Knoxville First Time Buyers – Choosing A Loan Officer

A loan officer will play a large role in buying your first Knoxville home. A good loan officer will guide you through the mortgage process, answer your questions along the way, and get you close on time. A bad loan officer can do the opposite.

For Knoxville first time buyers, choosing a loan officer can be a critical decision. Here are some tips to choosing the right loan officer for you.

Numbers Matter (Obviously)

When it comes to choosing the right loan officer, numbers are obviously important.

You want to be sure that you’re getting a good deal.  So, it’s important to talk with a few different lenders to see how their numbers work out.

A good loan officer will be able to confidently discuss the APR (annual percentage rate) and closing costs with you. He or she will be able to give you honest answers about the cost of the loan. If there is anything that seems fishy during the number game, run the opposite direction. A seasoned loan officer will know this stuff inside and out.

Go Local

For Knoxville first time buyers, it can be important to pick a loan officer and mortgage company that are local.

With some big mortgage companies, you’re just a number and that will matter at some point during the mortgage process. It can be important to have a loan officer and mortgage company that does everything locally, that way if an issue arises you’re much more able to get ahold of someone.


Experience can also be another factor that is important when it comes to choosing your loan officer.

Years of experience can be important, but it can also be important to have a loan officer that has experience in your type of loan with a company that closes that type of loan frequently.

Not all lenders specialize in all types of loans, so it can be important that the lender you pick and the company they work for has the ability to get a the loan done.  For example, if you’re buying a home with an FHA 203(K) loan, these loans are not done (or done well) by all lenders. So, be sure you ask how frequently the loan officer and company close that type of loan.

When it comes to meeting your close date, this will matter.

Level of Comfort

In the end, it’s also important to find a loan officer you like.

Throughout the mortgage process, if you’re like most Knoxville first time buyers, you will have questions throughout the process. So, it is important to find a loan officer that you’re comfortable with.

Are you thinking about buying your first Knoxville home? Please let us know if there is anyway that Knoxville Home Team can assist you in your home search. You can contact Rick at 865-696-9002 or via email at Rick@KnoxvilleHomeTeam.Com. Or, you can contact Kati at 865-392-5880 or via email at Kati@KnoxvilleHomeTeam.Com.