4 Questions to Ask Before Choosing Your Mortgage Lender

Hiring a lender to guide you through the process of purchasing or refinancing a home is something you’ll probably only do a handful of times. That’s why you need to work with a home loan expert – someone who will clearly explain the loan options that could work for your financial goals and make sure you understand exactly what’s happening as you move toward closing on your dream home.

To help you navigate your search for a lender, we put together some of the questions our expert mortgage loan originators always recommend their borrowers ask before deciding who to trust with their home loan.

1. Are you experienced in all of the mortgage products you have available?

It’s important to remember that just because a product is offered, doesn’t mean every lender has closed that type of loan. You want a lender who is well versed in every available product so you can be well informed about all of your options and able to choose the best financing path for you.

2. How much will the loan end up actually costing?

Ask whether you’ll be charged any discount points or origination costs when you’re given a rate estimate. If the answer is yes, you could end up paying more than you expect.

3. How would you describe your level of service?

Find out up front how a prospective lender’s service and communication will differ from other lenders. You want to make sure the person you end up working with matches your style and expectations.

4. How quickly can this loan be processed and closed?

You don’t want to choose a lender only to find out that person’s systems, processes and staff can’t get your loan closed on time.

If you’re ready to start the conversation about financing a new home, or refinancing your current property, our team of mortgage loan originators is ready to connect with you. Click here to find your local lender or start an application online.