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Looking to Refinance Or Purchase A Home

Posted on December 18, 2015 by Ray Williams (NMLS #216267).

Looking to refinance or purchase a home? Right now you are probably gathering information on looking for a home mortgage.  Whether you are refinancing or purchasing you are probably doing some web browsing on the main criteria of what you are looking for, maybe it’s the best lender in Denver, lowest rates, down payment assistance grants, FHA lender, etc. Whatever your purpose or criteria I’m sure your head is probably spinning with all the information you may be coming across and wondering what will be the best choice.

The next step is making the call and talking with the lender and/or company to see how they can help you.  Or maybe you haven’t called yet you just put in an online inquiry. My question to you is what is important to you? What are you looking for in a lender?

Maybe it’s the lowest rates or fees, exceptional customer service, best loan options or maybe you need a CHFA lender or down payment assistance program.  Maybe you want to renovate the house you already own or are buying and wrap in the costs to the new mortgage. Before reaching out to a lender you need to know what you are looking for in a lender.  You also need to understand that every lender works differently.  Most lenders will be competitive in rate and fees, it’s very rare you will find a lender whose rates and/or fees will be significantly lower or higher and if you do my advice is proceed with caution!  

If you are always looking for the lowest rates and fees you need to accept that you may not be getting proper attention or a high level of service.  I won’t say always but I can say it’s rare to find lowest rates and/or fees AND great service.  Coming from the experience of our clients we have had MANY of our clients come to us from another lender, in which they were not getting great customer service.  Unreturned phone calls, delayed communication, no communication, rates changing last minute, required funds for closing changing last minute, etc.. When we discussed this with them they admitted to us that they chose this previous lender because they got the lowest rate and/or fees.  Sometimes it was that they offered a “faster” closing.  All of which did not successfully get executed in a seamless manner, if at all.  You know the saying you pay for what you get, well, unfortunately this holds true as we all have probably experienced it at one time or another.

My best advice is to really know what exactly you are looking for in a lender, and have a good idea of what is really important to you.  What matters? Is it attention to detail, prompt communication, knowledge, guidance, rates/fees, reputation, or a combination of these items. You are financing your home and likely the largest investment and piece of debt you will hold. And if you don’t know what exactly is most important yet, start calling, don’t jump to get pre-approved or ask a lender their rates, just talk with them.  Tell them your goals, what you’re looking for and discuss what is important to you.  After talking with a few lenders look to get pre-approved with the one you felt you were most comfortable with and who helped you the best.  

If you have any questions, please reach out to us, we are always here to help.

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