Choosing a mortgage lender can be hard if you don’t know what to look for. But it’s also an intensely important decision – that could effect you and your family for the next 30-years. So we thought we would share some tips you might find helpful when you’re looking for a lender – to ensure you get the best loan for your family.
And these are not tips just from us. But general tips any financial expert would advise for every family.
How to Choose a Lender:
- Do a little research. The lending landscape has a lot of options, from banks to brokers to direct lenders like us. It’s ok to get quotes from several options and compare.
- Ask good questions. Remember it’s not all in the interest rate. Don’t forget to ask about things like fees, turnaround times, and even how your lender communicates – phone or email, etc. There are lots of ways a lender can be great for you beyond the initial quote.
- Check your timeline. Make sure the people you talk to know what your timeline is and that everything can be settled before you need it.
- Learn about Direct Lending. We are a Direct Lender. So this one seems a little self serving. But if you looked into it, you would see that working with a Direct Lender does offer you some key advantages. Being a direct lender basically means that we have the opportunity to use our own money and make our own decisions. Key factors that allow us to approve our clients easier, faster, and often at a lesser rate than a normal bank or broker.
Bonus tips before buying:
- Clean up your credit. Your income and credit help prove that you can repay your loan – and lenders look at your debt-to-income ratio to see what loans you qualify for. If you can clean up your debt before you apply, you’ll definitely get a better loan.
- Get preapproved. This shows sellers that you’re serious and can be trusted. This can put you ahead of the game when they’re considering other buyers.
We know the options can be overwhelming. Sometimes the best thing to do is to pick up the phone and talk to someone. Because how someone is willing to answer your questions and what kind of information they can provide will help you know whether you’re going to feel good working with them. And yes, we hope we’re on your list of lenders to consider. Because we do believe we’re good at what we do. We’re a family company with mortgage experts and Christian values. And if that’s important to you as well, we’d love to help.
Best,
Audrey
The Christian Mortgage Mom
