Two years ago I was employed as an educator in a large museum in Philadelphia. Then my wife became pregnant with our second daughter and I began to search for a new job. I wasn’t unhappy with my job at the museum but I wanted a job that paid a little more and offered a little more flexibility.

On the advice of a friend I decided to enter the mortgage business. I am now in my second year as a loan officer and feel that if I could share one piece of advice for anyone who is in the market for a mortgage (either for a new home or refinance) it would be this: spend time with your mortgage representative and get to know them on a personal level.

This advice flies in the face of every expert who suggests that business relationships should never become personal. However, in today’s ever-changing marketplace it is important to get to know every person that you entrust to handle your personal business. This includes mortgage bankers and loan officers. Remember, there was a time in our not-so-distant past when important life decisions were often made with members of one’s own community.

Since I’ve become a loan officer I’ve closed dozens of loans, most of which were done over coffee or lunch or at my clients’ homes. I make it a practice to meet with my clients before we ever discuss rates, points, or closing costs. I’ve met my clients on Sunday, at night, at my home, at their home, and even after holiday dinners. And what I’ve found is that in most cases it is the clients that I spend the most time with that are the happiest with my services. This, I believe, benefits the borrower more than it does the lender. So I urge anyone in the market for a loan to do the following before choosing a lender:

Meet with the broker!

My advice is to meet with the loan officer no less than two times before deciding on whether or not to use them or their services. Be sure to schedule the meetings outside of the work environment, whether they are at your home or at a neutral location. Conduct the meeting as if it were an interview, taking notes as you go along and directing the conversation to cover the topics that are important and relevant to you (please do your homework first) and not what they feel is important. Remember that you are interviewing them, not the other way around.

Ask Questions!

Ask questions about their background and education, their family, and their goals. Try to see not only what qualifies this person to handle your loan, but what type of person they are. How do they conduct themselves in public? How do they interact with you in person and is that different than how they speak to you on the phone?

Weigh Your Options!

Shop around for the best deal you can find and don’t be afraid to meet with more than one broker. It is your right to take your time and make an informed decision.

At the end of the day you should be as comfortable with the person selling you your loan than you are with the loan itself. Don’t be afraid to engage and be sure to get to know your mortgage broker.

Brian Riggs
Mortgage Consultant
briggs@e-americanmortgage.com

Brian Riggs works for American Mortgage, Inc. in Mount Laurel, New Jersey. He has been married since 2002 and has two children. Brian graduated from the University of North Carolina in 1997, and received his master's degree from Rutgers in 2001.

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