Choose a Lender and get Pre-Approved
Once you’ve found a Realtor to represent and advise you on what is going to be the biggest financial transaction you ever make, you need to choose a lender and get preapproved. As Realtors, we won’t put an offer in on a home for a client unless he or she has been preapproved or is an all cash buyer. In addition, it’s important that you have an understanding of how much you can comfortably afford to spend on a home, what your monthly payments will be, what interest rate you qualify for, and how much you’ll be paying each month in taxes, etc. Good lenders work with agents by customizing pre-approval letters to match our offering price, answer inquiries from the seller's agent, and shepherd the loan process toward closing.
Having a good mortgage lender is a crucial part of ensuring a smooth transaction. Working with a bad mortgage lender can make the process a living hell for everyone involved and put your purchase in jeopardy of not closing on time or at all. You also might end up regretting the lender you chose for years if you end up paying a higher interest rate than you should have if you had shopped your loan through various lenders. You could also lose out on your dream property because your mortgage lender was disorganized and couldn’t get you fully approved during underwriting, etc. That’s why it’s important to work with the best.
In addition, each lender usually has a preferred title company—someone they have established a good working relationship with. Although you can shop for the cheapest title company, I prefer to refer my client to each lender’s preferred title company as it helps make the entire closing process smoother. Below my recommended lender I will include the name of their preferred title/escrow officer.
My recommended Lenders are:
First Colony Mortgage
Guaranteed Rate Affinity
Cell: 801 955 8019