The Importance of Speaking with a Loan Officer on Your Home Buying Journey

Published on April 4, 2019 under First-Time Home Buyers

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Technology has made every aspect of buying what you need easier and more convenient. The housing industry is no exception to the trend. Online quotes and digital mortgages can make your dream of home ownership seem closer to a reality than ever before, but the information you receive can be deceiving.

You may have no problem getting approved electronically for a home loan. However, that doesn't necessarily mean you should jump right in with both feet. The ability to afford a monthly payment isn't the same thing as being comfortable with a payment plan. A loan officer works as an advisor who can help you understand the language, discover all of your options, and negotiate the best deal.

A home purchase is undoubtedly one of the biggest purchases you will make in your lifetime. It's not something you want to take lightly.

Benefits of Meeting with a Loan Officer

A loan officer can offer you important advice regarding your house search and loan opportunities. A loan officer has a complete understanding of financing options, payment schedules, and the language of contracts. This knowledge translates to a home buying experience that is tailored to your lifestyle. Communication with a loan officer can provide you with these benefits:

  • A personal connection. A loan officer asks questions about your history and plans for the future. Your answers to these questions are a vital part of the process to determine the best mortgage options for you.
  • Translation. Even the most basic loan agreements are difficult to understand. A loan officer has a clear understanding of these terms and can help you negotiate the best deal.
  • Authority with sellers. When you come into the buying process with a loan officer on your side, sellers understand you are serious about your intent to purchase. A pre-approved loan offer is a promise to sellers that unanticipated problems are less likely to come up before closing.
  • Faster closing. The lending process is filled with unexpected problems. Closing costs consist of more than a down payment. Your loan officer will prepare you for the costs and can offer alternatives to unexpected issues to keep your (and your seller's) schedule intact.
  • Continued communication. Paying a mortgage is a long-term process that isn't finished at closing. Your loan officer will keep in touch to answer any questions or help you navigate unanticipated changes.

Multiple Forms of Communication

As millennials enter the housing market, it's no surprise that they expect the convenience of virtual technology. However, younger buyers also prefer the security of speaking directly with a person. Direct communication can relieve anxiety for first-time buyers who want questions answered in real time. Continued communication with a real person allows the borrower to ensure the process is on track and can help a homeowner navigate life changes that may affect their ability to continue payments.

Technology is still a vital tool in the loan process. Half of borrowers seek virtual availability when choosing a lender. Electronic options like online portals and applications are considered a necessity. Digital tools can also offer customized options to make communication with a loan officer more convenient. The ability to combine modern technology with the personal communication provided by a lending officer offers buyers the best of both worlds. As millennials enter the housing market, these options will become an expectation instead of a convenience.

The details of your mortgage will affect your life for years to come. A personal human connection can expedite the buying process and relieve the uncertainty so you can enjoy your new home. If you are searching for your dream home and considering mortgage options, contact us today to speak with a residential loan officer. First Savings Mortgage loan officers specialize only in residential lending, making the details of your home loan a priority.

Contact an Expert Loan Officer