What factors should I consider when comparing mortgage lenders?

Shop for a loan officer, not a rate.. Once you find someone you feel you can trust, then you'll be confident that they will get you the best rate possible.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Just 10% of the success of your transaction is the company you choose. 90% is the loan officer you choose. Stick with a licensed local mortgage broker for the best deals, and overall experience. Avoid banks in general, and big banks in particular. Avoid the big Internet lender. If you choose the right loan officer, you don't need to worry about a great quote. www.JoeMetzler.com

Interview 3 Loan Officers. You should get an impression from each that will make you feel whether you want to work with them or not. If one takes 24 hours to get back with you on a question, that would not be your first choice. Also, the Big Banks are just application clerks, they will not be with you throughout the whole process.

The two most important factors are the skill set of the individual Loan Originator and the reputation of the firm they work for. You can help determine the skill set of the Loan Originator by checking them out at the National Mortgage Licensing System at www.NMLSConsumerAccess.org. You want to make sure that they have a long history in the Mortgage Industry. Another attribute to look for would be their certifications. As an example, I Loan Originator that holds a Certified Mortgage Consultant certification with the National Association of Mortgage Professionals, has at least fifteen years of service in the Mortgage Industry and has passed a minimum of FIVE tests that require an in depth knowledge of Mortgage Lending. Additionally, Members adhere to a stringent code of ethics which helps to protect the consumer. Finally, you want to make sure that the firm has a strong reputation of delivering timely accurate and fairly priced results. Don't be afraid to ask for references. Those of us that do our jobs correctly have many happy clients willing to attest to our ability to deliver. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Bert Holds the Certified Mortgage Consultant designation from the National Association of Mortgage Professionals. Certifications can be verified at www.NAMB.org. Bert is licensed in California and Arizona. ~ www.LoansA2z.com 888-889-9950

Every consumer shops for mortgages and they should. But this is the critical distinction: you should be shopping for the best mortgage advisor. If you have that, you'll get the best rate. Here's what happens when shoppers focused only on rate get quoted by a good loan agent: Loan agent quotes a rate only after they've analyzed the client's entire financial profile and analyzed their home's value and condition--also known as pre-approving them. The client will either tire of the pre-approval analytics or be unhappy with the rate and go somewhere else. Then 80% of those cases come back to that loan agent because the competing rate quote was revealed to be incorrect when the other lender actually completed the client's profile, or the home's value/condition made the loan ineligible. Mortgages are extremely competitive so rates and fees are generally the same with most (established, credible) lending firms. What's not the same lender to lender is the loan agent's ability to: (1) advise properly, (2) analyze borrower and property profiles, and (3) close with no surprises. So shop to find the lender and loan agent you feel most confident can perform on these three things. Then work with that loan agent to pick a rate target you can't or won't go above, and give them a standing order to lock when they see it. These guidelines are for refinancers. For homebuyers, you can't lock a rate until you're in contract to buy a home, but once you're in contract, the same approach applies.Rate TargetingTheir are two reasons for the pre-approval and rate targeting tactics discussed above: (1) A rate quote that flies through the air means nothing. If a loan agent doesn't issue you written terms after obtaining a full profile on you and your home, then you haven't received a quote you can count on. (2) Rate lows are here and gone in minutes each trading day as mortgage bonds rise and fall on economic and technical trading signals. So if you don't first get pre-approved then set a rate target with a standing lock order, it's nearly impossible to hit the lows AND close with no surprises. Your loan agent also must be able to brief you daily or weekly on the market outlook, so if you're not sensing market competence from your agent, then keep shopping. A loan agent must have a strong read on what's impacting the rate market ups and downs to deliver you the best terms. Respectfully,Victor Navarro Mortgage Banker Crossline Capital Inc(949) 380-6836 Phone(714) 900-9091 Cell(949) 288-6268 Faxvnavarro@crosslinecapital.com

A knowledgeable loan officer who understands what you want to do, and offers you options that may best fit your needs.

In this environment it is best to work with a broker as we have many options and lenders to select from to match you to the best situation. We are a non-profit mortgage company that does not charge any origination fees. If you ever need any advice I am here to help. I have been in the mortgage business for over 20 years and understand it on many levels. P: 888-320-7888 - www.MortgagesforAmerica.org - Ken@MortgagesforAmerica.org - Ken Burrows

a great mortgage company can have less then average loan officers - look for the great loan officers - they usually work at great banks. www.HOMEMORTGAGEXPERT.com Peter Savino

Experienced loan officer with the lenders that you are shopping with, check on years in the business etc., Once you have narrowed down 2 - 3 lenders based on loan oficer knowledge /. experience, you need to concentrate on LOWEST rate with LOWEST fees.

Speak to at least 2 possibly 3 loan officers, make sure you have a knowledgeable one. Go with your gut. Rate is important, but APR is just as important.Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

When shopping for a loan you need to compare the rate and the amount of closing costs you will pay. Some lender's win you with a low rate but maybe charging you extra closing costs to get you that rate. Paying points up front is not always a bad thing, but the lender should be able to ell you a time frame of how long it will take to make up those extra closing costs to make the lower rate worth it. In some cases it may be actually better to pay a slightly higher rate if your closing costs are lower. It's also importent to some people if the lender will keep the servicing of your loan. Here at Johnson Bank we will continue to service your loan after closing. Your payment and escrow accounts will always stay at the same place. If you have anymore questions please feel free to contact me at yjenkins@johnsonbank.com. Yvette Jenkins, Johnson Bank-family owned NMLS ID 455918

You should take into consideration both the rate and terms AND the loan officer/lender. It is important to find a loan officer that you feel comfortable working with. Speak to several different lenders and ask any questions that you have to get a feel for which one you would feel the most comfortable working with. A lender that takes the time to explain things and listens to you is important, so that you get what you want in the end. You will also want to take into consideration turn times and find a lender that can process your loan at a reasonable rate. Speaking with local lenders is a great way to start. We are licensed throughout the entire state a California and work with borrowers all over the state. Feel free to check out our website and give us a call if you would like to chat - www.prospectrefinance.com

Hi I am Licensed here in Irvine,CA and I can help you with all your mortgage needs if you need to purchase or refinance we have a great team in my office. We offer aggressive rates and great service. If you have any questions contact me @ 201-673-7205