Home Buying in 27858>Question Details

A, Home Buyer in Greenville, NC

where do I begin to find a lender?

Asked by A, Greenville, NC Sat Jul 2, 2011

Help the community by answering this question:


Great question! In my opinon, it all depends on your situation. Often, the best place to get information is to start with people you know. Have any friends, family, or neighbors recently purchased a home? Which loan officer did they use? How was the buyer's level of satisfaction? I believe it's important to really connect with the loan officer who will be guiding you through the homebuying process.

If not, then start with the local lenders in your community. Ask about special loan programs, interest rates, and lender fees. These items can vary greatly, depending on the financial institution. If you are a member of a credit union, talk with loan officers there. Credit unions often have good programs for their members.

Also, you might consider the loan department where you do your banking. They definitely want your business, and they might offer special programs since you are their customer.

Another idea is to speak with businesses that specialize in mortgage loans. Often, they will have websites with interest rates and other information. Mortgage brokers are another great resource. The mortgage broker may represent a number of lenders with different programs, one of which might work for you. And, of course, if you are working with a realtor, ask for several loan officer contacts to interview.

Finally, if you have access to the internet, search on line for mortgage rates, local lenders, and special loan programs.

Good luck!
1 vote Thank Flag Link Thu Jul 7, 2011
A -

If you don't have a lender, my advice would be to go under "Find a Pro" and search for a mortgage lender in your area.
If you are working with a real estate agent, they will have great referral's of qualified lender's they've worked with.
Best of luck!
1 vote Thank Flag Link Sat Jul 2, 2011
That is a big question and very common. If you are a state employee often the SECu is a great starting point. It is also wise to compare a few before making a selection. Each mmortgage company or bank has different programs to offer and different lender sources to offer from. If you are in Pitt County Id be happy to take your call and chat with your further about your home search. Best wishes, Michele 252 342 7066
0 votes Thank Flag Link Thu Nov 15, 2012
The lender is a key element to any Real Estate transaction! A good place to start is to ask your Realtor. Most agents have a few select Lenders they regularly recommend because they have worked through purchases together before and they have seen the lender in action! You should expect your lender to explain all aspects of the process thoroughly and keep you and your agent informed with regular progress updates. The role of the Lender and the Realtor is to work to make the transaction as smooth and stress free as possible for the Buyer. Hope this helps!
0 votes Thank Flag Link Tue Apr 3, 2012
What a great question to ask when your looking for a home. Finding a lender is very important and a great first step towards buying a home. There are many wonderful lenders in Greenville and I would be happy to recommend a couple to you to see which one fits the program you are looking for.

Please let me know if I can help in anyway.

Best wishes and Happy 4th of July!

Amy Klingensmith
0 votes Thank Flag Link Sun Jul 3, 2011
Call Pete at 336-407-9518.
0 votes Thank Flag Link Sat Jul 2, 2011
Finding a reputable lender in these times isn't as easy as opening the Yellow Pages or a Google search. You should consider a well know, well established lender before you begin a loan application process. At Stormer Properties we have developed working relationships with a few mortgage originators in Greenville, NC. If you would like for us to send you a recommendation, please feel free to contact our office. We look forward to helping you purhased your next home!
0 votes Thank Flag Link Sat Jul 2, 2011
Hi "A",

Kathy gave a great answer - there is a "Find a Pro" feature here where you can search for real estate agents, home inspectors, appraisers, and even mortgage loan officers.

Explore at least 3 options, and preferably at least 1 mortgage broker, 1 mortgage loan officer who works for a bank, and also one that would work at a smaller direct mortgage lender (not a broker, and not a bank, just a mortgage lender who arranges loans and sells them afterwards - usually to the banks)... it wouldn't be a bad idea if you had the time to interview up to 6. That way you can get a feel for how each does business, because not every mortgage broker is the same as another mortgage broker, etc.

You'll want to ask what the pre-approval process entails and how long it takes. Will the underwriter who will be allowing your loan to close be the person reviewing your file as part of that process? Will it just be the loan officer reviewing your information? Will they even ask you for documentation?

You'll also want to ask what types of programs they offer, and once your documentation has been thoroughly examined you'd want to get what options would then apply to you, as well as ask what your loan officer thinks would be the best loan program for your situation.

You'll want to ask what type of fees & costs you could expect to incur along the way (credit report, earnest money deposit, home inspection, appraisal fee, closing costs, etc.), how much those costs are estimated to be, and when they are expected to be paid (at the time the service is performed, at closing, etc).

You'll also want to ask what type of loan terms can they offer you if you were to lock in your interest rate today.

You should also ask when & how they will be available - are you someone who likes to discuss things after the normal work hours on the phone? In person on a Saturday? Through email?

There are more variables to think of, some will be important to you and others will not, however I truly believe that you will have a feeling inside of you of pure comfort when you have found the loan officer who will be the perfect fit. You will leave the conversation having a full understanding of the road ahead and what is expected of you, as well as you'll feel the loan officer has left no stone unturned when going over your situation.
0 votes Thank Flag Link Sat Jul 2, 2011
As I work with my clients I like to gain knowlege about their needs this help in choosing the right lender for your client! Lenders programs change from month to month and its always best to talk to at least two lenders to compare programs. You might meet the needs for some special bank program with one lender and not another. Always let your realtor help you with this decision and point you to the right lenders in the area that best suited for your current needs. For more buyer info please visit me at http://www.JesseAllenHomes.com
0 votes Thank Flag Link Sat Jul 2, 2011
My recommendation is to work with a realtor to find a lender. Realtors work with lenders every day, all day and they know which ones are reliable, cooperative and offer the best terms, conditions and interest rates for their clients.
0 votes Thank Flag Link Sat Jul 2, 2011
A fulltime agent will be able to give you he names of good mortgage lenders in your area . Be wary of online companies that offer low "teaser" rates . If you don't know any Realtors, I suggest RE/MAX , there is a good reason that we sell more real estate than any other company.
0 votes Thank Flag Link Sat Jul 2, 2011
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