Picking a mortgage broker can be difficult. You get so many mail pieces and, if youre not on the Do Not Call List, so many phone call, how do you choose?
One good way is for you to choose instead of being chosen. What I mean is, this is a major transaction and you need to spend time talking to your loan officer and building a long term, trusting relationship. A loan officer who treats you in a way that you will refer your family and friends is usually a great way to go. If the trust isnt there, move on.
Further, when your loan officer pulls your credit report, the credit bureaus will sell your information to other loan officers.
Loan officers who are willing to pay for your financial information are generally less concerned about you and your situation or building a relationship. They want to swoop in, make as much commission off you as possible, then move on to their next prospect. They are not concerned about your repeat business.

A good way to pick a mortgage broker is to ask friends and family for a referral of someone that they have used and have been pleased with. Using someone that comes highly recommended is generally a very safe way to go. If this is not possible then it really just comes down to picking 2-4 mortgage brokers out on your own and going with whomever you feel the most comfortable with.

 

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