Choose the Right LOAN OFFICER, as well as the right Lender.

While it may be tempting to choose a loan officer and lender strictly based on the lowest-quoted interest rate, it is recommended that the decision be prioritized by a different standard - their reputation. As the loan officer to provide you with testimonials from past clients, as well as ancillary-related professionals (you can see mine here). Google your prospecitve loan officer's name and see what type of information that they are contributing to help buyers and sellers and Realtors®. (It is suggested you google the first and last name of the loan officer, the word "mortgage" and the city and state in which their office is located - put this information all in quotation marks, ie: "Sue Botelho Mortgage Destin FL") Ask local title companies of their experience in working with the loan officer - were the closing packages sent in time for the contractual closing date, was the package sent complete and correct, etc.

The process of finalizing a loan has many steps. A lot of paperwork must be drawn up, verified, processed, and signed by all of the parties within a relatively short time frame. Mistakes made by a loan officer can delay, and in sometimes completely end, the transaction completely. As a result, most Realtors® have horror stories about buyers that picked a loan officer and lender based only on their low-rate quote, only to have not only something in the transaction blow up, but the rate at closing to be higher than promised!

An irresponsible loan officer or lender can ruin your purchase. Keep yourself alert: start you loan officer/lender search by shopping reputation, not rates. Or course, rates and fees do matter - a lot! A good loan officer will let you know ahead of time what the current rates and fees are for their loan produces so you will know if they are fair and competitive. A GREAT loan officer will have a pulse on those markets that drive interest rate direction and choose to either lock or float their clients' interest rate to assue that they get the benefit of the loan officer's expertise and knowledge and that they get the lowest payment/rate available during the processing of the clients' application.

In the end, having the right loan officer working for you can assure you that all of the details will be handled accurately and timely and that the clients are getting sound financial advise. Peace of mind is the number one priority!