Finding the right mortgage planner is no different than hiring someone for a job. It is easy to think about the process more than the person, but choosing your mortgage planner is no different than hiring a lawyer or an accountant. This person will guide you through the largest financial transaction of your life, so don’t leave it to chance with an online stranger or being one of hundreds of applications stacked on a banker’s desk.

It is important to ask the right questions of the mortgage planner with whom you may work. To remember the right questions to ask, use the acronym, “PRESS.”


Ask your prospective lender to walk you through the homebuying process. As a first-time homebuyer, you are going to need someone who can explain the steps to you and make sure things run seamlessly. The loan process requires a great deal of paperwork and can be extremely overwhelming. Often you will have to provide employment and credit verification and income and asset verification multiple times before closing. You want to choose an expert to answer all your questions and concerns to alleviate your stress.


Ask your prospective mortgage planner what their mortgage interest rates are based on, and ask about the current economic report and factors that could cause movement in the current rate. A loan professional should have the economic report information readily available and explain the impact this will have on your rates. They should also be able to elaborate on why mortgage interest rates are based on mortgage-backed securities or mortgage bonds.


Ask the loan officer to tell you how long they have been in the mortgage industry. The more experienced they are, the more likely they are to have dealt with any problems during the homebuying process. If you encounter an issue, a more experienced lender is more likely than a beginner to have the insight to easily solve your problems. It’s also imperative that they have their operations department in-house, like we do at Fairway. If any problem arises, your mortgage planner can simply walk down the hall to discuss your loan.


To make certain the person you choose is going to be a good fit for your particular loan product, inquire about their area of expertise. Someone with specific experience in purchasing is going to be much more beneficial to you than someone who specializes in refinancing. Our experienced Mortgage Planners cover all facets of lending.


Ask your prospective planner how many loans they have closed in the past year. This is a good indicator of how successful they have been in helping people achieve their goal of affording their dream home. Ask to see some recommendations or simply look them up on LinkedIn or do a Google search of their company’s reputation. Luckily, you will have no surprises when you research Fairway.

Finding a mortgage planner with whom you feel comfortable and who is compatible with your needs is the driving force behind this huge financial decision. The right person should check all these boxes and be able to answer all of these questions, and more, in great detail. They should be able to thoroughly explain the process as well as work through any possible problems that may arise.

Source: ~ Image: 21online Asset Library

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