You can come across a good amount of advice online on buying a house. You’re likely to encounter a question many homebuyers are asking: Should I go with the mortgage lender recommended by my agent or should I find one myself?

This is a very important question.

Suggestions for Realtors vs. a Home Lender

Experiential real estate agents often have a list of professionals they enjoy working with, including lenders. It is easy to recommend an agent that you are familiar with, especially since moving and buying a house can be stressful .

It is essential to have people who are familiar with your business and can help you get things done quickly.

It’s okay to consider a recommendation. It’s your money. You must do your research.

Today’s homeowners spend more of their income than they did 20 years ago. Rates of interest can change every day. There are many types of loans available, so it is important to understand all aspects before you make a major financial decision.

You need to feel comfortable and confident with your loan officer throughout the mortgage process. They are crucial in helping you to understand your options and get you through the loan process without any stress or anxiety.

How to find a mortgage lender

How do you find a mortgage lender who can offer the best terms and interest rates for your money?

Find the ideal mortgage broker for your needs

While most home buyers believe they should shop for the lowest interest rate, pricing can vary between lenders. It’s usually the type of home loan you get and the loan terms you choose that save you the most money.

You must have excellent credit and make a large down payment to be eligible for today’s lowest rates and fees. These two items are essential in order to find a lender that can accommodate your individual circumstances.

Learn more about your options

There are two types of mortgage brokers and direct lenders. Brokers can match you with different lenders and direct lenders will work with your institution.

You can find the right loan for you at your bank, credit union or brokerage.

You should be looking for the person and not the institution.

For getting the right loan, the loan officer you work alongside can be even more important than the mortgage institution. You should look for someone who is knowledgeable about the area where you are buying and can help you with loans.

Recommendations from family and friends will come in handy for finding knowledgeable mortgage professionals.

Questions to ask a mortgage broker

After you have found two to three lenders that you are interested in working with, the two most important questions you should ask are:

  • What type of home loans are you able to offer?
  • What type of loan is best for me?

A great lender will have access to regulated loans and the experience and knowledge to choose the best mortgage program for each buyer.

You can also ask your mortgage lender questions like:

  • Are you a participant in any down payment assistance program?
  • How much are your closing costs?
  • What is the average time it takes to get a mortgage approved?
  • What documents do I need to provide?
  • How can I lock in a low rate of interest during my application process? And what are the fees for this?
  • How can you communicate with clients?
  • What will the cost of title, escrow agency, or attorney?

Ultimately, It’s The Relationship that Comes First

Trust in your agent is something you should never forget. Realtors and loan originators often work together, which is why it’s important to build relationships.

Remember that your relationship with your money is the most important thing when you apply for a home loan.

No matter whether you work with your agent’s recommendation or find your own lender, working with a loan officer who asks the right questions – like the knowledgeable, experienced ones at Capital Bank – can help you get the loan that’s right for you.