You are right, everyone wants your business! it's like going to the city animal shelter and all the doggies are barking for your attention. The same has been said of real estate professionals. It's hard not to take the all home, but, only one per customer.
There are several elements you MUST consider.
#1. Your market segment. For low cap and high cap mortgages there are special challenges that your agent must anticipate and be prepared to negate. Working with a lender your agent trusts who has a history of closing on time and under budget is essential with these real estate purchases. Very often, the lenders you agent may recommend will have differing requirements, such as, for instance, portfolio loans, that will prove more beneficial to you. Your situation will dictate the best option. Similar complexities exist with the low cap market where the specific real estate will determine the best lender.
#2. Competition in the real estate market. Some lenders may have a history of creating confrontation that will compel the seller to say, "Next." In this conforming loan environment, the lender can and frequently does place obstacles to success. If a sale does not occur, you want it to be your choice, not a third parties.
#3. Communication and execution. The lender with whom you work needs to provide you decision making commitments well before closing. Most will present the borrower a work sheet and offer the GFE two days before closing and leave the buyer and seller in a real difficult situation. Again, your agent will know who can be relied on and who should be avoided at all costs, such as Never Ever Bank of Clearwater FL.
Finally, I know people don't like to be so reliant on a single source, such as their real estate consultant, so here is another option. Choose a lender who has a history of investing in the local economy through small business loans and home mortgages. You will find these lenders are NOT, Bank of America, Chase, Wells Fargo, or Citi bank, who are all "F" graded lenders.
Enter your zip code or city and identify an "A" or "B" graded local lender.
Don't overlook Lawanda's advise and check out those credit unions. They are, hands down, the lowest cost lenders and will not appear on the http://www.BankingGrades.com
In the end, the right lender for you is the one who can help you achieve your goals on time, on budget and with minimal stress.......if those are important to you.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL