First Time Home Buyers Loan Officers Mortgages

The Importance of a Good Loan Officer – Yes, It Matters!

When you decide to buy a home, who makes it happen? Who is in charge of the magic that drives the sale? If you said the real estate agent, you would be wrong! While a real estate agent is very important in the purchase or sale of a home, they don’t make the magic happen. That distinction goes to the loan officer. Because of this, it is essential that you choose a good one for your purchase. To find a loan officer you can trust, ask these five vital questions.

  • What is your fee? – Even though you don’t pay the loan originator’s fee directly (it is embedded in the price of the mortgage), a good lender will not mind explaining his or her fee and how the structure works.
  • What lenders do you deal with? – A loan officer will often work with several lenders, so you have flexibility. Find out what options are available.
  • How long have you been in the business? – While you do not always have to choose a lender who has been working for a certain length of time, it can give you some insight into his or her knowledge. If the lender is new, perhaps you would ask if there is another individual on staff who can provide additional insight too, if you ever feel uncomfortable.
  • Do you have experience in the type of loan I am seeking? –  If you are planning to obtain a VA or FHA loan, for instance, it can help to work with a lender experienced in that particular loan type.
  • Does your company hold the loan or flip? – You may not always be able to get a straight answer to this question, but it’s nice to know if your lender PLANS to flip straight away—or not.

As you can see, there is a lot to think about when choosing a lender and a reliable lender is crucial to the success of your home purchase. If you want to discuss buying a home in the future with someone who knows the business, reach out to us at Liberty Financial. Our loan officers have the knowledge and expertise to help make your dreams come true.