Signs of a Bad Mortgage Lender

When you deal with a mortgage lender you expect that they will treat you with the best quality that you could possibly get. Unfortunately there are times when you can come face to face with a bad mortgage lender. These people are only looking to get the best deal for themselves and they could cause you a lot of harm in the process. The following are some signs that you might be about to engage a bad mortgage lender. Always act in a way that will help you the most. Do not worry about hurting the lenders feelings because they will always look out for themselves. The key is to find a lender that will also want to help you.

"We Handle More Mortgages Than Anybody Else!"

This is a quote that you might hear on television or radio. The lenders will be so happy that they handle record amounts of mortgages and they want you to know about it. Sure, they will probably have some experience but you also need to think about another thing. If they handle a lot of mortgages then you would have to assume that this is a very impersonal process. How much time are they willing to spend with you in order to make sure you get the best deal? They might be too busy worrying about the rate at which they handle mortgages to go over the details with you. You do not want someone who treats you like a member of the pack.

Do They Tiptoe Around Fees?

If a company does not address the issue of fees then this is a problem. This means that they want to lock you in before you even worry about fees. This means that the fees are high and they want to throw as much positive information at you before they hit you with the bad and more negative information. Honest lenders will answer your questions about fees and they will make sure that they address the issue upfront. You should not be held in suspense about what you will be paying. If you are then that is probably a sign that you are about to pay a lot more then you truly wanted. If they tiptoe around fees then you should find yourself a new lender.

Thinking They Know What is Best

Are you going to a lender to get a mortgage for yourself, or do you want to help them get a mortgage? Obviously you are going in for yourself, which means that your needs are what is the most important. Sometimes lenders will think that they know what is best for you because this is their business. Only you know what is best for you, which means that you need to make the final decisions. Sure, you can listen to the lender and gather some information and ideas, but in the end you need to make sure you only sign on with them when you are ready. Get all your questions answered and make sure that you are the one who is in control of the entire process. This is how you will know that you are completely happy with what is going on.

Additional Resources:

• Mortgage Rates Edge Slightly Down