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Does my Mortgage Lender Matter?

There is no shortage of places to get a home loan from and there are plenty of qualified professionals who work hard in the lending world. Picking a lender is an important piece to the real estate puzzle, so how do you choose one? A good lender will help you avoid the issues that can cause delayed closings, sudden changes to terms of the loan and keep you from laying in bed with a massive headache worrying about how you’re going to buy your home. The best lender is the lender you know and trust.

When choosing a lender, there are a few things you should consider. You want someone you feel comfortable around, you want someone who knows the business and the loan products available, but most importantly, you want someone you can meet face to face.

Without that face to face connection, loans can become frustrating to the point of banging your head against a wall. This is why most real estate agents will advise against internet-based lenders. Although some of them may offer slightly better rates, if the loan doesn’t close, you’re still left without a home and that better interest rate means nothing.

Ask your agent who their clients are using and who is getting the job done. Ask your friends and family – but don’t ask your uncle who bought a house once in 1963 that isn’t in the same state as your new home. Local is the best way to go.

Once you find a lender that rocks – let others know, pass their name on. Just like real estate agents, lenders rely on word of mouth and referrals to build their business. Knowing your lender face to face can make a huge difference in the home buying process, so interview a few and find that perfect match.