Everyone wants to know:
- How do you find a reputable mortgage lender in California?
Finding the best mortgage lender in California is not as hard as you think if you know what to look for and take a little time to do some research. And I’m not talking about hours and hours of research just to find one reputable mortgage company. Below you’ll find out how to find the best mortgage lender in California and how little time it takes. Whether you’re looking for a mortgage lender that is small or large; bank or broker there is a relatively easy way to find several options for your next mortgage loan.
Find the Best Mortgage Lender In California:
Every mortgage company I know offers both fixed rate mortgages and adjustable rate mortgages and they all love to claim they have the best mortgage rates ever! Well the fact is not every mortgage company has the best mortgage rates, sometimes a mortgage company has great rates and sometimes not – especially if it’s a lender like a bank that only has one option for fixed and adjustable rate mortgages. Mortgage brokers have the benefit of many different lending options which allows the company to offer low mortgage rates more consistently.
But before all that you want to know who is the best mortgage lender in California and which mortgage companies are not. Because closing a mortgage at a low rate requires a loan officer with knowledge, experience and dedicated customer satisfaction.
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Actions you Can Take:
Here are four simple items that can help ensure you work with a reputable mortgage company in California:
- The mortgage company has a top rating with the Better Business Bureau (BBB).
- They also have an additional top rating with another consumer organization like the Business Consumer Alliance (BCA), Zillow or Yelp.
- Properly licensed with the state of California and NMLS with zero complaints.
- Longevity for both the company (or owners of the company) and the Loan Officer. Although it is #4 on the list; it’s just as important as the other three. Reason? A bad Loan Officer/company doesn’t last long in mortgage industry; and a company/Loan Officer with 10, 15 plus years experience means they’re probably doing the right thing for their clients.Someone just entering the mortgage business may not be the best option even if they offer the “best rate”. Anyone can quote a rate; but that doesn’t mean your loan will close at that rate. Using a reputable mortgage lender in California and a Loan Officer that has a long history in the business helps ensure you will close at the mortgage rate quoted. They will also help you make some important decisions about your mortgage and loan program.
Items one through four may take ten to twenty minutes which is hardly any time at all considering the importance of the transaction. And when you find some companies you think are reputable; ask questions-lots of them! If you get a lot “I don’t knows” or “let me get back to you on that” and they never do; that might be a red flag to watch out for when you’re calling around.
The Best Lenders Offer The Best Loan Programs:
The mortgage companies that are considered the best lenders in California typically have a wide variety of loan programs to offer their clients. The three main loan programs the best lenders offer are:
- Conventional-Conforming mortgages
- FHA home loan program
- Jumbo home loans
Are their other loan programs not on the list? Absolutely; those include VA loans and Private Money (aka Hard Money) loans are two additional loan programs available. However they are a small percentage of the market. Each of the three main loan programs offer both fixed rate terms and adjustable rate terms. The most popular term is the 30 year fixed rate mortgage and every reputable lender in California offers it. The second most popular is the 15 year fixed rate term followed by the 20 year fixed rate option. Adjustable rate loans are a small percentage of the market.
A Reputable Mortgage Company In California:
Taking action to find a reputable mortgage company in California can help ensure you obtain low mortgage rate. If you are looking to refinance your current mortgage or if you’re looking to buy a new home we would be happy to provide you with a no cost – no obligation quote. You can contact me directly at 1-800-550-5538 and I’ll take the time to find out how we can best be of service. A unique feature of working with us is that you work with one person from beginning to end. If you’ve ever done a mortgage before you know; once the Loan Officer gets your application you’re passed on to two-three different people during the process. Not with us; from the beginning of your mortgage loan process until the mortgage loan closes; you’ll work with one person.