Hey, everyone...hope you're having a great start to your day! Wanted to vent/shed some light on something that is so important but often times executed so poorly and that's communication. It's obviously a simple concept.

I'm a lender & I'd be the first to say that if I'm not communicating well on my end then that's obviously unsettling for the borrower whose trying to navigate their pursuits wanting to have clarity on this issue or that issue pertaining to funding. If you have a lender who isn't communicating well, you need to let them know and if the problem doesn't change then it is time for a switch. Sometimes that fraction of a percentage point isn't worth an absence in communication.

With that said, it goes both ways. If you find the right lender, they're going to communicate consistently and, at times, maybe even over-communicate. That is usually an indication that they're on top of your potential loan and that you aren't just some generic loan number with no face or name. One thing that can be frustrating is when you're shopping around (totally understandable...you need to shop around!) or unsure whether you're going to do the deal and you go radio silent...Any good lender obviously wants your business but hopefully also knows what it is like to be a human being looking for the best deal and shouldn't fault you for trying to find that. I might try and make sure you understand what we have to offer but I'll never fault you if you go in another direction...Just tell me!!! Someone who is going to give you a nasty response isn't worth your time. I much appreciate people just telling me so I can best devote my time as opposed to stringing it along out of concern for the response.

MOST IMPORTANTLY, do not be afraid to tell your lender about challenges or road bumps that arise. DO NOT WAIT UNTIL THE LAST SECOND!!!!! The right lender isn't going to run at the first sign of trouble. They're going to use their experience in handling all sorts of different situations and try and come up with a solution. Remember, the good lenders do not want to take properties back so they are not going to just pull the plug because your particular property isn't going perfectly. Lenders either can't help you or are limited in how they can help you when you wait until the last second to let them know of a potential problem!

Just wanted to share. Have a great day!

Birmingham, Alabama

3 Votes