Buying A Home - How To Choose A Lender For Your Mortgage

Real Estate Agent with Better Homes and Gardens Rand Realty


Home buyers have many options when selecting their mortgage lender. The lowest price or best terms are not the only considerations. The key ingredients are interest rate, terms, AND service. Use the following tips to guide your selection:


  • Make sure that the lender gives you the rate and terms in writing. It is easy to quote a good rate to capture your loan. If you don't get it in writing, the quote could change. To keep a rate your lender quotes you, lock in the rate and get it in writing.
  • Share your main mortgage goals. Then let the lender offer suggestions on which vehicles meets your needs. If lenders don't offer counseling, their service is below par.
  • Determine how accessible your lender is during loan processing. Ask how the loan will be processed and who will be available to answer your questions. Ask for a direct line. If the lender resists giving you a direct number, you may have difficulty getting through at an important time.
  • Ask about the processing support the lender has available. If the lender does his/her own processing, takes loan applications, and prospects for new business, he/she may be too busy to take care of your loan in a timely fashion.
  • Confirm processing time. If the lender cannot promise a date, then you may not be able to confirm your contract closing day.
  • Ask your for lenders they have worked with who give competitive rates, terms, AND great service.


Learn more about obtaining written proof that you can qualify for a loan or learn about the different types of mortgages and mortgage products.


The Role of Your Lender

The right fit between lender and mortgage products furthers your financial goals. Your lender will counsel you about the best mortgage product for your financial profile. You should be candid with your lender about the specifics of your financial information and share future goals and explore any concerns about your mortgage.

Your lender weighs how much money you have, your debt load, and your income. Other considerations should be the likelihood of a significant change in your income, future financial goals, your ability and willingness to save, your spending habits, and how mobile you will be in the near and long term.

The property itself may influence your choice. A property in need of major repairs may dictate the balance between the money for down payment and funds designated for repairs. Your lender can provide the best advice when you've provided a true picture of your situation.

Your lender provides the pathway to your mortgage by packaging information to showcase you to the underwriter. If your credit is tarnished, your lender can help you clear it up. If your credit has been damaged, your lender can work with you to design a repair strategy and obtain a mortgage at a later time.


Anthony Stokes Pereira (845) 624-8100 Ext. 188

Better Homes and Gardens Rand Realty

I can help you with every aspect of buying or selling your home because I'm experienced, because I am a Better Homes and Gardens Rand Realty Real Estate Professional . . . and because I care.

As your Better Homes and Gardens Rand Realty Sales Professional, I will provide you with the information you need to make an educated decision.

The relationship between a home buyer or seller and their agent is based on trust, shared goals and understanding. I strive to continually improve and to do this I listen and take the needs and wants into consideration.

For assistance with any of your real estate needs, please contact me, whether it's to get started on helping you realize your goals and dreams, or just to ask a question - no pressure, no hassle, no obligation- just a friendly conversation. I would welcome the opportunity to make a difference for you.

Anthony Stokes Pereira

Office: (845) 624-8100 Ext:168

Cell: (845) 538-7021

Fax: (845) 624-7137


Better Homes and Gardens Real Estate - Rand Realty, founded in 1984, is the No. 1 real estate brokerage in the Greater Hudson Valley with 25 offices serving Westchester, Rockland, Orange, Putnam and Dutchess counties. Rand has more than 800 sales associates, as well as a commercial real estate company (Rand Commercial Services), mortgage company (Rand Mortgage), title company (Hudson Abstract Services) and insurance agency (The Hudson Group Insurance Agency). The company’s Web sites are:,,, and Rand Realty is also on Facebook and Twitter. Anthony Stokes Pereira web site . Information deemed reliable but not guaranteed.

Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Anthony:  It is so important to be working with a LOCAL lender who has a proven track record of delivering on promises made.  I have several proven lenders that I have worked with before, and I always give my buyers the choice of talking to all of them before they choose one.

Jan 07, 2012 12:26 PM
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Anthony, when I come across buyer that need a loan for their purchase, normally I recommended them to call a lender has an office they may walk in, in case they do not return phone call or email.

Jan 17, 2012 02:53 PM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Great tips on how to choose the right lender for probably one of your biggest investments of your life!

Jan 22, 2012 09:32 AM
Catherine Sinocruz
Coldwell Banker Select Real Estate - Reno, NV
Broker-Salesperson, ABR, GRI, CRS

Good advice.

Jan 26, 2012 08:16 AM
Barbara Heise
Keller Williams Realty STL - Saint Louis, MO
Search for Homes for Sale in St. Louis

Thanks, Anthony.  Good advice.  The only thing I can add is  to make sure they are local and you feel comfortable with them.

Feb 13, 2012 11:41 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Vital ibnfo for a large number of folks! Good stuff, Anthony! Keep it up! 


Love and light as always,


Feb 24, 2012 11:52 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

You really should put this all in a manual :)

Apr 27, 2012 01:29 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I just stopped by... but I do think # 3

May 03, 2012 01:21 PM
Short Sales, Foreclosure & Bank Owned Real Estate

Great Post Anthony! Important advice!

Jul 21, 2012 12:17 PM
John Pusa
Glendale, CA

Anthony - Thank you for sharing very good detailed information on buying a home, how to choose a lender for your mortgage.

Jul 21, 2012 02:23 PM
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley Realtor since 1976; 408-373-4411

Anthony, I agree and bricks and motar local lender is best.  Which is best: mortgage broker, mortgage banker, national bank, local or community bank.  Seems like mortgage brokers have been so over-regulated they're hard to do business with.  Is that my imagination?

Jul 22, 2012 10:28 AM
Roy Kelley
Retired - Gaithersburg, MD

I hope all is going well for you and you will soon be posting again.

Have an outstanding summer.

Aug 05, 2023 08:04 AM