Finding the “Right” Loan Professional

You are ready to get a loan, but where do you start?  The first step is finding the “right” Loan Professional that meets your needs.  You may think you want to Refinance your home and take out $25,000, but that might not be the right thing.  You may think it is time to buy your first home, but how much should you spend?  You need more than just a loan calculator to do the job; you need to interview Loan Professionals.

We all know someone that jumped into the mortgage industry, right or wrong, they did it.  They might be good people and just have no clue how to really advise someone on a mortgage.  Or even scarier, they have no clue and they are unethical!  If you are lucky, you will find someone that got into the loan business that is a true professional and is looking out for your best interest.

So how do you find the right company to work with?  Well, that is a trick question, it is not the company that you work with it is the individual.  Your mortgage is your largest debt you may ever have; don’t you think you should deal with an individual that treats it as serious as it is?  Do you want to work with someone that is just looking to make a buck, or someone that is going to advise you on what is best for you?

You want to find the individual that best meets your needs.  Are you buying your First Home, Retirement Home, looking to Refinance, or how about a Reverse Mortgage?  You want to make sure they are intelligent and well versed in the specific type of loan you are looking for.  Are they selling you or advising you?  What are their motives?  What have they done to further their education, do they have continued education?  Do they help you with understand all aspects of your options or just point you to the loan calculators?

It is important to get to know the individual that you are working with, not necessarily the company they are associated with.  There are thousands of mortgage companies that claim they have the best service, lowest rates, and the most experience… but doesn’t everyone say that?  Don’t you think everyone in the industry should have great rates, great service, and experience? 

Over the past several years there were people in the mortgage industry making tons of money and getting a lot of publicity, does that make them a true professional?  Just because they have helped someone you know in the past does not make them an expert.  The loan industry has changed, you need someone that is keeping up with the changes and someone that can help advise and navigate you through these uncertain times.

The Loan Professional that is right for you is not always the person that lives and works in your Community or even you’re State.  With the technology we all have today and even the simple things like a phone and overnight courier services the right Loan Professional in California can easily and just as efficiently handle your loan needs in Arizona or New York.

I will often write that it is time to expect more, stop compromising on who and what you do.  You should expect the best in all that you do.  It is not enough to just talk to a couple Mortgage Professionals; you need to first know the Professionals you are working with.  Are they really Professionals or just trying to make a buck? 

Bottom line, not all mortgage professionals are created equal.  It is far too easy to get into the loan industry, and because people can hide behind companies and big names it is tough to know who you are really dealing with!