Should I choose the lender with the lowest interest rate and costs for the loan program I chose?
There are two additional and important things to consider, in addition to interest rate and the closing cost for the program, when choosing one lender over another one:
- Quality of Service – Especially for first-time homebuyers who will have many questions about the whole financing process and available loan options. Finding a lender with outstanding service skills that you can trust and who will comfortably guide you every step of the way is VERY important. So ask questions, even before you fill-out an application. Having a mortgage banker who is on your side and working just for you is VERY important!
- Cost of Services – It’s good to ask potential lenders upfront what they charge for their services and any fees that are not regulated and thus will be the same regardless of choice in lender. ALL lenders should be able to give you facts from their peronal knowledge and experience. They should be able to get you through the financing process in a very pleasant and uneventful way so that you feel confident at closing that you made a good decision by choosing them!
At Financial One it is our mission for you to leave your closing with us having earned your trust and business for life!