Kate Speigle, Home Buyer in Fort Lauderdale, FL

Everyone seems to have an opinion, but how do I decide which lender is right for me?

Asked by Kate Speigle, Fort Lauderdale, FL Thu Mar 7, 2013

Help the community by answering this question:


Great question! You want a lender that is going to show you all of your options and based onb your current situation, guide you towards the most appropriate loan product. Make sure they explain things clearly and openly.

0 votes Thank Flag Link Fri Mar 8, 2013
Hi Kate,

The opinions stated here are all valid. One more basic method would be to just proceed according to how you feel. If your lender makes you feel comfortable and you feel like you can trust him or her then start working with them. Use your 6th sense; one always knows when someone is sincere or not ;)

I can also make a few recommendations, just give me a call.

Jannicha A. Forte
Riverview Realty, REALTORS®
2715 E. Oakland Park Blvd. Suite 101
Ft. Lauderdale, FL 33306
Cell: 954-214-7170
Fax: 954-565-5167
E-mail: jannicha@riverviewsells.com
Website: http://www.jannichafindshomes.com/
1 vote Thank Flag Link Sat Mar 9, 2013
Hello Kate ,
I'm actually a realtor in Las Vegas, but I felt compelled to answer your question, because it sounds like you really need some advice. First of all if you're looking to purchase property, you need to find a trustworthy realtor. One because their services are free to you, two because if you talk to any of any of your friends, I'm sure that at some of them have purchased or sold a home recently and if they had a good experience with their realtor, you're likely to have the same experience. Understand that realtors build their business on customer service and therefore referrals, so if someone you know had a good experience, you're likely to have that same experience. Then, please understand that the job of a realtor is to take you through the buying or selling process as smoothly as possible. It is not your job to know everything about buying or selling a home, I'm sure that you have a job that you try to be the best at, and realtors do the same. So, my advice is, find a realtor in your area that has been recommended by someone you know and let them guide you through the process. Any good realtor will be able to guide you through the whole process and look out for your best interest and get you the best of everything, while making sure you're fully protected. You don't have to figure out everything on your own!
0 votes Thank Flag Link Sat Sep 21, 2013
Ask a real estate agent whom he or she depends on for home loans. Try this mortgage broker: Preston Ware 561-329-0075 or http://www.PrestonWare.com

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
0 votes Thank Flag Link Wed Mar 27, 2013
One more thing article #8 inlcudes a list of links to most of the states sites for assistance and advice for home buyers and be sure to gather info on the MCC tax credit for first time home buyers. Best tax credit yet
0 votes Thank Flag Link Tue Mar 26, 2013
Hi Kate
Critical issue and good quesiton. I have learned that some of the least ethical people in real estate and lending are really "nice" people. So through the years I developed a process for people buying homes than taught that process to over 25,000 people in my seminars and it works.
First gather all the information you can find about loan types and assistance and grants if you are a first time home buyer.(Someone who has not owned their primary residence for three years).
After you gather all the information its time to interview loan officers. Yu will have a series of important questions to ask the loan officer that yu know the correct answers for so they reveal to you their ethic with their answers. This processs and a similar for selecting your real estate person are explained in a step by step process on Your-Road-Home.com. Consultation Interviewing Loan Officers is a good article to begin. If you read the articles in the numbered order the process is eaiser to learn. Trulia is also a good source of information. After you have gathered all your information you will find loan officers and agents in your area offering their services on Trulia. Good Source.
What you learn now will serve you on every real estate transaction you accomplish in your future.. Once you find the people you can trust all becomes easy. Best of Luck, Stephen
0 votes Thank Flag Link Tue Mar 26, 2013
Most people look to see what they have to spend to obtain a mortgage and what their payments will be. Call a few lenders you have heard of .
0 votes Thank Flag Link Sun Mar 10, 2013
Do you speak and understand lender--ese?
Do you speak and understand real estate-ese?

For most of the population, the response would be NO!
The truth is obscured in the fog of language misdirection.

