How to Pick the Right Lender for San Diego Real Estate

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Let's talk for a moment about how to pick the right lender when dealing in San Diego real estate.

Referrals and word of mouth are the best way to pick out a lender. Your friend, family member or coworker probably used the lender they're referring to you, and they have a great track record. Experience is very important as well. You don't want to work with someone new unless they have the right mentor helping them out during the loan process.

You definitely need to consider company reputation when looking at lenders, especially for customer service. You want to work with someone who will make the transaction as smooth as possible, because it's very complicated with a lot of moving parts.

Next, you want to check the GFE (Good Faith Estimate), which is how much a lender will charge for a loan. Sometimes, an extra hundred dollars here or there will make a big difference in the end, especially if you're buying with very little money down.

Do not skip the home inspection.

Lastly, look at the results! Will this lender give you a pre-approval or not? If he or she won't give you a pre-approval, move on. There are other lenders in town to choose from. When I was personally trying to buy a home, one lender didn't approve me, but I didn't give up. The next lender I went to approved me.

If you have any questions or concerns about the lending process, I'd be more than happy to share my insight with you. If you're interested in learning more about the buying and selling process, don't hesitate to give me a call or send me an email. Let's talk soon!

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