Choosing a loan officer, like choosing a Realtor, is one of the most important decisions you can make when financing a home purchase. Your loan officer will be working very closely with you and sorting through a great deal of personal information, so you want to find someone who is responsive, well-versed in loan product options and trustworthy. Here are a few tips to find the right loan officer for you:

• Find someone who is interested in what is best for you. They should be collaborative and willing to listen and work with you to understand your needs and financial situation. Make sure it’s a good personality fit. Ask for references. Compare responses.
   
• Make sure the loan officer is established with a reputable company that has been recognized for excellence.  NJ Lenders Corp. has many many loan officers  that have achieved "5 Star Professional" and "Top 200 Mortgage Originator" status.   The company is also consistently ranked as a top mortgage company year after year by various publications. For over 24 years NJ Lenders Corp has been a trusted mortgage lender serving customers.  The company strives to make every client a "Customer For Life" 
    
• Interest rate should not be your deciding factor. It’s just a number that is mostly driven by specific borrower qualifications. It’s simply not a good indicator of the level of information and service you can and should expect.
   
• Are you being offered choices? There are many loan programs available and a good loan officer will be thoughtful about your situation and research different loan programs to offer you different ways to finance your home purchase. They should work on your behalf to get the best loan for you.
   
• Are they up front about the costs and fees involved in each of the loans discussed with you? A good loan officer will be very transparent about the fees and costs involved in getting a mortgage. Depending on the kind of loan you are discussing or choose, those costs can vary a bit.
  • NJLenders Tip: Ask about document preparation fees, paying points up front, detailed closing costs, appraisal costs, adjustment schedule (if you are considering an ARM – adjustable rate mortgage) and prepayment penalties. Our loan officers can break out the costs for you and explain each of them to help make the comparisons easier when you are evaluating different loan programs to determine which is right for you.
     

Bottom line – ask, ask, ask! Mortgages are complex financial agreements, your loan officer should be willing and able to answer any question at any time. The best loan officers, and we like to think that theloan officers at NJ Lenders are the best, will volunteer information to you, anticipate your questions and keep you informed with the what and the why as you go through the process. Remember, it is your money and will be your mortgage, so it’s up to you to find a partner you trust who will help you understand what is required at every step along the way.