Marc provided the best direction.
I know it sounds self-serving.
The reality is, real estate professionals can only stay in business if they meet and exceed your expectations. That means, all the affiliated services, such as lending, must perform at the same level to assure your full and complete satisfaction. To accomplish this an agent, who is not directed to steer you to a preferred lender (Wells Faorgo) must have a group of lenders who they know will deliver on time, on budget and without drama. Share with your agent your goals, time issues, limitations and greatest concerns, and they will know which of the group of lenders with whom they have successfully competed business, is the best match for you.

If you get the cart before the horse you may find a mortgage broker who compels the agent to pay the brokers fees before making and introduction. Not a good situation for MANY reasons.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL

Scotsdale Bluffs, Dunedin Home Tour
0 votes Thank Flag Link Fri Mar 8, 2013
I am surprised:
9 answers and not one told you to use the GFE to compare loans.
The GFE, (good faith estimate) is Federally required, and shows the Interest Rate, the APR, and all the fees and charges on the loan.
With 2 or 3 GFE's, you can accurately compare the loans.
It will cost you about $50 each, for the Credit Check, but it is worth it.
(Some brokers or lenders will not charge this. Some will try to chage an Application Fee.)

Good luck and may God bless
0 votes Thank Flag Link Fri Mar 8, 2013
First start with a local and trusted lender, stay away from internet lenders. All lenders will have a similar interest rate, those who offer a below average rate often will charge higher closing costs, pick 2 lenders and compare, the key is service, you want to be able to have a real person to speak with anytime you may need. The best referals are from family, friends, co workers or your buyer agent who can let you know who is good and who may not be.
0 votes Thank Flag Link Fri Mar 8, 2013
Best rate, Best fees, past reputation (check bbb) and how comfortable do you feel. Are they recommended by somebody you know?
0 votes Thank Flag Link Fri Mar 8, 2013
Talk to several on the phone, ask general questions, present your situation and make notes on what they suggest...but don't let them run your credit yet. Narrow your list too 2 or 3 that you liked and tell them to sent you good faith estimates, this few will need to run your credit. Once you have the 3 documents in front of you it will be easy to see who gives you the best terms , and how much the loan will actually cost you. Then once you have the best 2...flip a coin. Was this answer helpful? If so please click on the "green thumbs up" or the "best answer".

Tony Vega
La Rosa Realty
0 votes Thank Flag Link Thu Mar 7, 2013
Hi Kate,

The answer is simple and takes a little work. Call and talk with a few lenders and compare not just rate and price but the individual.

Thank you,

Matt Tarka
Licensed Mortgage Professional
Serving All of Florida
888-246-9060 Toll Free
954-605-2450 Direct
954-343-8098 Fax

Clear Mortgage Lending, Inc
5200 North Federal Highway
Suite 2
Fort Lauderdale, FL 33308
0 votes Thank Flag Link Thu Mar 7, 2013
It depends on your financial circumstances. Lender have different requirements as per your credit score for instance, so if you have issues with your credit some lenders may not be willing to loan you any money while others would. My office works with many first time home buyers and we reccomend different lenders to different people based on their needs.
Feel free to call if you need further guidance: 954-673-1624.
0 votes Thank Flag Link Thu Mar 7, 2013
I don't know how you decide, Kate. Every lender who stays in business has people who think they're right for them. Personally, I look for people who I can communicate well with - who I understand, and don't leave me wondering. You may have other standards.

All the best,
0 votes Thank Flag Link Thu Mar 7, 2013
Well, my opinion is . . . . (slap!)
0 votes Thank Flag Link Thu Mar 7, 2013
Your credit score is based on your credit history. It is best to speak with your lender regarding that.

You should decide on a lender based on your trust in them, the fees they are charging you, and if you feel that they will work diligently to get your loan done in time to close. Also, if you are working with a Realtor, I suggest listening to their advice. Realtors work with many different lenders, and will usually recommend lenders who they have had good success with.

Your Realtor is an excellent source for lots of good information and recommendations. If you are working with a Realtor that you trust and have a good repore with, you are on the right track.

Best of luck!
Stefanie Cohen, PA, ABR, SFR
Prudential Florida Realty
0 votes Thank Flag Link Thu Mar 7, 2013
Also, what is a credit bureau score and how do lenders use them? I might ask again in a different conversation, but I might as welll try here right?
0 votes Thank Flag Link Thu Mar 7, 2013
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