Home buyers may not realize how complex and competitive the lending process can be. For many, especially first-time buyers, there’s only a hazy idea of “the bank” approving or denying them a mortgage. So many don’t realize how to shop for a loan or that investing a little time upfront can result in profound savings and a sense of satisfaction.
A recent article in the Wall Street Journal recently revealed ”in a recent survey, 21% of home buyers regretted their choice of lender.” Among first-time buyers, that figure crept up to 27%.
This is a good piece to share with your contacts, because it also includes helpful tips on how to avoid a feeling that they’ve gone with an inferior lender.
Additionally, you may be interested to share some tips with them from Nerd Wallet to help them “jump-start the mortgage loan process.”:
Finally, offer them some resources to avoid becoming a victim of a predatory lender. This piece, “Top 12 Warning Signs of A Predatory Lender” by FHA Loan Pros provides crucial warning signs which might just save your clients from a major mistake.