Lenders exist to loan people funds. Money that can be used to close on a home, start a small business, make renovations to a property, etc. However, lenders don’t loan money to just anyone, and securing a loan requires you to prove that you are creditworthy.
This process will invariably mean working with a loan officer, whose job is to determine which would-be borrowers are eligible to move on to the next step in the process: mortgage underwriting.
Working with a Loan Officer
As you work with a loan officer you’ll be expected to provide some documentation, to complete some paperwork, and to offer truthful information about your financial history. You may feel like you are under the loan officer’s scrutiny—and to some extent this is true—but the important thing to remember is that your loan officer is also someone who is knowledgeable about loan products, and can help you get the one that’s best for your needs.
As such, you should look for a loan officer who you feel comfortable working with, and someone who will get to know you and guide you through the different loan options. You want to work with someone who is dedicated to helping you find something that meets your particular financial needs.
The Role of the Loan Officer
Of course, you may have heard about how computer algorithms are doing more and more to qualify potential borrowers, such as reviewing paperwork without the need for human oversight. These reports are somewhat blown out of proportion though, as mortgage officers are still critical to the process. Human decision-making is still important in determining which people make eligible borrowers. You might consider loan officers to be the first line of screening, before the algorithms come into play.
Contact a Loan Officer from Loan Fleet
Your loan officer is someone who will be an invaluable ally to you throughout your house hunting and closing process, and possibly someone you’ll work with in the future. That’s why more and more borrowers prefer to work with smaller, independent loan companies like Loan Fleet.
We can give you the personal attention you desire, and help find a loan product that truly meets your needs. We invite you to begin the process today by reaching out to us directly. Contact us to get to know one of the loan officers who works here at Loan Fleet.