Homebuyer Tip No. 2—Never Pick a Lender Based Solely on Their Rate

Albuquerque, NM Real Estate Video Blog with The Venturi Team

When choosing a lender, don’t just make a decision based on the interest rate they offer. There are other things you must take into consideration too.

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If you need a loan to buy your home, never pick a lender based on the interest rate they offer. Why?

While interest rates are definitely important, there are many other factors that come into play when it comes to lending that most people don’t realize. The fees that the lender charges to do the loan should also be taken into consideration, as well as their reputation and their ability to close on time.

As you might notice in the video above, I’m standing in front of a pile of leaves. This is because lending these days involves a pile of paperwork, and you need to be prepared for it and know that you’re not being picked on. Every lender has to ask you for lots of documents, and then ask for them again so they can be updated. It takes a lot of effort from you to get a home loan, and that’s the way it should be.

It takes a lot of effort on your part to get a home loan.

Stayed tuned for the third part in our ongoing series providing tips for homebuyers. In the meantime, if you have any questions or are thinking about buying a home in our market, don’t hesitate to reach out to us. We’d be happy to help you.