What Lender is “Right For You”
What kind of lender is "best?"
Talking to a loan officer, he (or she) will probably say the lender they work for is "the right one" and give you the reasons why. If you meet the same loan officer later and he works for a different lender, he will give you a list of reasons why that lender is better.
Realtors have conflicting opinions and, as a group, their opinions changed over time. In the past, most would often recommend portfolio lenders - because they almost always closed the deal. As time passed, mortgage bankers and mortgage brokers became more important.
Realtor will direct you to a specific loan officer who has demonstrated a track record of service and reliability -- or a loan officer who works for a lender affiliated with their real estate office.
Generally it is more important to select a good loan officer than the institution. Loan officers have two jobs. One is to help you get the loan approved. The other is to provide quality loans. You want someone who has proven dependable and ethical in the past.
Each type of lender has strengths and weaknesses. Quality within each branch or office can vary, depending on the loan officers and a variety of other factors.
