Lenders are not interchangeable. One responds in hours and explains in plain English, another takes days and surprises you at closing. This guide shows how to compare lenders fairly and work with yours for the whole transaction.
Wiz's tip
Rate shop within two weeks; multiple credit pulls for the same purpose in that window count as one inquiry for scoring. Speed the shopping, keep the score.
Compare more than the interest rate
The rate is the headline, but the Loan Estimate tells the whole story: origination fees, points, appraisal, title, and cash to close. Compare three lenders on the same loan amount, program, and property, at the same time, within the same week, so the quotes are apples to apples.
Questions to ask every lender
Which loan programs do you recommend for my situation, and why? What is the cash to close on the estimate, line by line? Can you lock the rate, at what cost, and for how long? What is your response time for buyers under contract? How many closings did you run on time last year? The answers reveal which lender will get you to the table without drama.
How Michael fits in
Michael is not a lender. He is the advisor who works beside yours: explaining the documents, coordinating the timeline, and making sure the financing never surprises the transaction. He works with lenders he trusts, and he will tell you honestly when a client and a lender are a fit.