5 Hallmarks of an Excellent Mortgage Lender

Purchasing a home is a large investment—both financially and emotionally—and borrowers have many options.  Identifying the best financing option can be difficult.  When selecting a mortgage lender to assist you in purchasing a new home or financing a renovation or repair, look for the following characteristics to ensure you have an excellent one.

1. The lender wants you to be their client for life…and treats you accordingly.

This is the first and most important characteristic.  Don't rush to settle and shackle yourself to a lender who merely pictures you as his next paycheck, leaving you at the closing table to foot the bill. An excellent lender will strive to build a lasting relationship that enables you to achieve your goals.  You should expect follow-up calls, e-mails, and letters that help you stay on track during repayment and keep you updated on market trends and refinancing opportunities.

2. The lender keeps rates low and fees to a minimum.

Historically, conventional home loans have higher rates than FHA Mortgage Loans.  An excellent lender knows this and will offer competitive rates and only charge fees that make sense.  Take advantage of free online banking tools and paperless billing.  Such features will often save you money. 

3. The lender provides speedy pre-approvals.

An excellent lender will get back to you in a timely fashion.  Look for someone who is just as committed to buying the house or starting the remodeling project as you.  Don't waste your time with a lender who doesn't make you a priority.

4. The lender presents an array of loan solutions to fit your individual needs.

An excellent lender knows the housing market well and is prepared to offer the best financing options for your situation.  Paying for upgrades or repairs can be costly.  The seller may leave waterproofing the leaky basement up to you (the buyer).  You may suddenly need to borrow money to pay for a settling foundation or crawl space repair.  Perhaps you're finally ready to finish your basement and just need help financing the project.  An excellent lender will help you take advantage of a 203(k) loan, a cost effective program that allows borrowers to finance repairs and additional home improvements up front as part of their mortgage.

5. The lender ensures smooth, hassle-free closings.

The last thing you want is a delay in the closing process.  An excellent lender will make sure you have what you need in time to close on a home or pay the contractor for your repairs.  You shouldn't have to cross your fingers.  Choose a lender you can count on.

Aaron Hempel of USA Mortgage has spent over 12 years helping individual clients achieve their financial goals. His mortgage planning strategies and loan product knowledge are drawn from these years of experience in the mortgage banking industry.  Aaron believes in earning the privilege to serve his clients, and he makes it a top priority to communicate with them on a daily basis from the first meeting right up to the closing.

Woods Basement Systems has helped Missouri and Illinois homeowners with basement and foundation problems for over 26 years.  We have the experience and the resources necessary to fix wet basements, settling foundations, and moldy crawl spaces permanently for your peace of mind.  Many of our customers have worked with Aaron Hempel to secure financing for their basement and foundation projects in Saint Louis, Saint Charles, O'Fallon, Edwardsville, Glen Carbon, and the surrounding areas.  On many an occasion, they have expressed that Aaron truly bears the marks of an excellent mortgage banker.