Choosing a Mortgage Lender

Learn some common tips to compare mortgage lenders

Your home purchase will likely be one of the largest purchases you finance in your lifetime. Whether you are using a mortgage broker to find a mortgage lender or researching on your own, it is extremely important to thoroughly assess lender stability and trustworthiness before making a decision on which one you want to work with. The relationship you establish with your mortgage lender can last up to 30 years, so you want to be sure you are choosing one you can see yourself working with for years to come.

Research potential mortgage lenders thoroughly

It is critical to do your research and determine whether or not your mortgage lender will be able to provide you with the level of service you need for your home loan. When comparing mortgage lenders, start by considering the following:

  • Do they have a reputation of trust and good customer service in the community?
  • Are they a financially sound and responsible institution, the kind you can trust over several decades with your most important asset?
  • Will you continue to have a relationship with this lender after your loan closes, or will your mortgage relationship most likely be transferred to another bank or lender?

Details to consider while choosing a mortgage lender

When searching for the right mortgage lender, you have to consider how they will assist you on a day-to-day basis as well. Here are a few specific questions to ask yourself and potential lenders.

  • Customer support: Can you get the answers you need, either online or by phone, from this lender in prompt fashion?
  • Rates and fees: Does this lender offer mortgage interest rates, fees and charges that are competitive with other institutions?
  • Expertise: Do you get the feeling from the professionals you've talked to that they understand the industry and have the necessary background, training and experience to address your specific situation?
  • Innovation: Does the institution seem to keep up with technology and other cutting-edge developments that in the long run will provide you - the borrower - with better service?

Choosing the mortgage lender with the flexibility and options right for you

Even if a lender has everything you are looking for in terms of customer support and innovation, make sure you spend time looking at the details. Find out if they have flexible options and if you can qualify under their guidelines. Each lender is different, so if you don't find what you are looking for at one institution, continue your search. The right mortgage product exists for every qualified buyer. Don't be afraid to ask questions and further research anything that is unclear.

Apply for a mortgage with Citizens Bank

Citizens Bank is a mortgage lender with a strong reputation of providing customers with a level of personal support that simplifies the lending process. Find out today why Citizens Bank is the right fit for your mortgage needs. Once you are ready you can apply for a mortgage online or contact a home loan originator at 1-888-514-2300.


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