Why It’s Important to Work with an Experienced Loan Officer

When you are shopping for a new home, you may tend to take the loan officer for granted. It is important to ask questions and consider the importance of working with a loan officer who has the experience and communication skills necessary for a smooth mortgage application and underwriting process. Here are some of the benefits of working with an experienced loan officer when you buy a house.

Knowledgeable About Different Types of Loans

An experienced loan officer understands the various types of loans and can help you identify the best mortgage program for your needs and qualifications. For example, they will understand the difference between conforming and non-conforming loans, how jumbo loans work, and the requirements to get a government loan from the FHA, VA, and USDA.

Understands Lending Requirements

Lending requirements can be complex and confusing since, in many cases, they vary from lender to lender. Your loan officer will be able to explain the requirements for government loans and conventional loans, including credit scores, debt-to-income ratios, and how your personal financial picture will translate into mortgage rates. Also, the Loan Officer and go over short and loan term goals.

Can Guide Buyers Through the Mortgage Application Process

If you’ve never gone through the mortgage application process, or have not been through it recently, it can be a bit overwhelming. By working with an experienced loan officer, you can get the guidance you need. They’ll be there to answer your questions and to ensure your application is complete before it’s submitted to the underwriter.

Troubleshoots Problems

While everybody hopes for a smooth underwriting process, sometimes questions or obstacles arise. This is normal, but it can be stressful. When you have an experienced loan officer by your side, they can help to troubleshoot problems, answer questions, find solutions and be there to help get the approval of your loan back on track.

Keep your loan officer contact number handy, and check in as offer with your officer.

Are you ready to begin the process of applying for a mortgage? Email loan officer at glenda.lee@preapprove.com.