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herlife | real estateCan WeTrust Him?How to Choose aLoan Company You Can Trustby lisa allenThe world of real estate can be tricky. Even if you’ve checkedyour budget, saved enough for a down payment, researchedneighborhoods and selected a real estate agent to tour youaround your preferred neighborhoods, there is one decision that canmean the difference between financial savvy and expensive mistake:choosing a loan company.Like choosing any other professional that you will ultimatelytrust with intimate and confidential financial information, there area multitude of variables that factor into what makes a mortgage companyright for you and your particular set of circumstances. Like anyother field, mortgage lenders vary in terms of experience, expertise,responsiveness and creativity. Finding one with the precise balancefor your unique transaction takes a bit of homework on your part.Quickenloans.com advises that you should talk to three tofour lenders, and remember that the best lender may not offer thelowest interest rate or payments. “Ultimately, the mortgage lenderyou choose should guide you through the entire mortgage process.The best lender must be one that is committed to taking care of yourneeds—one you’re comfortable working with and one who will workto get you the best mortgage to fit your situation,” the site advises.To get you started in the right direction, here are a few generalguidelines to help you choose the right loan company:Ask for recommendations first. Ask your friends, family and evenyour hairstylist; they all probably know at least one mortgage lender,banker or other financial guru they feel comfortable recommending.Don’t rely on just one person’s recommendation, though.Dig around a little bit. Instead of basing such an important decisionon a casual recommendation, develop a list of questions thatdig deeper. Ask the recommender specific questions: how long theyworked together, how the lender handled sensitive situations, howresponsive and reachable they were, did they follow up, and otherspecific questions which create a dialogue that gives you a completeand more accurate picture of how each potential lender operates.Insist on face time. Just because a potential lender worked wellwith Aunt Sally doesn’t mean they will work well with you; differentpersonalities and various communication styles can affect a workingrelationship. Be sure to insist on a face-to-face interview beforemaking any decisions. Ask enough questions that you feel completely66 HERLIFEMAGAZINE.COM