Are you in the market for a new home? Perhaps you are looking at how you can find a new private mortgage lender and are unsure. Don’t worry, the expert Vancouver private mortgage lending is here to assist you so that you find a fit that is good for you. You will feel a lot more comfortable after you find a good lender to work with. Keep reading to learn more.
Make a list
The first step and tip we have for you are to make a list of all the private mortgage lenders out there today. This will include a couple that you may just want to speak to on the phone and can do everything virtually and it will include a couple that you can go in and speak to them in person. If you are someone that feels more comfortable with talking to people in person, you know to only put those types of lenders down that are in your specific area. If that is not a necessity to you, make a list of all of the options. This will allow you not only to take notes about different lenders but to say what you like or don’t like about the different lenders as you learn more.
Ask a friend or family member
If you have had a friend or family member that has purchased a home recently, it’s a good idea to look to them for advice. You can ask them who they used for their lender. If they used a private mortgage lender you can ask them who they used and if they were happy with it. If they were, that’s a good person to follow up with the knowledge that they are trustworthy. If they are not, then you know you should stay away from that lender. Regardless of if they liked them or not, you can ask them for tips of things you wish you asked or wish you knew before you started to the learning process. This will assist you in finding a private mortgage lender.
Look online at the current rate
It’s important to know what the current rates are so that you can compare them to what the private mortgage lender is telling you. Of course, this can change on a regular basis so it’s important to keep it up-to-date. If you are looking, however, make sure you keep a note of what the current rate is.
It’s important to ask as many questions as you want. Remember that no question is stupid or will make the company judge you. If they do, they are probably not the company you want to be working with. Make sure you keep a record of the questions you ask so that you don’t forget any and you can remember which lender said which. The last thing you want is to make your decision because you thought one company said one thing when really it was another company. This will also help you when finally looking through your notes and seeing the pros and cons of each lender.
The next step is to compare the answers. If one is appearing to be far better than others, then you have your answer. If you are still unsure and there seem to be a couple that is similar then it’s time to call and book an in-person appointment. If they are not in your area, you can still book an appointment so that you can speak with someone that knows exactly what they are talking about.
Make your choice
The final step is to make your final choice who you want to work with. Make sure you don’t rush this decision and sit down and look at the list you had. This will allow you to remember what you liked and didn’t like about each company you saw and spoke to.
As you can see, there are a lot of different ways in order to find a private mortgage lender that works for you. Make sure that you are patient so that you don’t make a quick decision and end up regretting it later on. If you can do your homework and go through some of these tips you will end up being a lot happier and work with someone that understands your needs.
If you have any questions about working with a private mortgage lender or you would like to set up an appointment with us, give us a call today. We look forward to hearing from you.