Arizona Loan Officers: Things Great Loan Officers Do

In baseball, what is the difference between a hall of fame hitter and someone that is easily forgotten? Not much. A hall of fame hitter might have a career lifetime average of .333 and a run-of-the-mill big league player might have a lifetime average of .250 – seemingly not that much of a difference to someone who isn’t familiar with the difficulty of hitting.

Luckily, when it comes to loan officers, it is usually easier to spot the good ones from the bad ones if you know what to look for.  If you are looking for an Arizona loan officer, here are just a few things that the great Arizona loan officers do:

Great Loan Officers Listen First

In your first conversation with your loan officer, you should be prepared to do most of the talking. If you find your loan officer doing most of the talking, that usually means he hasn’t taken enough time to understand your unique situation. Great loan officers will know the right questions to ask, and then how your answers to those questions dictate the next set of questions relating to your answer.

Great Loan Officers Have Experience

In Malcom Gladwell’s book “Outliers”, he says that to truly be world class at something, you generally had to be good at it to begin with and then spend approximately 10,000 hours perfecting that skill. I don’t know exactly at what point a loan officer becomes “experienced” — but it is probably safe to say that if they are measuring their experience in the mortgage business by weeks or months rather than by years, they are probably not great loan officers yet.  I can see how it could be possible to be green and good, but not green and great.

Great Loan Officers Communicate Effectively

The process of getting a mortgage generally takes somewhere between a couple of weeks and a month.   During this time, you might actually talk with your loan officer a small handful of times – but there are many people “behind the scenes” that are working on your file.  Great loan officers will keep you updated throughout the process — even when you don’t need to actually do anything.  You should find yourself getting quite a few emails that start out by saying something like “hey, just thought you would like to know…” and then give you a quick update as to the status of your file.

Great Loan Officers Tell You What To Expect – Up Front

The mortgage process itself is relatively the same from lender to lender – it really hasn’t changed all that much in years. But the timeframes that each step of the mortgage process takes changes on a regular basis and great loan officers set your expectations up front about the time and process that getting a mortgage will take.

What if you don’t personally know a great Arizona loan officer? Our best advice is to:

  1. Ask a Realtor you know who a great Arizona loan officer is
  2. Ask the 1st loan officer you meet with for 2 other great loan officers in Arizona
  3. Ask the loan officer if you can speak with one of his clients about their experience
  4. Find out what “Google” has to say about your loan officer

Lastly, since we happen to be in the mortgage business right here in Arizona, we thought we would take the time to distribute information on some great,  local, Arizona loan officers.  Sure, there are many great Arizona loan officers – and as we meet more of them, the list will grow!