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2015-03-20 15:14:16
What Lender Should I Use For My Vegas Home Purchas

I get ask many times 'What lender should I use for my Las Vegas home purchase?'.  Here's my standard reply.  Whoever you want to use. 

The four key questions you should ask when researching a lender before making a decision is:

What is it going to cost me to do a loan for ___________ amount of dollars?
Do you have an in house lender or do you broker out the loan?
How good are you at communicating with me, my Realtor and the Title Company?
How good is your processor at communicating with me, my Realtor and the Title Company?

It's my experience that the less people you have to go through to get answers when you need them the better it is for getting the home closed on time.  Loan officers that work for companies that have their own in house lender are usually easier to work with than companies that broker out the loan to another lender.  That said, you may get a better rate from a loan officer that brokers out your loan.  That's why you need to do your homework before buying a home.

Like myself all Realtors have lenders they can recommend to help you with your home loan but it is totally your decision on who you select.  I suggest you should shop at least three lenders before making a decision.  Don't wait until you put an offer on a home to search for a lender.  If you do, you will end up making a hasty decision and probably the wrong decision.

By no means am I requesting you use a lender from Las Vegas, I'm only telling you what my experience is if your lender has an office in Las Vegas and is not communicating with me.  If the lender is from Las Vegas, I can drive over to their office and ask Why things are not getting done on the loan?.  Lenders can dodge my and your emails, texts and phone calls but they cannot dodge my questions when I'm standing right in front of them.  I have done this before, and I'm sure I will have to do it again.  It makes my job easier to help you.  With out of State lenders, I will talk to their managers if necessary. 

It's very important to pick a good lender that can get you a good interest rate, has low fees, is good at closing loans on time and is good at communication.  These are all important factors in getting your home loan and transaction closed on time.  No one wants to lose their earnest money deposit because their lender did not perform on time and the seller would not extend escrow.

I hope you find this post helpful.  If you have any questions, please feel free to call, text or me.  Thanks and have a good day!                                   

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