[vc_row][vc_column][vc_column_text]Finding the most skilled financial mortgage expert is not easy in this hyper-competitive mortgage lending industry. The market is full of a diverse portfolio of mortgage lenders like banks, online lenders and mortgage brokers, but my experience tells me that If you want a customized lender that could adapt to your scenario, maybe you agree with me that the mortgage brokers are a good option to consider.
But, what do you need to look for in a mortgage broker?[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
1. Is your mortgage loan officer licensed?
[/vc_column_text][vc_column_text]Not all the mortgage loan officers are required to hold a mortgage license to support your loan process, some of them, are acquiring it on the way. However, it is important for you that your loan officer has the necessary theoretical knowledge to process your loan.
Every loan officer officer must have a license according to the SAFE Mortgage LicensingÂ Act, which is received after approve a national exam and a criminal and credit background check. Once the license is received, loans officers must renew it regularly. You can check if your loan officer is licensed and operating professionally in the Nationwide Mortgage Lending Service (NMLS) Consumer Access website.[/vc_column_text][vc_column_text]
2. May I trust this company?
[/vc_column_text][vc_column_text]Check on the referrals! Real experiences are the best information source, contact your friends and family that have had previous experiences with the mortgage company to gather their advices and opinions.
Another way to do it is to check on the reviews of previous customers. You can check different sources like Google +, Facebook, Zillow, Redfin and Trulia.
Besides this, you can easily get your own thoughts based on the communication with your mortgage loan officer, is it a timely follow up? Remember, better loan rates depend in how fast your loan can be processed.[/vc_column_text][vc_column_text]
3. How experienced are they in working in cases like mine?
[/vc_column_text][vc_column_text]Itâ€™s true that all cases are different and canâ€™t be used as a point of reference for the next one. But itâ€™s also true that the success of your home loan process depends on how skillful and knowledgeable your home mortgage company is in handling similar cases as yours.
How did they deal with low credit score? May you avoid the closure cost?Â How much you can save when refinancing your home loan? Ask your home mortgage officer for previous experiences, so you can get an idea of their skill set and you can get some takeaways to benefit your loan process.[/vc_column_text][vc_column_text]
4. Personalized financial advice
[/vc_column_text][vc_column_text]Every home loan is different and varies depending the financial situation of the future borrower. A good mortgage company is the one who not only advices you depending your financial situation and loans aspirations, but also guide you through all the entire process.
You need a mortgage company that could offer you a regular communication, excellent customer service, professionalism and personalized financial advices that fit and improve your loan scenario.[/vc_column_text][vc_column_text]
5. Do they have the right program for you?Â
[/vc_column_text][vc_column_text]Whether you are looking for your first home loan or for refinancing, you may be wondering which loan is right for you. Statistically speaking, most people will choose a fixed rate loan because it is the safest option, however, it is important to highlight that everyoneâ€™s situation is different and it is not always the most financially savvy option.
It is important that your home mortgage company explores with you the different loan programs and suggest you the right one for your scenario. Even, some mortgage companies refers your case with other financial entities that could handle better your case. In this way, you can make an educated decision for you and your family.[/vc_column_text][/vc_column][/vc_row]