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What to Look for in a Mortgage Lender as an Immigrant into USA


You have been working really hard for many years making of America your home, and you have been adapting to new ways of living, now you are ready for another step into the American dream. Buying a house is one of the most important investments people make. Investing in a home improves your sense of security and it also helps your financial growth and stability in your new country. But there are too many factors one should consider when buying a home, especially if it is your first home and you have no experience in the subject. The first and most important step is to find a great lender you can trust and can give you all the accurate information you will need to make the best decision for your biggest investment. Here are the most important things you should look for when trying to find a good lender:


There are many options when looking for lenders, the most common way to find a good loan officer is through word of mouth, asking your family and friends for recommendations is the best way to find a lender, if your friends and family had a good experience you will probably be satisfied as well. Therefore, finding a loan officer who understands the challenges in your community is crucial. 2 or 3 lender referrals will be enough.


It is super important to find a lender you can trust as you will need to provide your personal and legal status information to your lender so they can find you the best loan. So looking for a trusted lender in your community is a good idea. Another reliable source of referrals is your bank or credit union, they can let you know what loan options they have available or If you are working with a real estate agent you can ask them for recommendations of lenders that have a reputation of making the buying experience smooth and closing on time.


A good lender will be honest from the beginning of the transaction and will not over promise. Once you provide your IDs, W2s, paystubs, taxes and you authorize them to check your credit, they will be able to letyou know how much home you can afford and what to expect during the purchase process.

Communication Style

You will need to rely on your lender to keep you up to date about the process. A lender with great communication skills will be your best partner during this transaction, so make sure you can communicate with your lender on your language of choice and also in your preferred method. Do you feel morecomfortable texting? Meeting in person, Emailing or calling your lender? Let them know! So you both can communicate with accuracy and speed.


Look out for ratings on line and in their social media. A good lender must try to make the transaction as smooth as possible and satisfied customers are always happy to leave a good review.

Ask the right questions

When you get a referral, ask the other person, how difficult was the process? Did the transaction close on time? Or were there any issues at the last minute when closing? Did the person get detailed loan information? Was the lender polite and respectful? Did the lender got back to them in a timely manner? Many new borrowers only worry about the down payment and the interest rate. But remember thereis more to buying a house, so you need a lender that is reliable and will give you information you will understand.

It also helps to get familiar with the loan process and the specific language they use when explaining to you theprocess and the choices you will have for your investment. You can find information in English and Spanish inmany reliable websites. The Consumer Financial Bureau is one of the most reliable and easy to understand websites with lots of good information for buyers. To browse their website go to Here:

The National Association of Hispanic Real Estate Professionals has really useful glossary that translates andexplains the most used terms in Lending and real estate, to find it, please go to Here:

So get ready to do your homework!

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