Preparing to buy a home or refinance an existing mortgage? With so many things to consider, the process can seem daunting, but it doesn’t have to be. Learning mortgage basics and partnering with an experienced lender will make a world of difference to your transaction experience. Start here, with our straightforward mortgage resources. Our navigation sidebar is your jumping point to indispensable mortgage tools and knowledge. In these sections, you will find essential information, useful materials, and steps to getting started.
Choosing a lender
Finding the right lender is crucial to simplifying the mortgage process. It is important to partner with a responsive and approachable company, but what else should you consider?
- Reputation. Browse testimonials, mission statements, and accolades to learn about the lender's customer service track record. Also consider that independent companies (like Apex) often offer face-to-face customer interactions uncommon at large lenders.
- Credentials. Word of mouth is one way to find a great lender, but it shouldn’t be the only influencing factor. Verify that the lender is accredited, and learn about any additional qualifications staff members may carry. The large majority of the Mortgage Bankers at Apex, for example, have earned the prestigious Certified Mortgage Planning Specialist (CMPS) designation. Many of our Mortgage Bankers have at least a decade of experience in the industry.
- Flexibility. Lenders affiliated with big banks are often tied to one particular set of loan products, and may not be able to give you the loan that best fits your needs. Independent Mortgage Bankers, like Apex, offer the diverse loan offerings of a mortgage broker and the efficiency of a big bank.
Terminology and technical details, simplified
Don’t go into your mortgage journey blind to the costs, efforts, or the preparation required. Make it easy on yourself by taking advantage of our Guide to Home Financing. This is a great starting point that can help you:
- Evaluate loan options equipped with the proper vocabulary. The glossary of terms in our Guide to Home Financing will keep your eyes from glazing over when the word amortization is uttered. We promise.
- Learn what you will need. The documentation checklist can help prepare you for the pre-approval, application, and refinance process.
- Refresh your understanding of the fundamentals. Review common loan terms and types so that you can assess their finer points.
What should I expect throughout the mortgage process?
Once you’ve chosen the best lender for you, the loan process begins. Expect to:
- Confer with your loan officer about your credit and loan options.
- Provide up-to-date financial documents to the lender.
- Receive an accounting of the costs associated with your financing.
Learning the specifics of your lender’s loan process in advance is crucial. At Apex, we keep our clients informed every step of the way, providing open lines of communication and up-to-the-minute timelines. Check out our efficient mortgage process with our Purchase or Refinance Flowcharts.