Finding the best mortgage lender to obtain a loan from is not necessarily difficult. However, it can be tricky simply because of the sheer number of lenders available today.
Here are some tips on how to find the right Utah mortgage lender, some of whom have websites you can look at, like that of altiusmortgage.com.
Hiring a Broker vs. Going the DIY Route
One crucial decision you have to make is whether to obtain a loan DIY-style or to work with a mortgage broker. Although a reputable agent can help you shop for the best loan for you from among a pool of lenders, they may not have access to special deals that may not be easily available.
Likewise, a broker has no obligation to land you a deal that will best suit your needs. Instead, there are brokers whose primary motivation would be to match you with a loan that will yield the best profit for them.
Before signing up with an agent, find time to talk to a few of their recent clients.
Find out if the loan they got was what the broker promised, or if the costs met their expectations, and if the interest rate was locked in without delay, and if there was timely and smooth closing.
Consult Your Real Estate Agent
Your agent may have a few lenders he can recommend. While there are companies that have affiliates or in-house mortgage lending operations, good real estate agents will not limit their recommendations to their in-house mortgage lenders.
Since real estate agents send customers their way in both slow and boom times, a smart loan officer takes good care of all clients sent their way. Thus, expect your agent to have at least two or three lenders with whom their referred clients have had satisfactory experiences with.
However, it is still a good idea to still shop around for lenders and not limit yourself to the agent’s referrals.
Keep these tips in mind when in search for a good mortgage lender and deciding on whether going through the process with a mortgage broker or not.