Buying a house is an exciting time. There is so much potential brought on by the new surroundings, amenities, and memories. On the other side of the equation, refinancing your mortgage to a lower rate, to a different term, or to access your home’s equity in cash also provides new opportunities. Whether you are buying or refinancing, the most important decision you can make is selecting the best mortgage lender for your needs. But how do you know which one to pick?

Read Reviews of Mortgage Loan Officers

Today there is more real-time information available than ever before. Customers' ability to leave reviews on search platforms allows you to get a glimpse into the experience of working with a mortgage lender, and even a specific loan officer. Not only are online reviews and ratings a great resource, referrals from friends and family can provide a great insight into what you can expect from working with a certain company or person.

Consider More than Advertised Interest Rates

Its common to come across ads for companies that boast that they have the lowest rates in the market, however, it is also important to review the fees that the lender is going to charge. Sometimes the lender with the most competitive rate may charge higher fees, this is why it is important to review the APR (annual percentage rate) on your loan estimate. The APR provides a more holistic view of the total mortgage cost on an annual basis. Also depending on your situation, you may not have access to the best rate. There are several factors that could affect your interest rate: credit score, amount of money you borrow, down payment, and type of loan to name a few.  Finding the right lender and loan officer can make all the difference in streamlining this process and determining the best mortgage product for you.

Find Out About a Lender’s Communication Options

There are more ways to communicate than ever before. Apps, texts, email, and an old-fashioned phone call should all be at your disposal. Your lender should be able to share information and keep you updated based on your preference. Additionally, you should be able to reach out with any questions through your preferred method and on your schedule. Your lender’s communication capability is pertinent to a smooth, successful transaction.

For over 90 years, the expert mortgage officers and staff at Standard Mortgage (NMLS#: 44912) have been helping homeowners purchase and refinance with the highest level of service