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How to Choose Your Mortgage Lender

Choosing your mortgage lender

How will you choose your mortgage?

After deciding to buy a home, there will be a lot of decisions you have to make. From where to live to the number of bedrooms you’ll need to the amount of money you will be spending, the sheer amount of questions can be overwhelming. But one of the first questions you will have to think about is which mortgage lender you are going to go with. While it may seem like lenders are a dime a dozen, they can actually differ greatly from each other. So how do you choose a mortgage lender you won’t regret later? By following these tips!

What Matters Most?

When selecting a mortgage lender, the first thing you will want to think about is what matters most to you. Things like annual percentage rates, interest rate, monthly payments, lender fees, loan programs, customer ratings and reviews, and the cheapest overall costs are definitely things you should think about. But which of these things matter the most? Once you have the order in which they matter, it is time to look for lenders.

Should You Go Big or Small?

The next step is to decide if you want a small lender or a big one? While a bigger lender may have better rates, you probably won’t get the customer service that you would at a smaller institution. You should research these two options to decide which is more for you. If you care about customer service and working with a specialty company, choose one closer to home.

Are They Willing?

Once you have it narrowed down to one or two institutions, it is time to make some inquiries. When you first have contact with a potential mortgage lender, are they prompt to respond? Are they friendly and courteous or abrupt and rude? Do they honor their online quote or brush it off? Do they take the time to explain things to you? These are all things that are extremely important and should be used to determine if you will work with them.

Check Out Online Reviews

While online reviews should be taken with a grain of salt, they are a useful tool that can be used to help finalize your decision. While the person on the other end of the phone may seem nice and helpful, if their reviews are all negative about raising rates or dropping their services mid-sale, that is not a lender you want to work with. Using a site like the Better Business Bauru or other review site, you will be able to see if the lender is even worth pursuing.

Finding a mortgage lender doesn’t have to be a difficult process if you know what you are looking for. For more information on finding a lender and working with Clagett Enterprises, call us today!

Finding a Mortgage Lender with Clagett Enterprises

If you’re looking for the perfect realtor for your family, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistant selling your home and getting the best possible price, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on FacebookTwitterPinterest, and Google+.

 

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