You've done it! You've strengthened your credit score, figured out your budget, and now you're ready to find a new place to call home. Taking your first step in the home buying process can be intimidating when there isn't a shortage of mortgage lenders eagerly awaiting your application. However, finding the right ally to help you navigate the home buying process can be pivotal when choosing the right path home. We'll help you keep a keen eye on what to look for in a lender and what to watch out for during the home buying process that will give you the confidence that you've taken the correct steps.

What to Look For

Remember, all mortgage lenders are not the same when trying to find the right fit for you, and there are a few things you should look for when searching for a lender who can find the best loan for your situation. You'll want to do your research online and find a lender with excellent reviews on Google and other platforms like Facebook and Zillow. Reading online reviews can lead you in the right direction. Finding a healthy amount of 5-star reviews is a good sign. Make sure you're looking for a mortgage lender who is responsive to your inquiries and gets back to you quickly. Approval and rejection rates are also a good indicator that a lender has the experience and will know which loan is the most beneficial for the buyer and their situation. Also, find a mortgage lender who will patiently review your documentation and take the time to walk you through the whole home buying process from start to finish.

What to Avoid

We would like to believe that all mortgage lenders will want to do what's best for their clients, but the truth is this isn't always the case, and avoiding the wrong lender could end up saving you thousands. Avoid lenders whose primary focus is loan volume. Big bank loan officers have sales quotas, and they may not put the proper emphasis on customer experience, which could leave you worrying that your loan wasn't the right choice. Steer clear of lenders who claim they can always get you the lowest rate no matter what, as some shady lenders use this sales tactic to get you in the door and lock you into a rate that may not be right for you. Remember that if the lender is too busy to explain all of your options, they may not be putting the right amount of time into finding a loan tailored to your specific needs.

Buying a home is always exhilarating, and finding a trusted lender for your specific situation will be a crucial part of your overall experience. Now, you'll have confidence that you've taken the first step toward finding the best loan for your new home, and finding the best mortgage lender is just as important as the home buying process itself. Knowing what to look for and what to avoid will make all the difference.