I'm looking to refi my mortgage. How do I know that a company is reputable? Do I need to check with the Better Business Bureau?
Answers | 1
You could certainly check with the BBB once you have a lender/lenders in mind, but initially, I'd be looking at individual loan officers' ratings on sites such as this, Zillow, Trulia, and Mortgage News Daily. Of course, a referral from a satisfied family member or friend is always a great place to start as well. The point I make to all my potential clients is that while lenders' rates/fees/programs will vary somewhat, the expertise/dedication/motivation of your loan officer may vary greatly. First and foremost, loan officers provide service and advice to their customers, hopefully making the loan process predictable and surprise free. I've had many realtors come to me with delayed closings due to circumstances that weren't handled well by other lenders. That's certainly not something anyone (whether buying or refinancing) wants to deal with! Hope that helps, Ted