Selecting a Loan Officer with a Trusted Company

While several parts of the mortgage process are similar across all lenders, specific differences can affect the services you receive. The two most common services Homeowners may be looking for are either a mortgage for purchasing a home or refinancing an existing home loan. However, borrowers may not find the best advice according to their needs if they work with inexperienced or poorly trained Loan Officers.

Here is a useful guide for helping you choose a trusted Loan Officer and the right mortgage lender.

Important Questions to Ask

When selecting a Loan Officer, it is suggested that you inquire whether they are working as a licensed mortgage Officer. It might be helpful for borrowers to inquire about their NMLS number to look Officers up on the Nationwide Mortgage Licensing System and verify their records. This can also help you find out the number of years of service they have in the industry.

Asking about the average processing time for your type of mortgage is also crucial. Besides that, here is a rundown of the questions you should ask a potential Loan Officer:

  • Will someone else take over the loan process when it goes to underwriting? Or, will the Loan Officer be the primary contact throughout the process?
  • What is the best form of contact to stay in touch with the Loan Officer throughout the process?
  • What is the recommended rate lock duration?
  • Which steps of the process will occur in person, and which steps will take place online? (Consider closing and appraisals)

Of course, one of the best ways is to ask your family members and friends for a recommendation…they will surely either give you someone who treated them great…or for sure warn you about someone they had a bad experience with!

Important Values

When choosing a reliable Loan Officer, here are the most important values to look for in a trusted Loan Officer and mortgage lender.

Image showing the 3 core values of Big Valley Mortgage. On the left, is a yellow square with a lion icon and the word Respect. In the center, a grey square with a butterfly icon and the word Transparency. On the right, a blue square with a fox icon and the word Scrappy.

Respect

Professional Loan Officers realize the value of time and money. That is why they respect their clients’ needs and help them secure the best mortgage loans without wasting precious time. Your Loan Officer should be sensitive to your needs.

Transparency

Look for a mortgage lending company that guarantees clear, direct, and honest communication. The best Loan Officers and mortgage lenders deliver accurate, relevant, and clear facts to help borrowers make informed decisions.

Scrappy

The Loan Officer you choose should be relentless in their approach to serve all customers. A determined, dedicated, and tenacious Loan Officer seeks the best mortgage solutions. They make sure you qualify for the best loan possible to get your dream house.

Choose the Best Loan Officers in Your Area

Selecting the best mortgage loan is about more than just securing the lowest interest rate. Many times that low rate might come with hidden terms or expensive costs! Ensure that the company you are choosing demonstrates adequate experience working with clients across all loan programs and niches.

If you are looking for a trusted Loan Officer, Big Valley Mortgage is a one-stop solution for all your mortgage needs.

Established in 1990, BVM is proud to serve its local communities with branches located in Roseville, Reno, Fresno, Elk Grove, Stockton, and Sacramento. According to the Mortgage Executive Magazine, Big Valley and American Pacific Mortgage are ranked within the top 15 largest independent mortgage banks in the U.S.

Get in touch with us to find out more about how to get the best mortgage loan for your needs.

Sources

https://www.investopedia.com/mortgage/mortgage-guide/how-to-choose-best-mortgage/

https://www.forbes.com/advisor/mortgages/how-to-choose-a-mortgage-lender/

https://time.com/nextadvisor/mortgages/how-to-find-the-best-mortgage-lender/