Home Buying in Austin>Question Details

chandu, Home Buyer in Austin, TX

We are new to Austin and also first time home buyer. Any suggestions on how to choose lender?

Asked by chandu, Austin, TX Wed May 7, 2014

Help the community by answering this question:


I would stay away from big box banks as they all have a reputation for not closing on time. Internet lenders have the same reputation. Find a few local mortgage brokers to interview then pick the one you feel most comfortable with.
1 vote Thank Flag Link Mon Mar 30, 2015
Get thee to a CREDIT UNION!!!
1 vote Thank Flag Link Sat Mar 28, 2015
From my past experiences, and I have many, I would stay away from the major banks and go with a credit union. A great one here in the Austin area is UFCU. They have always worked with me on any type of loan I have ever had with them, including a home mortgage, cars, personal lines of credit, etc. You can't go wrong with them!
0 votes Thank Flag Link Sun Mar 29, 2015
I would suggest calling 3-4 lenders and have a brief conversation with each. Communication is key! Choose the one that you feel most comfortable with. I have a fantastic guy who always returns calls quickly and is patient with my first time buyers....no question is unreasonable. You're definitely starting off correctly by seeing if you qualify. Marilyn Glendenning, Mosaic Austin Properties 512 565 0911
0 votes Thank Flag Link Fri Mar 27, 2015
I work with an excellent hard working mortgage broker. My last sales was with first time home buyers. She is good. Call if i can help. Her name is lynn morenz
0 votes Thank Flag Link Fri Mar 27, 2015
The #1 lender in Austin, according to the Austin Business Journal, for the last 3 years, is The Lehman Team. See the link below. They are excellent!
Web Reference: https://www.maxleaman.com/
0 votes Thank Flag Link Fri Feb 27, 2015
Talk to your agent. I have a great lender I can refer you to. Please contact me if you're still looking :)
0 votes Thank Flag Link Thu Feb 26, 2015
Talk to your agent and your bank as well. Good luck!
0 votes Thank Flag Link Fri Jan 9, 2015
Your real estate agent will have a lender that they will recommend
0 votes Thank Flag Link Tue Dec 30, 2014
Hi, I know you posted this a while ago but if you haven't already I would highly suggest going with a Lender that his recommended by your Realtor. It really helps make the whole process go smoothly. Realtors usually have 3 or 4 Lenders that they work with so you still have options.

Call me if you need more information. I am always happy to help.

Lisa Little
0 votes Thank Flag Link Wed Jun 4, 2014
Great question! I prefer lenders with local, in-house underwriting. This usually means the broker and processor are both in the same building. I recommend United Leading here in Austin because they meet that criteria. In addition, credit unions are great, but not always as creative or flexible. I try to avoid the big guys: Bank of America, Chase, Wells Fargo. If you've got a good lender, you should have their direct # and be in regular email/phone conversation. It can be a stressful 30 day process and having a strong communicator on your side is key. Good luck!
0 votes Thank Flag Link Mon May 12, 2014
You can check out several Loan Officers on this site. Check out their recommendations and see what their past client's experience was like. Please feel free to contact me if you have any questions. BTW, I am here in Texas.

Best of Luck,

George Raymondo
American Financial Network, Inc
Web Reference: http://www.AFN-Loans.com
0 votes Thank Flag Link Wed May 7, 2014

I would be happy to answer any questions you have on the lending process. I am a Realtor and mortgage broker. As a mortgage broker I work directly with many different lenders at the wholesale level. This allows me to help my clients achieve the best financing terms with the lowest fees and best pricing. It also allows me to get more difficult loans done depending on your situation because I have more options than any one single lender. Lastly as I mentioned I work at the wholesale level and this allows me to offer the best terms at the lowest possible costs.

If you would like to talk or have nay questions please feel free to call or email me anytime to discuss.

Don Groff | REALTORĀ® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
0 votes Thank Flag Link Wed May 7, 2014
Your Realtor has experience (and horror stories) about the local lending institutions. You can take your Agent's advice and then compare rates. In my area, some lenders can close on time, and other can't for various reasons. This effects your ability to negotiate a purchase because close of escrow is important to some home sellers.
0 votes Thank Flag Link Wed May 7, 2014
A lender is as important as an agent. Many people will interview several agents and then just go to the bank to ask for a loan. Most agents can refer a Mortgage broker that they have worked with and have confidence in. Every transaction is different and many times the person that saves it from disaster is a great Mortgage Broker. You should also consider the Broker's area of expertise. VA loans, Foreclosures, and Short Sales all require someone who can process the loan correctly. Another important thing is to ask if the Broker has the ability to contact the underwriter. A larger bank typically takes longer because the underwriter is in a central office being overworked trying to approve loans. Many transactions require an open line of communication between your Mortgage Broker and the Underwriter.
0 votes Thank Flag Link Wed May 7, 2014
Call a local realtor and ask to be referred. I do not recommend going to the big banks, Wells Fargo, Chase, Bank of America and the like. Instead I prefer to work with smaller, local firms, banks that specialize in writing mortgages. A realtor will know which ones they have had a good experience with and which ones have not provided such a wonderful experience. Follow their advice.
0 votes Thank Flag Link Wed May 7, 2014
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer