Choosing a Lender When Buying a Home - LuxHomesMN

Choosing a Lender When Buying a Home

We are bombarded daily with ads for lenders that boast that they can approve you quickly. But is speed really what you should be looking for while purchasing what will likely be the most important purchase of your lifetime? A good lender will work with you to get all of your information and documentation up front and make sure you are qualified to buy a home before they provide a pre­ approval letter.

Similar to working with an agent, communication is key when working with a lender.  You want to be able to pick up the phone and ask questions when they come up, and have a clear understanding of the types of loan programs, so you can determine what works best for you.  Communication goes both ways, be sure that you are responsive when your lender requests documentation or information, your closing date may be delayed if the lender does not have what they need in a timely manner.

Choosing a lender when buying a home does not need to be difficult. We suggest talking to friends and family or your agent about lenders that they have worked with successfully in the past.