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The Choosi Blog

The Truth About Choosing a Lender: Why Interest Rates Might Not Be as Important as You Think

When it comes to buying a home, finding the right lender can make all the difference. But how do you know you're getting a good deal and what questions should you ask to find the right lender?

First and foremost, it's important to recognize that shopping for a lender based solely on interest rates is not the best approach. Most good lenders will offer competitive rates and fees that are similar to their competitors. Instead, focus on finding the right loan officer or lender that fits your needs.

Start by looking for someone who communicates well with you and provides their direct contact information. You want to be able to reach them outside of normal banking hours because real estate doesn't stop. Look for someone who has experience working with realtors, as they will have a better understanding of the real estate transaction, not just the loan transaction.

To ensure that you find the right fit, do a little bit of research before committing to a loan officer. Don't just work with the first person that was referred or recommended to you. Take the time to look into their experience and make sure that they are familiar with the type of transaction you're pursuing. For example, if you're purchasing a home in a different state, make sure the lender is familiar with the different fees and closing requirements in that state.

To sum up, when shopping for a lender, prioritize finding the right loan officer or lender fit for you. Look for someone who communicates well, provides direct contact information, has experience working with realtors, and has the expertise to handle your specific transaction. By doing your research and asking the right questions, you can find the right lender to help you navigate the home buying process.

We sat down with the amazing Mandy Phillips, the brand manager and loan originator who serves all of California at Vista Home Loans.

In our conversation, she gave us some incredible insights on how to prep your budget, find the right mortgage officer, and even how to get a mortgage if you're self-employed

Check out the full episode here or wherever you get your podcasts!

Whether you're ready to find your dream agent or just want to stay in the know about the latest home buying news, be sure to subscribe!

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