Choosing the right mortgage lender makes or breaks getting the home you love in a timely manner for all parties to a transaction.
Sellers often will avoid offers if the mortgage lender is not solid and known for a professional timeline and communication.
Here are some tips and questions to ask yourself – to know you are on the right track.
- Your Pre-Qualification Letter is only good in the moment it was prepared. If 30 days have passed, it is time to review and reassess.
- Is your mortgage lender licensed to lend in the state of Oregon?
- Can you meet them face-to-face? Sitting down with a mortgage lender to discuss your financial portfolio builds a relationship that will help execute a timely closing. They, or their team, are easily available to answer your calls.
- Avoid big challenges on the last few days of closing. Be prepared to provide your mortgage lender all of your financial history documentation in order for them to provide an accurate Pre-Qualification Letter. Non-disclosure can cost you – your home at closing.
- A good mortgage lender can accommodate many types of loan programs. Their knowledge and experience is essential in today’s fast paced real estate market. They should explain your options that work with your lifestyle, financial goals and save you money in the life of your home loan.
- Experienced mortgage lenders have connections with experienced appraisers. They consider unique items to each home. A good appraiser can work effectively in this growing market to qualify value, or advise how to accomplish tasks to qualify the value, which helps the transaction close.
- A good mortgage lender will care, listen and coach you.
Contact me for a recommendation of qualified mortgage lenders for your area within your area.
