Mortgage Monday: Questions You Should Ask Your Loan Officer

QUESTIONS YOU SHOULD ASK YOUR LOAN OFFICER

How long have they personally been in the mortgage business?

Do they have any underwriting experience?

Do they charge for a pre-approval? (Beware—they are doing this to hold “bond” money from you so that you feel obligated to continue doing business with them.)

Do they have the capability to offer many different investors’ rates and products, or just their own?

How many transactions do they generally close on a monthly basis? (Note: if they do not seem very busy, you should wonder why. Good loan officers are in high demand for good reason.)

Do they have a dedicated team working for you?
The answers to these questions should tell you what caliber of person this is, to whom you are considering entrusting probably the largest financial transaction you will make in your life. We would love to have the opportunity to discuss these questions with you, and the many more you probably have. Please call or email us at your convenience.

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