Does the mortgage company you choose for your home loan matter? The truth is that it does, and more than you might think. As your Chandler realtor, I, Cathy Carter, believe it is vital that you choose the right mortgage company, both for your real estate needs and your long-term financial health. Here's a little bit about why that is the case.
Most Lending Professionals Are Sales People
When you sit down and talk with a banking or lending professional about your home loan needs, you are talking to a sales person. That person's goal is two-fold. First, he wants to determine if you are a safe risk. Second, he wants to get you to sign for a loan through his company, if you are a safe risk. Because of this two-fold goal, you need to ensure that you have chosen the right lender, or you may be ushered into a loan that is simply not a good fit for your needs.
Customer Service Matters
As with any major financial product, your mortgage needs to be backed with strong customer service. If you have a question about your loan or a problem down the road, you need to know how you will be treated. Test the customer service by calling the lender with some questions about the loan options available to you. A company with good customer service will happily answer those questions. Also, a company with good customer service will not keep you waiting long for the answers.
You Need a Variety of Products
A quality lender will realize that loans are not a one-size-fits-all situation. As your Chandler realtor, I believe you need to work with a lender who has multiple products. From your standard 30-year, fixed-rate mortgage to more creative financing options for people who have different needs, such as someone who will not be staying in a home more than a few years and could benefit from the low interest on an ARM, you need a lender who has several products and is willing to explore them all to see which best fits your needs.
Lenders Must Look at the Long-Term
As you are considering lenders, make sure the lender can look at the long-term picture. What are your overall financial goals? How can your mortgage help you reach them? When you find a lender that takes this type of approach and asks these questions, you know you have found a quality lending professional.
Lenders Need to Educate You
Having a variety of products and looking at the long-term are only beneficial if the lender takes the time to educate you about those products. You need a lender who will help you look beyond the monthly payment and see how the overall mortgage repayment plan works with your financial goals. The lender needs to show you how the payments can change, if they can change, and how that affects your budget. This requires time and knowledge, and when the lender is ready to sit down with you in this way, you can be certain you found a good one.
A Thorough Knowledge of Changes to Rates Is a Must
As you consider your options for a lender, make sure the one you are looking at understands how rates change and how that affects the timeline of your loan. Often it is advantageous to lock in a rate early in the process, but not always. A skilled lender will know how to best advise you in this regard, and will proactively discuss the timeline with you.
Consider a Local Company for the Best Service
Finally, when choosing a mortgage company, you may find the best service comes from a local company versus a national one. While the national name may be better known to you, these national lenders may not have the personal attention that you need when you are looking for a mortgage. A local company has a feel for the local real estate market, will work with your Chandler realtor and will take the time to walk you through the process, ensuring that you understand all you need to know to make an informed decision.
Consider Our Preferred Partners
When you work with me, Cathy Carter, you can be certain that you will receive exceptional service and education throughout the real estate process. I believe you should be able to expect the same from your mortgage lender. That's why I recommend two financial professionals, Michael Certo with Amerifirst Financial and Ron Duranti with Peoples Mortgage, for your mortgage loan needs. With these two, you can expect exceptional service and quality products.
Take the time to do your homework and find a lender who works well for you, but if you are having trouble narrowing down your options, know that Cathy Carter wholeheartedly recommends these trusted partners.
With www.realestatechandler.com you'll be able to find your dream home in no time. If you have any inquiries about homes for sale, connect with Cathy Carter!
-Work With Cathy Carter For Unmatched Expertise On Chandler Area Buying & Selling!
It takes an experienced professional to help you buy a home
or to get your home sold for the best price.Posted by Cathy Carter on