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Find the Right Mortgage Company — It’s Worth the Effort

Advice from UFCU’s #1 Mortgage Loan Officer, David Medrano

Advice from UFCU’s #1 Mortgage Loan Officer, David Medrano

The home-buying process can be very overwhelming, and rightly so. Considering your mortgage debt is probably the largest debt you will acquire in your lifetime, the process should not be taken lightly. You spend hours searching for the perfect home. How much time and attention do you dedicate to finding the right mortgage company and loan officer?

Most people focus on finding the lowest rate or the lowest fees when they’re looking for a lender, and those details are certainly important. But we recommend asking yourself two critical questions before making your final decision:

  1. How stable and reputable is the mortgage company?
  2. Do you feel confident in the experience and integrity of the loan officer?

The answers to these two questions can make or break your mortgage experience. The guidance provided by the loan officer under the leadership of the mortgage company overall can significantly impact not only your home-buying experience, but the future of your financial health.

You spend hours searching for the perfect home. How much time and attention do you dedicate to finding the right mortgage company and loan officer?

There are three main questions you should ask when interviewing a potential loan officer:

  1. Are you and your team local?
  2. How strong is the company you represent?
  3. How long have you been a mortgage loan officer and what sets you apart from other loan officers?

If they aren’t willing to go the extra mile for you, then you may want to move on to another loan officer.

We’re proud to share the recent success of the UFCU Mortgage Services team. Our loan officers helped over 2,200 families buy a new home or refinance their current one in 2015. And we’re honored to have been named Austin’s number one mortgage company by the Austin Business Journal (ABJ). The reason for our success is simple: We put our Members first. Behind every loan we process, there is a Member. And our mission is to provide for the well-being of our Members.

So we interviewed our top loan officer, David Medrano, in hopes of sharing some of the strategies that have successfully guided so many Members to home ownership.

David was just named Austin’s second highest performing loan officer by the ABJ. Here are David’s recommendations for a successful home-buying process that should keep you on track for a healthy financial future.

What Should I Expect of Someone Guiding Me Through the Mortgage Process?
It is crucial that you work with someone who is truly a resource for you. I believe you should expect knowledge and experience, responsiveness, business savvy, and a solid business ethic. As an example, you wouldn’t go on a river rafting trip with an inexperienced guide! Neither should you go through the mortgage process without an expert mortgage guide on your side.

Is the Mortgage Loan Rate the Most Important Criteria for Choosing a Lender?
While of obvious importance, I truly believe there is so much more than rate that determines a positive mortgage experience. I treat all of my clients’ loans as if they were my own loan. With this in mind, I determine the best loan fit and the best loan term and then work with our team to ensure a smooth closing process from there. When you approach it in this manner, everything else, including rate, falls into place.

How Long Should the Process Take? And What is My Part in the Process?
From start to finish, the process should be smooth and efficient. The pre-qualification stage takes a few days at most, and the closing process at UFCU is guaranteed to be complete within 30 days of the acceptance of your offer. There are lots of moving parts within that timeframe, but we will guide you and let you know exactly what we need from you to get you to the finish line.

Do You Have Any Final Advice for Someone Considering Buying a New Home?
Don’t be intimidated by the process of buying a home. It’s a big financial decision and it may seem overwhelming at times, but it is achievable. We are here to help so use us as your resource. Everyone deserves the advantages of home ownership.

Call Austin's #1 mortgage team at (512) 997-HOME (4663) or (800) 476-8409.