Here’s our brief take on “What to Look for in Mortgage Lender offering Services in Denver“!
You’re in the market for a mortgage and wonder which mortgage lender in Denver is the best to use. How do you decide?
Fortunately, it’s an easy decision when you know what to look for. Here’s what to consider.
What Loans do they Offer?
It doesn’t make sense to work with a lender that doesn’t offer the loan program you need. Think about your qualifying factors and the purpose of your loan.
- Are you buying or refinancing?
- Do you need a loan for ‘bad credit’?
- Are you trying to tap into your home’s equity and take cash out?
- Do you need a no down payment purchase loan?
The answers to these questions will help you narrow down your options when looking for a mortgage lender.
Do they Offer Good Customer Service?
There’s more to a mortgage loan than the interest rate and closing costs. You’ll work with the mortgage company each month to make your payments, ensure your funds are allocated correctly if you make extra payments, and address any problems.
Working with a mortgage company that offers less than optimal customer service can be not only frustrating but may even cost you money. Whether you have financial issues and need a payment arrangement or you want help finding ways to pay your mortgage down faster, a mortgage company that isn’t responsive or helpful could hurt your financial goals.
Are Rates Negotiable?
When you shop for the right mortgage lender in Denver, inquire about their ability to negotiate rates. Some lenders work with borrowers, helping them get the most affordable interest rates possible today. Others only offer the rates they post and that’s it – there’s no room for discussion.
Try to find a lender that will let you negotiate your rates, especially if you have exceptional qualifying factors. For example, if your credit score far exceeds the minimum score required or you have 6 to 12 months of mortgage payments on hand, you have the upper hand when negotiating your interest rate. The right lender will work with you on it.
What are the Fees?
Finally, look at the fees. No two lenders charge the same closing costs. Look closely at the itemized costs and any bundled costs, such as origination fees.
Here are the common fees to compare:
- Origination fees
- Discount points
- Processing fees
- Underwriting fees
- Document fees
- Closing fees
- Title fees
- Appraisal fees
The right mortgage lender in Denver for you crosses everything off your list. What is most important? If it’s the lowest rate possible, then the right lender will negotiate the lowest rate.
If you prefer the lowest closing costs or prioritize customer service above all else. Since it’s such a personal decision, each borrower will have a different lender that’s right for them.
I’d be happy to help you see how I can help you secure the most affordable loan with the best terms. I work closely with my borrowers, getting to know their situation and understanding their financial goals to match them with the loan that is just right for them.