Whether you are a first time buyer or a home buying veteran, picking the right mortgage lender isn’t always easy. It is important to find lender who can help you secure a loan to buy a West Knoxville home for sale, answer your questions throughout the process, and get you closed on time. Here area few tips for picking a lender and why it matters when buying a West Knoxville home for sale.
Not All Lenders Are Created Equal
One thing many buyers forget when picking a lender is that not all lenders are one created equal. You may love your local bank or credit union, but that doesn’t necessarily mean they’re the best person to do your mortgage. You wouldn’t go to your family physician for heart surgery, you’d go to a heart surgeon. The same goes for picking a lender to help you buy a West Knoxville home for sale. Pick someone who specializes in the type of mortgage you plan to use. Are you planning to do a VA loan or USDA loan? Be sure to do your homework and see who in the area specializes in that type of loan and has a proven record of getting it done.
Ask The Questions Most People Forget To Ask
If you’re like most West Knoxville buyers, you probably will only go through the mortgage process a few times in your life. A majority of buyers will ask the obvious questions about how much house they can afford, how much their monthly payment will be, among other things. It is important to ask if the lender has a proven track record of closing on time and if for some reason an issue arises during the process what ways the lender has of getting the process resolved. While this may not seem important at the time you’re applying for a loan, come closing time, it will matter a great deal. Not every lender closes on time, so be sure to pick one who does.
When buying a West Knoxville home for sale, it can be helpful to be dealing with a lender who is local. It is helpful to have a loan officer in town that you can actually sit down with and reach if problem arises. In addition, in can be even more helpful if a majority or all of the loan processing happens locally. It is much easier to handle issues if you’re dealing with lender nearby, instead of someone 7 states away and in a different time zone.
Get Professional Opinion
While it is ultimately your decision who you pick as your loan officer, it can be helpful to get the opinion of someone in the business. Consider asking your realtor for a recommendation or ask their opinion on who you’ve chosen. Realtors are in the business of buying and selling houses day in and day out, and in that time they do have an idea of who is a good lender and who isn’t. In the end, it is your choice who you use, but it can be help to have the opinion of someone in the business.
Are you looking to buy a West Knoxville home for sale? If so, please let us know if there is anyway we can assist you with your home search. You can contact Rick at 865-696-9002 or via email at [email protected]. You can contact Kati at 865-392-5880 or via email at [email protected]. Also, be sure to check out our West Knoxville Home Search Page to see what homes are for sale in the Knoxville area.