The 3 Things to Consider when Choosing YOUR lender

As a consumer shopping for mortgage financing you should first understand that YOU are in the driver’s seat and choose who YOU wish to work with. When deciding who to work with consideration of the following 3 aspects is a great way to begin;
  • Interest Rate – The “cost” of the money borrowed should be a very important part of your decision.  In most cases you will find very little variance from one lender to the next with this regard however you should be mindful of whether or not there are any discount points paid for rates advertised (often referred to teaser rates and very common amongst online lenders).  The rate you receive will be based on current market conditions and your specific qualifications and can change daily.  When shopping for rates be sure to obtain quotes based on identical variables such as your specific qualifications and market conditions to ensure the playing field is level.
  • Procedure/Turn Times – Understanding the process that your lender has is another important aspect.  Working with a company that has in-house processing and underwriting often expedites your approval for financing and ensures that you meet or beat the performance dates on your purchase and sales contract.
  • Service – In my humble opinion, the most important aspect.  Working with an individual and company that is truly concerned with your “experience” and one which you have report and confidence with is paramount.  For me it is all about accountability, I live and raise my family in the very area in which I do business, having a sound reputation is incredibly important to me and shows in the manner in which I handle myself and my clients with their financial decisions.  It comes down to a simple philosophy, treat others the way you would wish to be treated.
When purchasing real estate choosing the right professionals to assist you in this journey will be the key to YOUR success, I have been blessed in my career to surround myself with whom I consider the very best at their profession and welcome you to contact me and my team to help Guide You Home.

Content submitted by;

John Faria
Sr. Mortgage Advisor, NMLS #397424
Province Mortgage Associates, Inc., NMLS #2861

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