Meet Our Lenders
Let our experienced and local lenders help you finance the home of your dreams! Get started by contacting us today.
Choosing a Mortgage Loan Officer
When you’re in the process of buying a home, your real estate agent can feel like your best friend. They’re walking you through showings, negotiating on your behalf and helping you chase your dream home. But there’s someone else in the background who’s just as important—and someone who will likely be part of your financial life far longer: your mortgage loan officer.
Unlike a realtor, whose involvement typically ends after the sale closes, a mortgage loan officer may be part of your life for decades, depending on how long you keep your loan. That’s why it’s crucial to find someone you trust, feel comfortable asking questions to, and who genuinely has your best interests in mind. Here’s what to know and look for when choosing a mortgage loan officer.
Why the right mortgage loan officer matters
A mortgage isn’t just a loan. It’s a financial commitment that will likely be one of your largest monthly expenses for several decades. Here’s what a good loan officer will do:
- Guide you through your mortgage options, such as fixed vs. adjustable rates, FHA vs. conventional loans, etc.
- Help you understand the long-term financial impact of different loan structures.
- Keep your loan moving forward during the underwriting and approval process.
- Serve as a resource for refinancing, pre-approvals and future purchases
A great mortgage loan officer becomes a trusted financial ally. Here’s how to find the one who’s right for you in six steps:
- Start early. Don’t wait until you’re deep into the house-hunting process to look for a mortgage loan officer. Begin your search before you start viewing homes—ideally when you’re first thinking seriously about buying. Early conversations can help you:
- Understand how much home you can afford
- Get prequalified and/or preapproved
- Identify and fix any issues on your credit report before applying
- Ask for recommendations. Talk to your friends and family members who’ve recently bought a home to request recommendations. Other great resources for ideas include your real estate agent and your financial institution. Don’t be afraid to interview multiple loan officers. The right one won’t pressure you; they’ll welcome your questions.
- Look for clarity, not jargon. A good mortgage loan officer should be able to break down complex terms for you so you can understand all the different components of your mortgage. They’ll also explain various loan products clearly and be transparent about rates, fees and timelines. If they brush off your questions or seem annoyed by basic concerns, that’s a red flag. You want someone who empowers you, not overwhelms you.
- Evaluate their communication style. You’ll be in touch with your mortgage loan officer (as well as members of their team if they have one) frequently throughout the process, especially during closing. Make sure they return calls and emails promptly, keep you updated on all progress and that they’re proactive about potential hiccups. It’s also a good idea to choose someone whose communication style matches your needs. If you’re anxious about the process, you’ll want someone more hands-on and available at almost any time of day. If you’re experienced, you may prefer a loan officer who checks in only when necessary.
- Make sure they’re transparent about costs. Your mortgage loan officer should provide you with a loan estimate, which outlines the loan amount, interest rate, closing costs, monthly payments and more. Be sure to ask about: Origination fees, Discount points, Private mortgage insurance (PMI) if applicable, and Prepayment penalties. If their numbers seem vague or too good to be true, dig a little deeper before moving forward.
- Check reviews and credentials. Research online reviews, check their NMLS number (every licensed mortgage loan officer has one) and look for signs of professionalism and integrity.
Important facts to know about your mortgage process
Before moving forward, it’s best to learn these little-known facts about the mortgage process:
- Pre-approval is stronger than pre-qualification. A good loan officer will walk you through both and explain how they affect your offer leverage.
- Your relationship doesn’t end at closing. Many loan officers stay in touch about refinance opportunities, rate drops and future purchases — another reason to choose someone you like and trust.
If you’re in the market for a new home, make sure to contact a Timberland Bank Lender to ask about our home loan options. We’ll help you move into your dream home with the most favorable terms.
Apply Online, Anytime
Get pre-qualified for your home loan online in as little as 20 minutes!