Here’s what you need to know about picking the right lender.
Picking the right lender can be the difference in closing on time, saving thousands of dollars, having a smooth closing, and so much more. Knowing this, how should you go about picking the best lender for you?
First, seriously consider your Realtor’s recommendations. You may have a family lender you have your savings account with, but that doesn’t mean they’re the right person for your housing transaction. The lending department of your bank is different from the consumer banking part of your bank, so your current lender might not be right for the job.
The truth is that not all lenders are created equal. There is a difference between a lender, a non-depositary bank, and a mortgage broker. In my experience, mortgage brokers actually have many more options than a non-depositary bank or a traditional bank.
Please, think again about using just anyone as your lender because a lot of times, they’re not familiar with all your options. If you have questions about this topic or anything else, please call or email me. I am always willing to help!
