How to Find the Best Plano Mortgage Lender

While most aspects of the mortgage application process are the same across lenders, certain variations may impact the costs you pay and the loan products available, so comparing rates and lenders is crucial. But how do you find the right mortgage lender for you? Below we discuss what you should look for in a Plano mortgage lender and why Supreme Lending is the best Plano mortgage company to guide you through the home financing process.

Direct Mortgage Lender

Direct mortgage lenders originate and underwrite their loan products with their own money and work directly with homebuyers. Because they manage the entire home financing process, direct mortgage lenders offer borrowers more flexible eligibility requirements and mortgage rates, faster approval and closing times, and more centralized communication.

Different Loan Options and Programs

Selecting the best mortgage type for you is a crucial step in the home financing process. Many different mortgage loan options are available, and each loan has its own qualifications, benefits, and disadvantages. A lender that offers many different loan products will likely have a mortgage to meet your financing needs based on various factors like your credit score, debt-to-income ratio, and down payment availability.

Local Lender 

Working with a local Plano mortgage company has many advantages. Not only is a local lender familiar with the local real estate market, but they also have close relationships with local real estate agents and sellers, increasing the odds that you will find your ideal home.

Pre-Qualification

A  pre-qualification estimates how much you can afford for your home based on self-reported information like your income, assets, and available down payment. It usually does not require a credit check. With pre-qualification, you can better plan your budget and determine which neighborhoods to search. It also shows sellers and real estate agents that you are a serious homebuyer.

Clear Explanations of the Loan Process

For you to make an informed decision, transparency is key in the home financing process. The lender should be able to explain their loan process, rates, and fees in a manner that is easy for you to understand. You can often find this information on a lender’s website.

Why Supreme Lending Is the Best Plano Mortgage Lender

Supreme Lending has served Plano and the greater Dallas-Fort Worth region since 1999.  As a mortgage originator or direct lender, Supreme Lending funds and processes all of our loans in-house, enabling us to tailor our loan solutions to your needs for home financing. We provide a range of financing products, including government, conventional, and specialty loans like FHA. Condos, rental homes, and investment properties can all be financed by us as well.

Whether you’re looking to buy your first home in Plano, Texas, or want to refinance your current house to buy a vacation property, working with an experienced Plano mortgage lender is essential. It is important to look beyond just receiving the lowest interest rate and consider the factors we discussed above to find the right mortgage lender for you.