How I Chose My Lender
Early in my homebuying process I decided to work through my local housing finance agency for a specific financing program. This meant I could essentially work with any lender who was participating in the program and get the standard rate and options regardless of which company. The Economic & Strategic Research Group at Fannie Mae recently conducted a study on mortgage shopping and found that one-third of people do not shop around to multiple lenders for a mortgage.
Although it would not necessarily affect my financial outcome, it was very important to me to find a lender that I felt comfortable working with throughout the process. The last thing I wanted to do was make the most important financial decision of my life and feel completely unsatisfied after because I didn’t get the attention I deserved from my lender. It is like going to buy a car and being ignored or treated unfairly before you even have an opportunity to test drive anything, an experience I recently had.