Choosing the right lender can be a tricky process, but Realtors are better equipped than anyone to help you find the right fit for you.
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Should you reach out to your Realtor to help you find a lender? Absolutely.
All lenders are a little bit different, and they each offer different products. Depending on your situation, we can help guide you in the right direction for a good fit. What specifically, though, are the advantages of going with a lender that your Realtor recommends?
For one thing, a lender chosen by your Realtor has already been pre-screened and is almost guaranteed to be good at their job. You also know that they will close the loan on time. When you pick a lender from a Google search, on the other hand, you never know what you’re going to get.
What kind of lender you need depends on your individual situation.
To that point, is it better to go with a larger institution, a smaller bank, or a mortgage broker?
It really depends on your individual situation. Larger institutions take a little bit longer to close the loan. Sometimes this can be a disadvantage in a multiple offer situation. Mortgage brokers are usually quicker to close the loan, but some don’t offer the products that smaller banks offer. Smaller banks can sometimes give you an advantage in the low down payment category.
If you have any questions or need help finding a lender, please feel free to give me a call or shoot me an email. I look forward to working with you!