Many prospective homebuyers are concerned about how to find the right mortgage lender for their financial home loan. Working with a reliable and respectable lender is the top priority for many homebuyers. The Consumer Financial Protection Bureau recommends that a potential mortgage borrower talks with at least three different lenders while shopping for a mortgage. Not all mortgage lenders are created equal – when comparing one lender to another, there are crucial differences in rates, costs, and service.
How To Find The Right Mortgage Lender For You
The first step many borrowers take to find the right mortgage lender begins with reviewing the company’s online presence. Prospective borrowers should check how long the lender has been in business and, most importantly, their reviews.
It is usually beneficial for borrowers to explore the website and see if the information is up to date and offers the right services for their financial needs.
Transparency is essential for borrowers when it comes to choosing a mortgage lender. Borrowers should make sure that the lender they choose is transparent about their interest rates and any additional fees or points they charge when quoting mortgage interest rates.
Trust and Knowledge
While an online presence is vital, the mortgage lender needs to have more than a nice website. As a borrower, having a knowledgeable and trustworthy mortgage expert is critical. Borrowers should check that they can work with an experienced Client Advisor rather than being redirected through a call center.
The Borrower Experience
There is a lot of paperwork and documentation required for a loan. Borrowers should check that the lender they choose to work with has systems in place to expedite the process as well as technology to complete an online application, secure document uploads, and electronic signatures.
Even if they have a simple online application, if you feel uncomfortable uploading your documents, are they flexible? Companies that prioritize the borrowers’ needs will ensure that their clients are comfortable every step of the way.
Now it’s time to determine which lender would work best for you. A good idea would be to research a few different companies and then compare them. You can start by checking out our website to see what makes JVM Lending different from other lenders. JVM’s Client Advisors and Mortgage Analysts are highly-trained and extremely knowledgable about the mortgage process. Our team is available 7 days a week by phone at (855) 855-4491 and by email at [email protected]. Contact us today and find out why over 700 clients have rated us with five-stars – making us the nation’s #1-rated mortgage lender.