How to Find a Good Lender
- 1). Ask your family and friends. Family and friends who own homes obviously had to go through the process of acquiring a mortgage. Ask them about their lender's pros and cons and how much work and/or effort they had to commit to the process.
- 2). Ask your real estate agent for referrals. Real estate agents are paid by commission for the sale of a home or property. Because they rely on smooth transactions for their income, they are a particularly excellent source for finding a good lender. Moreover, real estate agents are not allowed to take referral monies from lenders, so there is no conflict of interest.
- 3). Look up the lender's rating with the Better Business Bureau. The Better Business Bureau and JD Power & Associates have rankings for most mortgage lenders. In addition, your state regulates mortgage providers, servicers, and brokers. Most will have information on the lenders you have identified as a possible match.
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