There are lots of loan officers out there. Lots of them. So if you have so many to choose from, how do you identify the best ones? Not all of them will be top-rated. Some are simply competent, some are good, and some are excellent. How can you make sure you get one that is a great loan officer?
One way is to pick loan officers referred to you by your real estate agent. Mortgage loan officers know that building relationships with real estate agents is important for their business and they are motivated to excel.
"A few important criteria I expect from loan officers that I recommend, is trust, consistent communication, and efficiency. I trust that my loan officers will close my buyers' home purchases on time...every time (unless a situation occurs outside of the loan officer's control). I also appreciate when I am told upfront that a potential buyer may have a few bumps in the road and is not quite yet in a position to buy. Great loan officers also work with and advise my buyers on what they need to do to improve their financial situation to secure a loan. Loan officers I refer to you have earned my trust by making sure my buyers make it across the finish line."
Jean Scott, Keller Williams Realty
When speaking to potential loan officers, another item to consider is how long an individual has been in the mortgage business. The thing about the mortgage business is that if you're not very good at it, eventually you'll have to find some other type of work. This isn't to say that newer loan officers aren't any good, it's just that they've yet to prove their value over time.
You may also want to check with family and friends for referrals. If their recommendations get great reviews, it's also a good place to start.
Finally, the loan officer who touts the absolute best rates may not be the best pick if the loan officer can't get the deal to the closing table. Low rates are important but if the loan officer can't close the loan, the rate quote is meaningless. Interest rates are, of course a factor, but not the only one to consider when searching for a loan officer. The experienced loan officer will know what to do if a deal is about to go sideways. Experience does matter.
Mobile: 919-675-5366
E-Mail: Jean.Scott@kw.com
Two Locations to Better Serve You:
Raleigh: 4700 Homewood Ct., Suite 200, Raleigh, NC 27609
Wake Forest: 1744 Heritage Center Dr., Suite 201, Wake Forest, NC 27587
