A loan officer has authority to deny or grant the Kinnisvaralaen which you require from bank or any other financial institution. He/she obviously plays a crucial role in sanctioning and approval of loan. Hence, it is important to have clear discussion with him throughout the transaction.
However, some buyers end up with no clarity on terms due to communication gap. Hence, it is important that before meeting the loan officer, you have clarity on everything that you should ask him/her. Following section will brief you some important questions that you should ask a loan officer such that the loan approval process goes smoothly.
Who is A Loan Officer?
To be precise, loan officers are representatives from bank, mortgage brokerage, credit union or other similar financial institutions. The job of loan officers is to assist the borrowers in acquiring finds from bank. If you’re a homeowner, you would need to hire a special type of loan officer, usually known as loan underwriter.
An underwriter is basically the person, who handles the underwriting approval after reviewing and analyzing your credit. Following section will brief you some tips to find a professional loan officer.
Tips to Finding a Loan Officer
When you start searching for a real estate loan, many lenders will come to you offering lucrative deals. Various lenders will offer different options for paying installments etc. hence you need to be very careful for finalizing a particular lender. Keep the customer service and interest rates to be key parameters for choosing a lender.
- Check with Existing Bank
It is advisable to first reach out to the bank where you already have a bank account. Check the special deals which your bank offers to existing customers. In most of the cases, banks and other financial institutions offer better deals to existing customers, however, it’s better to visit the bank first and discuss your requirement with the bank manager.
- Go by Recommendations
Recommendations can be really helpful while dealing with something as important as an estate loan. For this, you can reach out to your friends or family members who have recently, or in past taken a real estate loan. Recommendations will do the first level of filtration thereby allowing you to choose from the trustworthy banks. Moreover, this can help you to save time by not visiting the banks your relatives didn’t have a great experience with.
- Check with An Estate Agent
In case, you have found a reliable and trustworthy estate agent, it is advisable to check with him/her. This is because estate agents have been into this business for a long time, hence, they can suggest you as to which banks offer great deals on estate loans. An additional advantage of asking your estate agent is that he/she already knows your limitations and requirements, thus, can help you to search and find a perfect loan officer. You can reach out to BestCredit for great deals on real estate loans.