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Which Lending Company is Right for Buying Your New Home?

When contemplating the purchase of a new home or financing your existing home, a lot depends on your choice of lending company. How do you sort out the real contenders from the pretenders and associate yourself with a lending company that you will likely have a long-term business relationship? Here are a few tips to steer you in the right direction.

Ask a friend

If you have a friend or relative who has gone through the process of selecting a lending company for refinancing or a new home purchase, they might be your best source of information about the merits of any given lender. You'll be able to tell if your friend can only deliver a lukewarm endorsement or whether it's a whole-hearted, sincere recommendation.

In lieu of a friend or relative who's recently worked with a lender, try asking your financial advisor to recommend a good company. Your accountant, your lawyer, or your real estate agent may also be good sources. Many of these people routinely work with lending companies and probably have good information about which ones are the most customer-friendly.

Go online

Lacking any solid input from friends and business acquaintances, feel free to take your search online. But, be aware, that in doing so, you are going outside the circle of people you know, and have personal confidence in. Also, be aware that you are walking right into the most well-formulated sales content you'll ever see, and it's going to be difficult to penetrate all that glitz to get to the core of what might be a real benefit to you.

When you've narrowed down your potential candidates to just a few, start looking for user reviews and testimonials of people who have done business with these lenders, so you can see what kind of experience others have had with the companies. Obviously, you'll want to avoid the ones with a number of negative reviews or specific shortcomings that indicate a persistent business deficiency.

Don't give in to the first slick sales pitch you hear when you're trying to choose a lending company for that new purchase or to get your current home refinanced. You're much better off relying on advice and recommendations from people who have already had a positive experience with a lender, especially if you hear positive things from multiple people.

When you are funded through Sovereign Lending Group, you'll automatically receive a 7-year guarantee, so if your agreed-upon rate drops within the first 7 years, the company will waive its lender fee, pay title and escrow fees, and have your home appraised for free so you can obtain the lower rate.

Contact Sovereign Lending Group today, and take the worry out of your lender search.

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