What to look for in a mortgage lender.


There are many mortgage companies advertising in newspapers and on the internet, however, along with some really good ones, there are lenders who should not be in the business at all!   An unscrupulous lender can wreak havoc with your personal financial life by making your home purchase a lot more expensive than it needs to be, giving you incorrect information about your qualifications and even stealing your identity.   A competent lender can save you time and money, educate you, advise you and make your transaction a pleasure.  Here's what to look for.

1.  Is the person you're talking to a licensed mortgage broker with a reputable company?  They should be able to provide you their license number.  Check out the references on the company web site and other ratings sites.     

2.  How long has this person been in the mortgage business?  Being a good loan officer means a lot more than helping you fill out the application.  They should be able to help you determine the best type of loan for your situation.  Are you eligible for VA benefits and zero down loans?  Can you get down payment assistance?  Help with closing costs?

3.  What types of loans does this company specialize in? 
A company that works primarily with jumbo loans may not have the expertise or motivation to help the first time buyer with a smaller purchase. 

4.  Get a written statement of closing costs.  These can vary a lot from lender to lender and determine how much money you'll need to bring to your closing.

I have professional relationships with some  extremely competitive, competent, honest lenders/Mortgage Brokers, who have done excellent jobs for previous clients.   There are over 60 different kinds of loan programs, and some lenders are better at one type of program than another.  Using the right loan program can save you thousands!  Once I understand your needs, I can refer you to the best person for the job.  Feel free to contact me at: homesbyma@gmail.com or by phone at  303-332-6166 .