What To Look For In A Mortgage Lender [HINT: It's not just about rates!]

What To Look For In A Mortgage Lender [HINT: It's not just about rates!]

so the quarterback's throwing a ball and somebody's supposed to be catching the ball if you don't catch the ball from your quarterback which is in this case your loan officer nobody's won in the game right by the end of this video you're gonna know exactly what to look for in a mortgage lender to make sure that you end up with the right lender that is right for you because it's a marriage it's a relationship and not everybody's going to mesh perfectly so stay tuned for all the tips and tricks welcome back to one stop shop for anything and everything mortgage education my name is stephanie weeks and i am a 17-year mortgage loan officer and i've been recognized in the top one percent in the nation for production several years in a row out of 300 or over 300 000 loan officers stick around i hope you enjoy the material in this video and i really appreciate you being here please be sure to like the channel subscribe to the channel and hit the bell to be notified every time i drop new videos have you ever had a relationship and you wish that oh my gosh i wish i could erase it i wish that never happened it was terrible well buying a home you were in a massive and detailed and very serious relationship where there is nothing covering anything because the lender you find out all of it so you are totally exposed and that is not a relationship that you want to regret later trust me millions of people have been in that situation and it's something that my passion is to help you all avoid so hang in there with me i want to help you avoid that heartache help you avoid that headache and teach you everything you need to know to pick the right lender for you so let's dive in what to look for in a lender number one remember i said that you are in a very serious and very exposed and very vulnerable relationship so the first thing that you need to look for is a lender that you feel very very comfortable with and sometimes you're super lucky you can make one phone call and it's like boom it clicks you got it right but sometimes you have to make two or three phone calls you want to make sure that you feel comfortable you want to make sure that you feel like they are being honest direct and detailed with you not super like general this general that right that's going to be tip number one in finding the best lender for you tip number two what should you ask the mortgage lender well you want to ask them about their process you want to ask them how do they go about pre-approving and what types of things go into how they decide the best mortgage for you you want to ask them what kind of updates you can expect throughout the process like hey you're going to take my loan application you know when might i hear back from you on the pre-approval once we get under contract how do i know what's going on how do you keep me posted that way you know that in this relationship you have really really good communication because as we all know one of the main things about having a wonderful relationship is one that involves very clear concise and comfortable communication so that's my tip number two for you number three what not to ask the mortgage lender how about we don't ask them things like hey i know the program goes on household income but do we have to say that i'm going to live there if i'm not on the loan don't ask your lender that don't ask your lender things like shyster kind of ways to work around things again clear concise communication and honesty is huge with mortgage lending what a lot of people don't realize government don't fly dude and mortgage fraud has a 30 year up to 30 years in prison and up to a million dollar fine so disclose everything be fully honest be fully transparent and don't ask your lender like oh can we just not tell them that no it's not how it works so honest clear communication what not to ask your lender number four a lot of what goes into finding the best lender for you is you to be a good team with them and be very responsive give them the information that they need produce whatever they want and produce it very very quickly remember to be very very transparent and that's going to help you have a really great transaction with that lender you want to feel like they are doing the same for you and my philosophy is always with everything in life go with your gut so if you're working with a lender and you just don't have a great feeling that person might be a great person but maybe they're just not right for you specifically so make sure that you're comfortable that you go with your gut and that you're a good teammate for them listen you're gonna laugh at me i'm short because i'm gonna say it wrong because all my friends and family make fun of me because i knew nothing about sports like unreal nothing because it's just it's not my thing anyway so back to the teammate part right i think a quarterback throws a ball i think that's how it works so the quarterback's throwing a ball and somebody's supposed to be catching the ball if you don't catch the ball from your quarterback which is in this case your loan officer nobody's winning the game right so you make fun of me for that later because i probably said it wrong but i hope you get my point tip number five what to look for to find the best mortgage lender for you you want to know what they do throughout their process and here's what i mean by that there are some lenders that will help you and get home insurance quotes for you it may not work for the insurance company they don't care what insurance company you go with but it's just done as a courtesy since they're doing that all day and you don't do that some companies are going to maybe get title quotes for you and that's going to help you figure out a good estimate of what everything's going to cost you and but not all companies offer that extra step as well so you want to ask them what kind of things they do in the process like do they help you with shopping home insurance and understanding it do they help you with shopping the title company and different little extra things like that because they really go a long way when we are working on your loan we're working on loans all day it's what we do but most likely you are either dealing with your family or dealing with your spouse or trying to work your job trying to live your life and you're trying to fit in this process into that so you're not kind of sitting around all day working on all these quotes but the lender might be able to do that for you so that's another question that you can ask to find the right lender is what kind of things that they do in their services and help you with things a little out of their forte that might help you to have a smooth and on-time closing and my last tip for today's video goes back to communication every customer's different and every loan officer is different some customers they want to be updated and communicated by text some prefer email some want to hear your beautiful voice on the phone and actually have an old-time telephone call you knew that that's so unusual now but you need to tell them what you prefer and then you find out what they prefer as well and i say that because the last thing that they want is for you to delay the process because you're not answering quickly and the last thing that you want is to not be able to get in contact with them because they're they're probably going to need to answer certain questions for you that may be time sensitive and you want to make sure that you guys are reaching each other as quickly as possible so find out the best ways that they like to be communicated with and how quickly that they can respond and also tell them the same for you that way you guys have that clear expectation to make sure again that you have a what a smooth and on time closing my free download for you today is types of home ones check that out i'm gonna drop it in the comments section below or maybe in the bio to this video and maybe message me if you don't mind i would love to hear some feedback i hope the form and cheat sheet i've created really really helps you out in the comments section below type in when in all caps w-i-n and a number from 1 to 10.

buying a house

10 being oh my god your mind is blown and you feel so much more confident in choosing the right lender for yourself after having watched this video if you liked this video today give me a big ol thumbs up and subscribe to the channel don't forget to hit the bell to be notified every time i drop new videos and listen i appreciate all of your feedback i love hearing from you guys so even if you did not enjoy the video give me a thumbs down give me a comment if you feel like i've left something off i really appreciate your feedback and i really really appreciate your time

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