A key component to any successful real estate transaction is a reliable, knowledgeable, trustworthy and expeditious lender. I’ve worked on many transactions with lenders that have proven to be diligent, honest and flexible to ensure their clients have positive loan experience.
As a buyer, you will likely have many loan options available to you. Upon receipt of your application, it is important your lender review all loan types that you qualify for and that which will best fit your needs. They are able to assess the specifics of the loan as they relate to your needs and make recommendations.
Many times, if credit is lower than needed, a good lender will provide tips and suggestions so that you can raise that credit and at times, can do so within a week. If a more long term plan is needed, they will work with you to help you prepare for a loan qualification later in the year.
There are many misconceptions about credit and mortgage loans. To clarify, if your credit was pulled in the last 45 days, your score will not be affected should a lender check credit for mortgage purposes. If your credit was pulled more than 45 days, your credit score will only decrease by 1 point. And if your down payment options are limited, your lender can and should work with you to devise a loan program that does not require any out of pocket contributions at closing.
When considering lenders, it is important to review all costs associated with the loan. Some lenders will offer a lower interest rate but a rate discount fee applies. Some will not offer all loans available (FHA, Conventional, Rural House, Kentucky Housing, etc.). It is important that you review all fees, circumstances, promotions, closing timeline commitments and reputation before selecting a loan/lender.
The most important thing to remember when choosing a lender is that you must be comfortable working with them. You will be sharing personal financial information with them throughout the transaction and will rely on them to advise you on decisions that will ultimately affect how much your home costs you.
Feel free to reach out to any of these lenders to begin the lending process – they are all worthy of consideration!
Racee Greene, Century Mortgage
Brad Schooler, Bank of England Mortgage
Stephen Neary, Chase Bank
Contact Stephen OR Apply Online
Julie Baker, Fifth Third Bank
Questions? Feel free to contact me at 859-551-1160 or jen@jtmbg.com.
