Here are some ways to find a great Loan Officer:
- If you are buying a home, get a referral from your realtor. Most realtors who have been in the business for a while have run into loan officers with a variety of skill levels. They are in a good position to see who really does a great job when the chips are down! Ask your realtor for their thoughts.
- Check out their website. A great loan officer will probably have a blog that shows that they understand what they are doing. Don’t be fooled by a “canned” website, or a company website. You can find a million slick websites out there with mortgage calculators on them. Look for original material posted by the loan officer, but don’t expect them to give away all their secrets. Look for clues that the specific loan officer you will be working with is an experienced expert.
- When you think you have found your loan officer, call them and see if it fits. Let them know you are looking for someone to help you with a home purchaseor refinance. Then sit back and see what they do with the conversation. A great loan officer will start asking you insightful questions that will help ensure they understand all your needs and do a great job for you.
- Ask how many mortgages they have personally originated. Your mortgage is too important to work with someone who does not have depth of experience. Ask them point blank how many mortgage loans they have personally originated. Listen carefully to make sure they don’t tell you how many their company has done. There are many important details that an inexperienced loan officer will not even know to ask you about, let alone discuss with their boss. Look for someone who has personally originated at least 500 loans.
- Don’t be afraid to commit. The best loan officers will probably ask you for some sort of commitment after your first or second conversation. Remember, since most of the best loan officers work primarily on commission they cannot afford to invest a significant amount of time with someone who is not committed to working with them. If someone gives away a lot of time without asking for a commitment in return, their time may not be worth that much. If you are not willing to commit, you may not be able to work with the best.