What to Look for in a Good Lender

Looking to buy in Greater Lansing?  Perform a full home search

 Looking to sell in Greater Lansing? Get a Home Price Evaluation

In the search for a good lender, it is important to first identify some of the reasons to avoid a bad lender.

Recently, we had a couple of clients who didn’t use the lenders we recommended. They wanted to save a couple hundred dollars and decided to use big-box lenders. As a result, we ran into situations where they had not requested the items that were needed to complete the file in a timely fashion.

When we got to underwriting, we had to seek extensions from the seller in order to get these materials and complete the transaction. Big-box lenders often lack a sense of urgency that smaller, local lenders have. Good lenders want you to complete your paperwork as quickly as possible.

Another problem is that big-box lenders are not always available. The real estate market can be volatile, and changes require an immediate response. That means you might need to get a hold of your lender on a weekend. Big-box lenders are often unavailable from Friday at 3 o’clock until Monday morning. The lenders we work with are always available.

So, what are some other things that make a good lender? 

“

A good lender will be available to answer any questions and help you meet your timelines.

”

First and foremost, they are easy to get along with. You should have a good relationship with your lender. They’re going to be asking you a lot of personal questions about you and your family and your financial situation. With this in mind, you want to work with someone who is kind, courteous, and professional. The lenders we generally recommend are very timely in their response.

A good lender is also proactive. A good lender has the experience to know what you’re going to need to make your transaction happen, takes the initiative to prepare documents, and has them ready to go, when possible before you’ve specifically asked for them.

Finally, they have a good sense of timeliness and urgency. A good lender knows that you want to get into your new home as soon as possible, and will put forth considerable effort to meet your timelines. If you only have five weeks to close on a home, they will make sure that you meet that deadline.

If you have any other questions about buying a home or need a referral to a lender, just give me a call or send me an email. I would be happy to help you!

Why Joel Sodeman Enjoys Being a Buyer’s Agent

Joel Sodeman is our buyer’s agent and today, he reveals one of his favorite things about the job.

Looking to buy in Greater Lansing?  Perform a full home search

 Looking to sell in Greater Lansing? Get a Home Price Evaluation

Today we’d like to introduce you to Joel Sodeman, our buyer’s agent.

“My favorite thing about being a buyer’s agent—besides when we close and they get their keys—has to be the first time they realize I work for them,” says Joel. “Often when you call a listing agent, they take you through the house trying to really sell the house. They tell you all the good things.”

When you work with a buyer’s agent, they work in your best interests, not the sellers.

“I’m there to work for you,” says Joel. “As we walk through [a house], I’ll say, ‘I think there’s some water damage here. There might be two layers of shingles on the roof.’ Or when we go to the basement, I’ll say, ‘This furnace is old.”"

“

Joel wants you to find the perfect house.

”

Joel is not there to sell the house. He wants you to know exactly what you’re getting into. “I’m not there to push a house on them. I want you to find the perfect house. I have three teenage daughters, and I always say, ‘I wouldn’t put you in a house I wouldn’t put my own kids in.’”

If you are interested in working with Joel or you have any questions about our current market, give us a call or send us an email. We would be happy to help you!