How to Find the Right Mortgage Lender

Choosing a mortgage lender involves more than finding the lowest advertised interest rate. Loan programs, fees, communication, experience and the lender's ability to get the transaction closed on time can all matter.

Start by comparing more than one lender and ask for a clear explanation of the interest rate, APR, lender fees, estimated closing costs and available loan programs. Depending on the property and your circumstances, conventional, FHA, VA, USDA or other financing options may be worth considering.

Local experience can also be valuable. A lender who understands the Harrisonburg and Shenandoah Valley real estate market—and who communicates well with the buyer, Realtor and closing company—can make a complicated transaction considerably easier.

The goal isn't simply to find a mortgage. It's to understand your options and choose the financing that makes sense for the property and your financial situation.

Questions to Ask a Mortgage Lender

What loan programs should I consider and why?

What is the interest rate and APR?

Are there points associated with the quoted rate?

What lender fees will I pay?

What are my estimated total closing costs?

How long is the rate locked?

Is there a penalty or cost to extend the lock?

What down payment options are available?

Is mortgage insurance required?

How quickly can you issue a preapproval?

What is your typical closing timeline?

Who will be my primary contact during the transaction?

Planning to Buy a Home?

Financing is an important part of the purchase strategy. I'm happy to help you understand the process and connect you with experienced lenders to compare.