Loan officers are a crucial element in each real estate transaction. Home buyers expect agents to be involved in every step of the process, including loan approval. Agents want to assure their clients are in good hands and that there will be no unexpected delays. According to NAR, 45% of first-time home buyers said the mortgage application and approval process was more difficult than expected. When agents partner up with a trusted lender, they’re more at ease that their client will close a deal feeling satisfied. We've created this list to help you find a trusted lender that will streamline your sales and increase your referall rate. Look for these attributes when partnering up with a lender.
Both Real Estate and lending are filled with uncertainties, meaning the best agents and loan officers are accountable. Your lender should be willing to invest time into your clients. Should be taking the time to explain what your clients can do to ensure their loan is approved.
A good lender will regularly update the client and agent on the status of the client’s loan approval process. Likewise, you should be communicating your lead’s mortgage requirements to your lender. Be certain you are both 100% committed to the business and to one another.
Be sure your lender has Mortgage Product Offerings that match your client base. Pick a mortgage provider who specializes in loan types your clientele Local lenders will know the market well.
Choose a lender with a proven track record, so you know your client is in good hands. Also, be sure that their track record can be backed up factually. Today’s consumers are self-educated, meaning they’ve likely researched mortgage options before your referral.
As for type of lender, an Inman and 1000Watt Study found 47% of agents prefer mortgage brokers, 31% prefer bank lenders, and 22% prefer non-bank lenders. Choose a lender whose working style and client base is similar to your own.
If you do not have a preferred lender to help you reach your goals, I can connect you with a local mortgage expert to get you pre-qualified.