You have tracked down the right house, you have a good idea as to what you want in a mortgage plan, and now comes the tricky part: finding a loan officer. Too many prospective homebuyers simply make an appointment with whatever loan officer they get at the mortgage company or lender that seems to have what they need to offer. However, it actually is a pretty good idea to get to know your experienced loan officer on a more familiar level before you start working with them to get your new home. Here's a look at why it is important to get to know your home loan officer.
You will spend a lot of time interacting with your loan officer.
From the time you initially apply for the loan to the end of the process when you go in to finish up with closing on a new home, you will spend A LOT of time with your loan officer. Make sure from the beginning the loan officer you choose is someone that is easy to talk to, and someone you do not mind spending some time interacting with. If you don't it can make the process of buying a home and all of those involved meetings with the loan officer a lot more nerve-wracking.
Your loan officer is like a hired agent with a wealth of service to offer.
The more comfortable you become with your loan officer, the more you can take advantage of this professional relationship. You are a customer, and you are paying for a service. However, the loan officer who is most familiar with you because of your ongoing interactions will be able to give you a ton of healthy homeowner and financial advice. These professionals see all kinds of situations, and they garner a lot of experience to help you out and through money-related situations.
You will probably need your loan officer down the road as a homeowner.
Buying your home is just the first time you will have to borrow money to become a homeowner; it will most likely not be the last time you have to have funding for some other reason. Down the road, you may need to take out a second mortgage or home-equity loan. You may need to borrow money to make general repairs or if something bad happens and you have no money. It will be these times when you will most want to see a familiar face sitting across from you at the financial institution.