A home loan is one of the biggest financial commitments you’ll ever take on during the course of your life.

You should choose the mortgage lender you work with carefully, as the decision will help shape your financial life for many years to come.

Here are five things you should look for in any company you are considering.

An Individualized Approach

Look for a mortgage company that gives you the name of the individual you’ll be working with. Look for someone who talks to you and looks at your entire situation: your credit, your income, your goals, and your future.

This allows your lender to find the loan programs that are right for you, and gives you the confidence that the loan you’re being offered is right for your budget.

Experience

Lending conditions change often. New programs start and end. Interest rates fluctuate. Lenders change their requirements.

Experience matters in the mortgage loan industry.

Ask your prospective mortgage company what their track record is, as well as what sorts of challenges they’ve faced and overcome.

A Commitment to Communication

When you’re trying to buy a home, time is of the essence, and you need to know what’s going on. There is nothing more frustrating than waiting days to get a return call or email, and nothing more upsetting than sitting on hold for hours at a time.

Ask for your mortgage company’s communication policy. How quickly do they respond to questions or concerns? When will you receive updates? How fast will you be able to close on your home? You want someone who will keep you up-to-date on what’s going on and who will help you keep the process smooth and easy.

A Fantastic Reputation

It’s important to know how your mortgage company has treated other borrowers in the past. Take the time to read some Google reviews. Ask around and see what their reputation is among realtors and builders.

You need to know that your mortgage company acts with integrity and lives up to its promises.

Free Consultations

You shouldn’t have to pay anything to ask questions or get advice about the mortgage loan process. Your mortgage lender earns compensation when you close on your loan, and not before.

If the lender is hitting you with a bunch of consultation fees, something is wrong.

By the way, as a local mortgage lender in Miami and Ft. Lauderdale, we offer free consultations! If you want to work with a lender who has closed over 6,900 loans, who has a fantastic reputation, who communicates with you, and who will introduce themselves by name, click here to talk to Alex Doce today.