Keller WIlliams Luxury Logo
Home » A Good Lender Makes All The Difference

A Good Lender Makes All The Difference

by | Jul 22, 2014 | Financing | 0 comments

The lending landscape is tighter than ever even though banks are showing record profits once again. I can understand why lending institutions are being cautious not wanting to fall into the same trap again, but someone has to tell them that they have swung the pendulum too far in the other direction. It’s time to come back to center.

That’s why I am writing this week’s column on how important it is to have the right lender. This guy or gal can and will make all the difference in a successful transaction that closes smoothly. Here are a few tips:

1)      Find someone local. I can’t tell you how many times buyers have gotten in trouble by using an out-of-state lender. It’s imperative that the lender knows Colorado, its real estate laws, policies, and procedures. Local lenders know neighborhoods, values, service providers and yes, Realtors. If you still are not sure why this is number one, call me and I’ll explain further.

2)      Interview your lender and make sure that they know their stuff. A lender that is up-to-date on all the latest changes, guidelines, laws, and rules will save everyone money, time, and aggravation.

3)      Get references and more. Chances are, you stumbled upon your lender from a referral which is generally a good way to go, but then you need to check them out. Ask for references, check with the Better Business Bureau, check with the state real estate commission, and heck, even do a background check on them.

4)      This business is all about the “Three D’s:” dates, deadlines, and documentation. If your lender is on the ball, keeps you ahead of the dates and deadlines, and helps you with the documentation, then you’ve won more than half the battle.

Finally, trust your instincts when selecting a lender; make sure you feel like you have good rapport with them and follow their advice. Remember that this should not be an adversarial relationship. The lender should really be trying to help you.

Dan Polimino is a Broker/Owner with The Hawaii Team, Keller Williams Realty Maui. Contact Dan at 808-913-0899.

 

Recent Posts

So, You Want a Place on the Ocean?!

So, You Want a Place on the Ocean?!

By Dan Polimino Of course you do! I was meeting with a client at a local eatery and he said to me, “It’s always been my dream to have a place in Hawai`i right on the ocean.” And why not? I mean, it’s one of the reasons why you would move to Hawai`i or own a second...

read more
September 2025 Featured Restaurant & Activity

September 2025 Featured Restaurant & Activity

Featured Activity: Atlantis Adventures Submarine Tour Discover the magic of Kona’s undersea world while diving over 100 feet beneath the sea in an eco-friendly, 48-passenger submarine. Learn about Kona’s marine mysteries in the air-conditioned comfort of this Coast...

read more
July 2025 Sales Statistics for the Big Island West Coast

July 2025 Sales Statistics for the Big Island West Coast

July real estate activity continued to be slow in the resorts along the Kona-Kohala Coast, with just a single home sale in Kūki`o and five condominium sales – two each in Mauna Lani Resort and Waikoloa Beach Resort and one at Kohanaiki. On the upside, these properties...

read more
June Market Statistics for the Kohala Coast

June Market Statistics for the Kohala Coast

Real estate activity along the Kona-Kohala Coast was quiet in June, with only a few condominium sales and no single-family home sales within the resort areas. The exception was Mauna Lani Resort, which was the bright spot with six condominium closings. Mauna Kea...

read more
Featured Big Island Restaurant & Activity for August

Featured Big Island Restaurant & Activity for August

Featured Activity: A Day Trip to the East Side – Explore ʻImiloa Astronomy Center Located on the University of Hawaiʻi-Hilo campus, ʻImiloa Astronomy Center is a must-visit destination for anyone curious about the stars, Hawaiian culture, and the art ofnavigation....

read more

Recent Listings

Call Now