Tips for choosing a Lender

1. First of all, talk to people… Who did they use, and did they have a great relationship with the lender? Did the lender return their phone calls & seem to work hard for them? You want a lender who is going to work hard for you, and not leave your file under a big stack at the end of his/her desk. You want a lender who is not going to push your file off on someone else in the office.

2. Did you contact them? Or did they contact you? Lenders who contact you and use high pressure tactics to get your business may be someone you want to avoid.

3. Does the Lender continually suggest you borrow more than you need? Don’t be bullied into borrowing more than you need, and especially more than you feel comfortable with.

4. Did you get through the whole process, and all of the sudden, the terms and rates are drastically changing when it’s time to sign? Don’t sign if you don’t feel comfortable. There are always other lenders that you can consult with.

5. Does the Lender tell you to fill out information on your application that you know is incorrect, or does the lender fill it out for you? Never fill out, or let anyone else fill out, false information on your application.

6. Does the Lender have a good reputation among other people in the field, such as appraisers, real estate agents & brokers? If the Lender is competent and has great communication with agents in the past, they will remember. A competent Lender with great communication skills is always a great place to start. Communication is key, especially when it comes down to closing day. A Lender who will not return calls at critical moments could cost you the deal.

Make sure the Lender’s financial institution has a lending program that suits your needs.  Always listen to your gut.



**This communication is provided to you for informational purposes only. Keffer Realty is not a mortgage lender. You should contact your lender directly to learn more about mortgage products and your eligibility for such products.

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Alan M. Keffer | Broker | 409 Slate Street | Chesapeake, Virginia | 23322
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