Choosing a Lender

When should someone start working with a loan officer and why?

When they decide they’re interested in buying a house or condo. Shopping for a new home is exciting, but it’s something that should be approached in a thoughtful, educated way. A good loan officer informs and prepares his or her clients about the process on which they’re about to embark. The loan officer handles the financial portion of the transaction and many times a home buyer has no idea what they really qualify for; OR, most importantly, what they can afford. Once the buyer is educated on their financial power, they can really begin looking for a home.

What should a buyer look for in a Loan Officer?

  • A good Loan Officer will communicate with, inform, and educate his or her clients throughout the process.
  • Critical thinking and problem-solving skills
  • Extensive industry experience is a MUST. Every buyer’s situation is unique. The Loan Officer’s experience and expertise help you, the buyer, maximize your buying power. The right loan decision will save you thousands – the wrong one can cost you thousands!
  • Communication - whether, email, text or phone call, good news or bad, communication lines need to be open and flowing.
  • A buyer should look for a Loan Officer who has enthusiasm for the home buying process. Someone who is knowledgeable and approachable. I think the most important quality for a loan officer is high level problem-solving skills.

What to Avoid!

  • High-pressure salespeople - A Loan Officer's job is to inform and educate the buyer about the process and their options. If you ever feel like you're being pushed around, trust your gut! They may be looking out for their own best interest, and not yours. Buying a home is a major life decision, and you deserve to be fully educated, informed, and comfortable throughout the entire process.
  • Unrealistic expectations. A mortgage is a sophisticated financial transaction with a lot of nuance. Your Loan Officer needs to give you an honest idea of what to expect throughout the process. You need a Loan Officer who will share good AND bad news with you. The Loan Officer needs to work hand-in-hand with your real estate agent throughout the process to ensure a smooth closing. It takes an entire TEAM to navigate the entire homebuying process, and a great Loan Officer is a critical piece of that.