How to Choose the Right Mortgage Lender

couple getting advice from a professional

Whether you're a first-time home buyer, downsizing, trading up, or refinancing your current mortgage, you will have plenty of questions on finding the right lender. Choosing to refinance your home or enter into a new mortgage is not always an easy process, but having the support of a good lender will make the process easier.

Here are some deciding factors for choosing the perfect lender for your situation:

How Does the Company's Mortgage Loan Process Work?

Knowing how different companies manage each step of the process will help you make your decision. We Florida Financial member Gina L. recently refinanced her condo and recommends that buyers, “always ask questions, including (questions about) the steps and the process to make it easier.” Different institutions can have different processes - it’s important to ask your lender questions about the entire process. Asking questions and being informed will make the journey to homeownership easier!

Ask Friends and Family for Advice

It is a good idea to ask friends and family members about the providers they have used in the past and what their experiences were like. Your real estate agent also might be able to recommend a good lender. Experienced agents - especially ones familiar with the area - should be able to refer you to someone they have worked with in the past.

Research the Lender's Reputation

No matter how you hear about a company, it is important to do a background check and read testimonials about other members’ experiences. Learning as much as you can about your lender beforehand can save you stress in the long run. “I would recommend (buyers) to do their homework and make a list of important questions for the loan processors,” says Gina.

If you are ready to buy your first home or considering refinancing your existing mortgage, contact We Florida Financial to see how we can help you every step of the way.

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