How do I shop for my home loan?
It could be the most asked question I’ve had, but contrary to popular belief, shopping around for your interest rate is not the best way to ensure you get a great loan experience with competitive rates and fees. Instead I recommend you shop for your lender.
Here are a few things to consider:
- Get a referral- If you trust the referral, chances are you’ll trust the lender too.
- Know what are you looking for in a lender-
- Do you want a local company?
- Do you value someone you can meet with in person? fcide how you want to get to know your lender
- Do you want to sign digitally, or upload your documents online?
- What is your standard for communication?
- Reliability- pay attention to see if your lender does what they say they will do.
- Ask Around- If your referral is not enough, ask other clients of that lender how their experience was, or check online for reviews.
Check out my best advice for a great home loan experience every time.