Top 5 Worst Lenders
Your lender can help or hurt you:
Break down the top 5 worst lenders
The top lenders we do recommend
Why local is often better
Watch the video to get the full breakdown
Your lender can make or break winning your dream home.
When we go to submit your offer, we have to include a preapproval letter with that offer. The lenders reputation has a HUGE impact on whether or not your offer will be accepted.
Most listing agents have a “blacklist” of lenders that they have had poor experiences with. It could have been a bad preapproval, missing a closing date or being abnormally difficult to work with.
Many buyers default to thinking they should use their bank or credit union for their mortgage, but this may not actually be the best decision.
Banks and credit unions do dozens of things including retail banking, car loans, checking accounts and then, some mortgages. When you do everything, you don’t do anything exceptionally well.
So we recommend talking to a LOCAL lender that only does mortgages.
It is also tempting to go online to find a lender. You see the advertising for Rocket Mortgage or Quicken Loans and the rates seem amazing.
Unfortunately the rate they offer in their advertising will never matter because you won’t win a home using their preapproval. These online lenders have a terrible reputation in the real estate industry.
Are you ready to take the next steps toward buying or selling your home?
When you work with The Novak Team, you are putting to work the vast experience of some of the top agents in the industry, not just the area. Tap the link below to schedule a zero commitment consultation with me to see if it would be a good fit.