How to Pick a Mortgage Lender in Portland Oregon.

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How do I pick a Mortgage Lender in Portland?

There are three basic choices when you are ready to find a lender for your Portland home.

1. Brick and Mortar bank: This refers to a Wells Fargo, US Bank, Chase, etc. that has a local presence and services the public’s checking and savings and well as many of their loan options.

2. Credit Union: Similar to a brick and mortar bank, these banks provide all encompassing financial services, but they are non-profit institutions and tend to provide a higher rate of return for their members (instead of their stockholders).

3. Direct Lending Mortgage Company: These companies focus exclusively on real estate lending. They often have a physical location, but not necessarily (like Quicken Loans). They also fund their own loans.

Advantages and Disadvantages:

Brick and Mortar: No advantage outside of the fact you may already be banking there. Generally speaking the customer service and rates are comparatively poor.

Credit Union: Because they have a personal relationship with their members, sometimes credit unions can offer better loans than anyone else. However, the customer service is generally poor. I’ve missed a lot of closing dates because the credit union couldn’t service the loan fast enough. They have small lending departments and often are overwhelmed and understaffed.

Direct Lending Mortgage Company: This option receives my highest recommendation. Not only do they have the most loan options, they often have the best. On top of this, they tend to provide the highest level of customer service, something that is very important when the closing date (and your loan rate-lock) is on the line.

I’d be happy to recommend a Portland lender to you today. I’ve built a number of powerful customer service relationships to assist me in providing the best possible customer service for all my clients. Let me know if I can help.

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When my wife and I decided to sell our home we started to search for agents who work for less than the 6% standard commission. Slightly skeptical, I decided to call Stephen for a consultation. Stephen came very prepared with comp sales, marketing techniques, and several other items pertaining to the sale I never would have considered. We sold in six days.

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