this! Agents will also have worked with lenders before, and may have recommendations that you know you can trust.
03. Ask People you Trust – You could also ask your friends or family who have used a lender before. Ask about who they used, and about their experience when working with that lender. Oftentimes, word of mouth is a powerful tool to meeting the right people!
Agents will also have worked with lenders before, and may have recommendations that you know you can trust.
04. Compare Rates – Don’t forget to compare the interest rates offered by the lenders you speak to. This is because you’ll want to understand what you’ll be paying over the life of the loan. You’ll also want to know fees for application, appraisal, loan, and closing costs; which can all vary by lender.
05. Go with your Gut – Don’t feel rushed when choosing; you have the right to understand all the facts. Asking for clarification is 100% okay! Lastly, follow your gut! If you have a good (or bad) feeling about a lender, listen to that feeling! You want to feel good about your decision because the lender is a key component of the home buying process!
Interested in starting the home buying process? Click here to connect with a S&C agent who can walk you through the process!
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