Recently, a client came to me with devastating news. They were offered a $500 off the application fee for a mortgage, but after their paperwork was processed, found that their application was denied. And they were $500 short.
When someone finds out they’ve been ripped off, they seek out someone they know and trust who can help them recover with next steps forward.
But, it puts a bad spin on the process of mortgage lending, and often they are more skeptical and cautious in applying for a loan.
With so many different types of mortgage lenders, consumers can feel confused and tempted to take lofty gimmicks, such as $500 off refinancing offers. Even your real estate agent could use a mortgage lender that they work with, and who may, or may not be looking out for your best interest.
A general rule of thumb, for any service, is to get three estimates and look for the best quality and lowest fee. But in an area saturated with salesmen that offer empty promises, how do you know you are working with the best representative for your needs?
Different Types of Mortgage Lenders
Do you prefer someone who knows your name or are you Internet savvy? Team members at large banks can move positions, and you may not be working with the person you first met with. Deciding what type of lender works for you is the first step. This will help you focus in on who you are looking for.
Talk to People You Know
Word of mouth is still one of the most reliable resources have for community members to find a reliable mortgage lender. Sites such as Next Door make it easy for community members to find recommendations and referrals.
Ask the Hard Questions: Mortgage Lenders and Appraisers
In the past, your mortgage lender was able to screen appraisers, but new regulations have voided that process. To protect yourself, we offer an Appraiser Questionnaire [link], so you know the right questions to ask.
As an active community member, neighbor, and professional, it is my goal to offer the best resources for new and existing homeowners.
Have you been disappointed in your mortgage loan officer? It’s time to find someone you trust to protect your biggest asset.
“Mortgage Lending is Our Business: Customer Service is Our Passion.”
Stay tuned and stay in touch with your mortgage professional. Thank you for the opportunity to serve you.
David.
919.851.0999
Raleigh Mortgage Man, NC Mortgage Man, Triangle Mortgage Man, Triangle Mortgage Expert all owned and licensed by David M. Damare’. All rights reserved.
Tags: mortgage lenders, residential home sales, residential mortgage loans
