During your home buying process, your loan officer will be and must be your best advocate. As a professional and experienced person in the mortgage industry, he can surely give you the best options and loan programs to finance the home that you are buying. With that being said, it’s always recommended to build a good relationship with your lender. Nowadays that technology is really magnificent; you can do it in spite of time or distance challenges.
How to build a good lender-borrower relationship?
- Start by finding the lender that is of the right match with you. Lenders and borrower work better together if the borrower knows things about mortgage and if he understands the rules and options of getting a mortgage. Lenders want to work with borrowers who are also a perfect match for what they are looking for. If you aren’t experienced and you need hand-holding, then you need to find a lender that you can be comfortable with especially with your low level of confidence. When you’re comfortable with your lender then you can start being more open-minded and you’ll have better relationship.
- Communicate with your lender. Communication is a very effective way in building a good relationship. Don’t let fear or shyness prevent you from contacting your lender. If you have any questions and concerns then make sure to properly address it to your lender and you’ll surely get the right answers that you need. You can call them anytime that you want to know things and if you have essential concerns about the loans you are getting. Some lenders are very accommodating that they will be the first one to contact you however, it’s not always the case. So when your lender isn’t like that then don’t hesitate to make the first move. If your lender still refuse to answer you or not open to communicating and you think that he’s not capable in answering your concerns then it’s better to find another one. Getting a loan that you don’t fully know will lead you to bigger problems and money issues in the end.
- Be Open-minded. There are some home buyers that are too boastful especially if they are buying a home for the nth time already or refinancing. There’s no problem showing and letting your lender know that you are knowledgeable of home loans and they couldn’t put a trick on you. However, as a borrower and as a lender that is a professional in this kind of business, you need to keep an open-mind. Listen to his opinions and suggested options because he still knows more than you what you already know. Rest assured that your lender has pretty much seen it all, so he won’t surely put you in a miserable state.