Which Tennessee Lender is right for you?
How to select the best loan officer to meet your home lending needs

There are several criteria that should be considered when selecting a Tennessee mortgage lender, (actually, selecting a loan officer—who is the public face of the mortgage lender). There are two different types of loan officers:

  1. Those that work directly for the lender, and
  2. Those that work for a mortgage broker.

As a general rule, loan officers that work directly for a lender will be able to provide a more competitive price on a mortgage loan, while a loan officer that works for a broker will be able to process and close the loan more quickly. Obviously, a balance in pricing and delivery would be a best case scenario.

Here are some things to keep in mind when choosing a Tennessee loan officer:

  1. Choose a loan officer that you feel comfortable with. Do not feel pressured. There are plenty of loan officers to go around. The loan officer should be willing to fully disclose, in writing, the details of the loan proposal that includes all of the transaction costs associated with the loan. Any professional, qualified loan officer is will be able to put a good faith estimate together that accurately reflects what you can expect to see at the loan closing.
  2. Choose a loan officer that is available. Is your loan officer prompt in returning your calls and answering your questions? If not, find another one.
  3. Choose a loan officer that is offering competitive rates and pricing. Is the offer in line with market rates? Are there origination fees and discount points associated with the rate?
  4. Choose a loan office that will lock your loan the rate. Did your loan officer lock your rate in so that it will be there when the loan closes? Did you receive a lock confirmation?

Call Lee Barroll at his Brentwood office: 615-938-7504 or email lee.barroll@fcmhomeloans.com for more information. Lee is based in Nashville, TN but can serve then entire state of Tennessee.

Visit our mortgage rate page to see how to secure the best TN home lending rates.