How to Pick the Right Mortgage Banker

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How to Find the Right Home Loan Professional to Help You with Your Mortgage

By: Chris Klau

The following home loan question is one that we get often at Quizzle.com. To give you the best possible answer, we’ve brought in Home Loan Expert Chris Klau.

Chris has nearly 10 years of experience in the mortgage industry as Director of the Mortgage Insiders at Quicken Loans and works hard every day to provide trusted advice and home loan expertise to team members, friends and family, and external partner companies.

Q: What qualities should I look for in a mortgage banker?

A: That’s a great question and one that’s not asked nearly enough.

Many people spend their time and energy shopping for the “best deal” when looking for a home loan, rather than the best expert to guide them through the home loan process. However, navigating the often complex waters of home financing without real guidance from an expert isn’t usually the best approach.

[Mortgage Help: Get your free credit report and see if your credit score is mortgage qualified]

A home loan expert offers inside knowledge of interest rates and costs, which change daily, as well as how to match the right mortgage to your unique personal financial situation and goals. In my experience, the two most important qualities to look for in a mortgage banker is trust and experience:

Find Someone You Can Trust

First things first: When picking the right home loan professional to guide you through the home financing process, you’ll want to find someone you can trust. Talk to family, friends and co-workers. Find out who they’ve worked with in the past and with whom they’ve had great experiences.

It’s also a good idea to find out if your company has a preferred mortgage lender. You’ll get the benefit of going through a home loan company your employer has already vetted, plus often times, the added bonus of special perks and promotions.

If you get a lead on a mortgage banker you think is worth checking out, make sure the banker works for a quality institution and recognizable name. You can also ask the mortgage banker for testimonials from previous clients to see what others are saying. If the banker can’t provide that simple information, think twice about working with him.

Look for Someone with Real Expertise

If you’ve found someone you think you can trust, it’s important to make sure that person has knowledge and experience in home financing. After all, it’s the banker’s expertise that you’re relying on to put you in the right home loan, educate you about how the loan works and alert you when new opportunities arise down the road that will further improve your financial situation.

Don’t be afraid to ask your trusted home loan professional how long he’s been in the mortgage industry and how his clients rate him. Many lending institutions ask their customers to rate their home loan experience and upon request, will provide that information.

An experienced home loan professional should be skilled in setting the right expectations for you so you know exactly how the home loan process will work and what you will get out of it. He should also ask a lot of questions to properly assess your unique personal financial situation and goals, and provide a home loan solution that fits. Finally, an expert mortgage banker should also have a sense of urgency and respond to your calls or emails quickly and effectively.

Many people might spend their time and energy shopping for one-eighth of a point difference in interest to shave a few dollars off their monthly mortgage payment. That time might be better spent finding a trusted mortgage expert that will guide you through the process and help you find a home loan program that fits your personal financial situation and goals. Ultimately, the right banker can make the difference between a successful home loan experience and one that will leave you disappointed. A trusted, experienced home loan professional will get you in to the right mortgage program and that may save you thousands!

[Mortgage Help: Get your free credit report and see if your credit score is mortgage qualified]

Good luck! And if you need help finding a trusted expert to assist you with your home loan experience, please feel free to contact the Mortgage Insiders at 1-800-QUIZZLE (1-800-784-9953).

  • michael D Frazer

    I am 19 and would like to purchase my 1st home. I have no credit score because I have no cards of anykind or no payments except my rent. Will this hurt me in getting a loan?