Whether you are a first-time home buyer or you are purchasing your third home, finding a good lender can be a challenge. It might be tempting to simply go with the lender that offers the lowest rate. However, this isn’t always the best choice. It is good to get a couple rates, and then take some time to interview the lenders to find the best fit. Consider these factors from Westmont IL real estate agent Paul Titterington when finding the lender that is right for you.
Where to Look
A quality lender is one that can, first and foremost, qualify you for a loan. Yet, you’ll also find that a good one will be able to advise you on ways to increase your credit and work through how your mortgage payments fit within your overall financial plan. So where do you find such a lender? As a Westmont IL Realtor that works with lenders, it is recommended that you seek the counsel of a qualified real estate agent. If you are in or around Chicago, contact Westmont IL real estate agent Paul Titterington. You can also consult your bank if you have had a good experience working with them.
Questions to Ask
The obvious inquiry for a lender you are considering is their reputation for getting loans. You’ll also want to ask about comparing mortgage rates and their overall experience. If you find that a given lender is inaccessible or too pushy, you’d do well to find another. Helping buyers work with lenders is a significant part of serving as a real estate agent in Westmont IL. Ask about options for loans, as well. If they are willing to clearly articulate the various options with their distinct benefits, your confidence in them will grow. Here are a couple other questions when interviewing a lender:
In summation, a good lender is one that is willing to focus on your interests and work with you through the process. If you choose a good real estate agent, they likely will have a recommendation of a lender they work with. For more information on everything real estate, or if you are looking to buy near the Chicago suburbs, contact Westmont IL Realtor Paul Titterington today!