There are literally thousands of mortgage lenders out there. These lenders work in a variety of environments, from being employees of large banks to independent contractors. Lenders may specialize in a particular type of loan or only offer particular mortgage options. The level of service also varies, from getting a few phone calls to having someone at your side throughout the whole process.
So how do you even begin to choose the lender that is right for you?
We have collected the top questions that you should ask yourself before finding the right lender.
- What is your level of mortgage knowledge? – If this is your first mortgage or refinance, then you will likely want to choose a lender who can walk you through the process and answer your every question. Even veteran mortgage applicants may be confused by new regulations or offerings. That’s why here at the Denman Team we offer Mortgage 101, a 1-to-1 class to answer your mortgage questions and make sure you understand the entire process.
- What type of mortgage are you looking for? – There is a chance that the answer to this question is “I don’t know.” If that is the case, finding a full-service lender (such as the Denman Team) is your best bet. A full-service lender can walk you through all the options available to you and determine the best loan for your circumstances. For instance, you may be a first-time homebuyer who would still benefit from a conventional loan instead of an FHA.
- How much hassle are you looking for? – When you want a mortgage lender who makes the process as easy as possible, you don’t want to use a lender such as Quicken. These mostly online offerings don’t provide much support and leave a lot of work on your plate. From getting questions answered to making choices about your loan, “warehouse” style loan options put the problems on you. The Denman Team has more than 20 years of experience making the process easier on clients.
- Do you want to pay the lowest interest rate possible? – The answer to this question better be a resounding, YES! We at the Denman Team are vested in helping clients get the best possible rate on their loan. We use proprietary software to help our clients identify what they can do to improve their credit score and lower their interest rate. It’s just part of the Denman Team Difference. Your local bank or a national lender such as Quicken likely won’t provide credit counseling as part of their standard service.
- How long do you want to wait? – Another tongue-in-cheek question, we know, but when time is of the essence, every day counts. Our underwriters are right down the hall. Our software allows us to get an answer about your loan application fast. You can even start the process online is just a few minutes. We go out of our way streamline the loan process so that you get into your new loan faster.
If you are interested in getting more information about the Denman Team, please feel free to look around the site. If you are ready to get the process started on your loan, check out our online application get the ball rolling!