How to pick a loan officer

by: Joshua Jarvis

The importance of a good loan professional is one the most overlooked items in the home buying process in GA.   Here’s a run down of the things that can happen:

 

  • Missing Closing Date – Cost you time and money (the banks can charge a per diem!)
  • Surprise at Closing – Ooops, we forgot to tell you need $3,000 more at closing
  • Thinking you are approved when you’re not!  – Costs you lots of time and money (after all you spent on the inspection and the appraisal!)
  • Getting the wrong (or not the best program) – HUGE!  You need a loan professional to walk you through the process to get the best program fro your situations.  Definitely costs you money, lots of money.
  • Failure to explain the loan process
  • Failure to explain the Local and State challenges in the loan process – In Atlanta there is an attorney but they don’t represent anyone but the lender vs New York where everyone has an attorney, even the insurance agent.
So how do you know if your loan professional is good.
  1. Get a referral
  2. Make sure they are local – some online ones are good, but again, I’d check for a referral.
  3. Ask them questions! – Are you comfortable?
  4. This is the person that is handling your money – ask yourself if you feel comfortable with them
We could go on and on, but notice none of these talk rates.  With very few exceptions the rates are generally the same across the board.