Where can you find the best local mortgage broker for your next Seattle home loan?

Finding the right local mortgage broker can make all the difference when it comes to your next loan. It’s not even just about getting funded on time, or the best interest rate, but the best mortgage deal which fits your personal situation and future goals. So, how do you find the right match for your Seattle mortgage?

Getting A Mortgage: Why Go Local?

There have often been a wide spectrum of funding sources available to mortgage borrowers. While these expand and contract with the market depending on the economy, in the past they have included regional banks, niche credit unions, national mortgage lenders, conduits for international funds, and local mortgage brokers.

Being able to access a whole world of capital can greatly help local communities and cities to grow. We’ve certainly seen this in international investment in Seattle, WA in general.

However, there can be huge differences between local and far away mortgage lending when it comes to actually going through the loan process.

Obviously, there is some great confidence and peace of mind to be found from doing business locally. At least you know there is someone you can go and grab a hold of and hold accountable if things go wrong. Versus only reaching customer service on the phone overseas. This is true even if you do choose to never meet in person, and simply do business with someone down the street via Facetime and email.

However, there is an even more meaningful difference too. This is that local mortgage professionals get the local market. They understand the quirks of the local property market and properties. They understand the values and landscape. This not only makes it far easier to get your home loan approved and to make it through the closing on time, but also typically means the best mortgage rates and highest loan amounts, with the least hassle.

Where To Find The Best Local Mortgage Brokers

There are two main ways to find the best local mortgage brokers today.

1. Google

Whether you use your phone, smart home device, ask Siri or Alexa, or go right into searching on your desktop, Google holds a lot of answers for everything today.

It’s not perfect, and you might still have some filtering and verifying to do, but it can be one of the fastest and easiest ways to start your search.

Go to Google and type in “Best Seattle Mortgage Broker.” Skip down past the scammy ads, to the real organic results from actual local mortgage lending companies.

Make sure they have legitimate looking websites. Then check out their online reviews. Overall, what are others saying about their experience working with them? How have they responded to reviews or any complaints?

2. Referrals

Referrals are great. If you know others who have recently taken out a home purchase loan or refinanced their home, ask about their experience.

Stay clear of those they had bad experiences with. Check out those who delivered on what they said upfront.

If you don’t have any local friends, family, or connections, then ask some of the most trusted local Realtors, insurance agents, real estate lawyers, home inspectors, and title companies.

Just be sure to weigh their advice with any bias they may have. Such as referrals fees or their company forcing them to refer to in-house lenders as is common with many real estate brokerages.

How To Choose The Best Local Mortgage Broker

How do you make sure you are really picking the best Seattle mortgage broker for your next refinance or home purchase?

Do They Offer What You Need?

Sometimes ‘best’ comes down to what you need at the time. Do you need a high LTV loan? A low down payment loan? How about a loan for less than perfect credit or high DTI ratios?

Maybe you need a second home or investment property loan, jumbo mortgage, or loan for a non-warrantable condo.

The problem with a lot of lenders is that they offer very few loan options. They want to squeeze you into their tiny little box. Or charge you extra interest and points when you don’t. Or you’ll just get turned down for a loan right as you were counting on getting the money. If you have to go from lender to lender like this you can waste months and destroy your credit with inquiries in the process.

In contrast, the best local mortgage broker will be able to evaluate all of the possible mortgage loans, features, and programs on your behalf, and match you with the best deal, and at wholesale rates.

Long Or Short Term Thinking?

Do they come across as long or short term thinkers? Do they just want to get in all the applications they can with big promises so that they can make money today. Or do they care enough to get to understand your unique situation, needs and goals, to match you with a truly great fitting loan, and in turn ensure they are around for the long term when you may want their help again?

Corporate Brand Vs. Individual Loan Officer

It’s important to hone in on who the exact loan officer who will be managing your loan application is. Phone apps, online loan applications, and virtual closings are all great. Yet, in the mortgage business, success in getting a loan and getting it closed still very much relies on humans.

Your individual loan officer will make all the difference. So, are you going to choose dealing with a long line of random people in a call center far away? Or a local expert who will be your personal contact throughout the process, and even afterwards when you have more questions?

Interview them. Feel them out. Do they care? Do they have the length and volume of experience it takes to get great at getting loans approved?

About the Author

Helping Seattleites buy their dream homes for over 15 years. Founder of Seattle's Mortgage Broker and author of Homeownership Simplified: The Truth about ZERO Down.