How to Find The Right Loan Officer

How to find the right loan officer

It all boils down to this; a good loan officer equals good rates. Finding the right loan officer can be overwhelming but with the right tools, it will all work out just fine.

Instead of immediately looking for a loan officer, first find a lender that meets your needs. If you are a first time home buyer, it is worth asking if they have a specific program that is geared towards your demographic. This is so important because this likely means that they have loan officers who are used to working with first time borrowers and who will be able to guide you through the process and answer any questions. Depending on your experience with loans and what your needs are, you may wish to seek out a downpayment assistance program or a lender that has worked with low credit scores.

Interviewing different loan officers is also incredibly important because you want to make sure that whomever you work with you connect with. Although there are many online programs that offer loan assistance, there is something to be said for face to face human connection. They will not be solely looking at your credit score but also your annual salary, debt-to-income ratio and total amount of debt because they will get to understand your financial history and future through conversation. A few questions to ask a potential loan officer includes:

How many years have you been a licensed mortgage lender? *Pro Tip:ask for their license number and look it up on the national registrar to see if there have been prior complaints.

Will you be working with their loan processor or them throughout the process?

How strong are they with evaluating tax forms?

Are they good at customer service and communicating with all 3rd parties involved in the transaction? 3rd parties include your realtor, appraisal companies, etc.

A good loan officer will be able to not only access your needs but also be able to provide you with the level of communication you want. Just as important as finding a good loan officer is working with a realtor you can trust. If you are looking for a Ventura County realtor we have the experience you need. We also have all the latest information regarding homes for sale in Moorpark.