How to Find the Right Lender For Your Refi Loan
Have you decided to apply for a Georgia refinance loan but just cannot make up your mind as to which lender to choose? Your dilemma is perfectly understandable.
After all, refinancing your home is a big financial move that can seriously affect your credit rating.
Also, since a new mortgage is something you will have to live with for a long time, you might as well work with a lender with whom you are comfortable dealing.
It is no longer enough to select one which is reliable and reputable because all lenders claim to be such.
So how do you choose the lender to work with on your refinancing if claims of reliability and being reputable are no longer enough as factors for making your decision? Here are a few tips that can help you.
1.
Test the lender's reputation.
A lender may claim to have a good reputation, but this is something that you can easily test.
You can talk to family members or friends who have refinanced their own home and see if they can give positive input about the lender you are eyeing.
You can also check the Better Business Bureau or similar agencies in Atlanta for feedback on your lender.
2.
Check the lender's track record.
How long has the lender been in business? Stability is a huge thing among lenders so you should select one who has been operating for a very long time.
Unless something disastrous happens, the lenders who have been running their business for a long time are the ones who are highly likely to stay around ten or 20 years from now.
3.
Fill out applications.
Make up a list of the lenders that have passed your reputation and track record tests.
Choose three or four lenders from that list whose refinancing programs you like and fill out application forms.
See how fast they respond to your application and check out what they have to offer in terms of interest, repayment period, required fees and others.
4.
Test the officer's professionalism and knowledge.
The importance of working comfortably with a lender is mentioned above.
Choose the one who acts promptly to your requests and patiently answers all the questions you may have about refinancing.
A GA refi may be a good idea to address whatever financial situation you may be in.
However, you should only work with a lender who knows what they are doing, has a solid reputation and with whom you are most comfortable.
After all, refinancing your home is a big financial move that can seriously affect your credit rating.
Also, since a new mortgage is something you will have to live with for a long time, you might as well work with a lender with whom you are comfortable dealing.
It is no longer enough to select one which is reliable and reputable because all lenders claim to be such.
So how do you choose the lender to work with on your refinancing if claims of reliability and being reputable are no longer enough as factors for making your decision? Here are a few tips that can help you.
1.
Test the lender's reputation.
A lender may claim to have a good reputation, but this is something that you can easily test.
You can talk to family members or friends who have refinanced their own home and see if they can give positive input about the lender you are eyeing.
You can also check the Better Business Bureau or similar agencies in Atlanta for feedback on your lender.
2.
Check the lender's track record.
How long has the lender been in business? Stability is a huge thing among lenders so you should select one who has been operating for a very long time.
Unless something disastrous happens, the lenders who have been running their business for a long time are the ones who are highly likely to stay around ten or 20 years from now.
3.
Fill out applications.
Make up a list of the lenders that have passed your reputation and track record tests.
Choose three or four lenders from that list whose refinancing programs you like and fill out application forms.
See how fast they respond to your application and check out what they have to offer in terms of interest, repayment period, required fees and others.
4.
Test the officer's professionalism and knowledge.
The importance of working comfortably with a lender is mentioned above.
Choose the one who acts promptly to your requests and patiently answers all the questions you may have about refinancing.
A GA refi may be a good idea to address whatever financial situation you may be in.
However, you should only work with a lender who knows what they are doing, has a solid reputation and with whom you are most comfortable.
