Image by Gerd Altmann from Pixabay
Picking a private lender is a big decision. After all, they’ll be handling a loan transaction for you (not to mention managing your loan for the term of the loan-note.
Want to make sure you choose right? Here’s how:
• Is the company a member of the Better Business Bureau (BBB)?
• Read reviews on the lender you are considering. Check with the Yelp and Google.
• Compare rates and closing costs. Make sure you’re comparing the same things, too.
• Look beyond costs. Consider their reputation, time in business, average closing times and even how easy/digital their process is.
If you have a realtor agent, make sure to ask him/her, too. They’ll know many lenders in your area and it never hurts to get different bids.
