It is so important to select a good lender! When folks first get in touch with me, many of them have been in touch with a lender, but are still waiting on their preapproval to come in... You should be able to get preapproved in about a day. And, it is essential that you get preapproved before you begin your search for your dream home, because often you are not truly aware of what you can get approved for. You might have an idea about what you think you can afford, but are you considering all the factors - how is your credit? Do you have a lot of debt? You can get all of those answers, usually within minutes, from a good reputable lender.
You definitely want to do this through someone who is a mortgage broker. Someone who does this for a living, not just your favorite bank, because a lot of times those banks are not the best equipped to help you move through your financing process. While this may sound counter-intuitive, consider that they also have many other types of transactions occurring daily, and their attention is spread across these many platforms, as well as many customers.
A great resource for identifying good financing options, is in fact, your Realtor. Who does your Realtor recommend? Experience working with a number of different lenders is inherent in our jobs, and we walk away with clear insights into which lenders can make or break our clients' transactions. Take your Realtor's advice! I can't tell you how often we hear people say, "No no, we're going to use ____ bank," and we get all the way to the eleventh hour, and... Guess what? Just as we tried to gently explain, things aren't looking good. Their underwriting doesn't have their stuff together, or they ordered the appraisal late, or you're eleventh in line for something and each one takes three days, or something crazy ridiculous like that.
You want to use somebody local. Somebody amazing. And somebody that's going to get the job done for you. I have a few people locally, that I can definitely refer you to. And if you have more questions, I'd be happy to go over those with you too!
For now, here are my top local lenders that I know can consistently get the job done, and help you finance your dream home with confidence.
The Peplinski Team, Guild Mortgage
Amy Shockley/Tami Encinas
Homebridge Financial Services
Bank of the Pacific - Anacortes Branch