Mortgage Banking

Making sense of commercial real estate finance.

How to Select a Mortgage Banker

Posted by Jordan Crouch on October 17, 2007

  1. Ask. Ask for recommendations from your friends, colleagues, attorneys, etc. Everyone knows someone. Take someone’s recommendation with a grain of salt. It is still up to you to make the decision. (One word of warning: someone who specializes in residential mortgages is usually not qualified to do commercial mortgages. The residential and commercial real estate industries are two completely different animals.)
  2. Investigate. Make a list of several mortgage bankers and ask the following questions (many answers to these questions can be found online): Are they local? How much experience do they have? Do they specialize in your property type? What lenders do they represent? Who will service your loan? Know what you expect from your mortgage banker and what they expect from you.
  3. Interview. Hopefully, you have talked with several mortgage bankers by now. If you have not, give your top two picks a call. Take the time to meet with them. Part of the success at getting a mortgage is working with people you know, like and trust. It is possible to do business without these, but it makes the process 100% better when you do.
  4. Decide! If you have done your research, got recommendations from others and met with at least two mortgage bankers, you will have all the information you need! It’s up to you to decide who you want to work with. Making the correct choice for your situation will make getting your mortgage an easy and efficient process.
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