Why Choosing the Right Loan Officer to assist you is a must in Phoenix Area

What are the reasons that make choosing the right loan officer to assist you in the Phoenix area? Here are some tips you need to know about getting the best loan officer to help you get your business going!

  • Do not choose a broker who does not have any knowledge of lending.
  • You should ask for references from previous clients and check them out.
  • Ask questions about their experience in the industry.
  • If they offer you free consultations, take advantage and go through these sessions. This way you can determine whether this person is someone you want to work with.
  • Take note of what kind of service he/she provides. Does he/she provide everything you need or just a consultation? Also, how much time does he/she spend on each client?

Find the right loan officer for you 

Finding the right loan officer to work with can be difficult. There are many factors that determine if you should choose to use a particular lender. Some of these include but are not limited to; your financial situation, how much money you need, what type of loans you want to get, and who is offering the best interest rates. This article provides some tips and tricks on choosing the right lending institution. 

  1. How Much Money Do You Need?

First off, let’s talk about how much money you need. Lenders typically have different minimum requirements depending on their loan programs. However, most lenders require at least $15,000 to qualify for a home equity line of credit (HELOC) or $50,000 for a mortgage. If you need less than this amount, then you may not even have access to a lender.

If you have a higher amount of cash flow, then you may get approved for more than just a HELOC or a mortgage. You could potentially get approved for a personal unsecured line of credit (ULC). A ULC allows you to borrow any amount from the lender without having collateral. These types of loans tend to have lower interest rates than a HELOC or mortgage.

If you don’t have the exact amount of money needed, you can always pay down debt to increase your available cash. You can also look into various financing options such as a secured card, a private student loan, or a refinancing option.

  1. What Type of Loans Should I Get?

Depending on what you want your loan for, you might qualify for a personal loan, a home improvement loan, a car loan, or a student loan. Each type of loan offers different benefits, so it’s important to understand what they are before you choose one.

The Right Loan Officer Near Me

As an officer at Citywide Home Loans, Stephanie Simpson takes on the responsibility of making sure the mortgage process is a pleasant experience for you. We’re proud of Stephanie’s excellent customer service and how she always strives to keep in constant contact with her clients, realtors, and referral partners.  The entire team at Citywide Home Loans (NMLS# 1991185) is committed to providing responsible, honest, and ethically sound services in every step of the project.

Contact them today at (773) 207-5388 located in Scottsdale, AZ 85260.

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