Need A Lender?

Mortgage Lender with Laura Hill at Local Katy Realty
Finding the right mortgage lender is critical!



















Need a lender? Let’s face it, when you will be paying for a mortgage for 15, 20 or 30 years, it’s very smart & necessary to shop around to find the best mortgage lenders out there. You have to do your homework. It’s like preparing for a job interview, you need to find out information, good & bad, about which mortgage lenders are reputable & more importantly, which ones are not. The good news is the Information Highway provides immediate reviews, rates, status, history, etc. to help you make that critical decision to choose the right mortgage lender.

Lenders – two things that make up a great real estate transaction is an informed, experienced Realtor & lender. Without both of these parties, you will experience turmoil throughout the complex transaction through at least one or most of the steps.

1st  Step – Get pre-approved from a lender. This does not lock you in with that lender. You can always find someone else later if that is your wish, but this gives you a price range to start looking for your new home.

2nd  Step  After finding your lender, you need to provide all of your financial information going back 2 years. For a list of financial items, goto:

Can your financing fall through after you’re pre-approved? Yes.

Lenders want to see that you are in a stable financial position which translates into you being a low risk borrower. Below, you will find the most common reasons why financing falls through.

  1. Incomplete application.
  2. Interest rates change.
  3. Recent job change and/or the history of your employment.
  4. Credit score changes.
  5. Too little amounts in the checking & savings account.
  6. Purchase of a large financial item such as an automobile, during this approval process.

Remember, all lenders are required to follow government & banking systems guidelines. They are working for your transaction to go through, so provide complete information & respond quickly with any & all requests so they can help you get your new home. It should be a team effort.

When it comes to finding the right real estate agent, there is none better than a Realtor like Laura Hill at Local Katy Realty who cares & fights for her clients.