If you are like many heroes, purchasing a home is one of the biggest decisions you will ever make. The loan officer you select becomes an integral part of that decision. A good loan officer can provide you value and support not just during the home purchasing process but afterwards as well.
Whether you’ve just begun your search or you’re still trying to determine if a loan officer is necessary for your home purchase, here are a few ways loan officers can add value to this vital transaction, at the point of sale and beyond.
Guidance in Reviewing Your Options
While many home buying heroes want to start their search by attending open houses, a more helpful first step can be finding the perfect loan officer. A knowledgeable loan officer can help you set expectations when determining how much you can afford.
While online mortgage calculators can provide a ballpark estimation, your loan officer will be able to work with you to create a much more comprehensive projection. They will delve deep by reviewing your savings, running your credit reports and assessing any other considerations that could affect your housing budget. All of which will ensure the most accurate appraisal of your home buying power.
Your loan officer can also point you toward any special loans you may be eligible for such as FHA or VA loans. Plus, when you work with a Homes for Heroes mortgage specialist, you can save an average of $500 on lender fees if you are a firefighter, EMS, or teacher, or in law enforcement, military or healthcare. Simply register online to speak with a Homes for Heroes mortgage specialist in your community.
Local Market Knowledge
A good lender understands their market, and that can benefit heroes like you by providing insight into what you can reasonably expect to pay for a home in your area.
A lender with local knowledge can also help you prepare to close on your home within the necessary amount of time. For example, in many markets a 50-day closure is common, but some highly competitive markets may require you to close in 30 days or less. Your lender will be able to help by understanding what’s expected in the market and setting pieces in place to help you close in the appropriate timeframe.
A Better Impression for Agents and Sellers
From the moment you begin working with your loan officer, you’ve already started down the path toward being approved for your loan, and the benefits of this can extend beyond the power to make the actual purchase. Being approved for a loan shows real estate agents and sellers that you are a buyer to be taken seriously, and they will be more interested in working with you to close the sale.
This added interest can be especially helpful in a competitive market where your loan approval can help separate you from the competition and allow you to purchase the home you’ve always wanted.
A Smooth Process and Long-Term Trust
When you’re making the largest purchase of your life, you need someone you can trust at your side. The home buying process can be complicated, and having a lender to guide you through the process is invaluable in making the best decisions to benefit your budget and your lifestyle.
Your lender will serve as a subject matter expert, guiding you through each transition as well as answering your questions. This assistance will empower you as a consumer and give you knowledge that will benefit you long-term.
Ongoing Support After the Sale
When you connect with a Homes for Heroes lender, remember that relationship doesn’t have to disappear once you’ve purchased your home. Your lender can provide ongoing support throughout the life of your home. Need to refinance? Contact your lender, they can help. Ready to move again? Your lender will be there for you.
As you begin your partnership with your lender, don’t be afraid to ask questions about what other ways they can help you. It’s always good to know what other options you can explore.
Getting Your Questions Answered
If you’re a hero in the market for a new home and you have questions, we can help. At Homes for Heroes, our passion is to help heroes like you achieve the goal of home ownership. Contact us today to learn more about our programs and to see how Homes for Heroes can support you. To date, we’ve helped more than 38,000 heroes buy, sell or refinance a home and we can’t wait to help you too. Contact us today.