Kellie Streeper
Kellie Streeper, a mortgage lender at Midwest BankCentre, says there are three main areas someone should look into when selecting a lender before buying a home.
She said potential clients need to know what type of loans the lender has available, what fees will be charged and what interest rate they offer.
“First you need to do your research on lenders to see who they represent, their reviews, how long they have been in business and what loan types they offer,” Streeper said. “Then narrow it down to two or three lenders to compare because after that, it can become overwhelming.”
She said when shopping for the best deal, clients need to look at what lenders charge for their service. She said most costs, such as title fees, will be the same, and the difference will be what lenders charge.
“There are many junk fees out there,” said Streeper, who said junk fees may include charges for underwriting or employment verification. “A good lender will not charge them.”
She said it is critical to know what a potential rate will cost you.
“While one lender may offer a lower rate than the other, sometimes it’s too good to be true,” Streeper said. “Usually, an origination fee or points is a good sign you are paying for that rate.”
After considering those points, Streeper said it is important to have a comfort level with a lender.
“A lender has to understand your needs and goals,” she said. “Your loan officer should be your trusted financial partner you return to for advice and consultation. At Midwest BankCentre, we want to be your first time and forever mortgage provider.”
For more information, call Streeper at 314-631-5500 or go to midwestbankcentre.com/mortgage.
