How to Work With a Lender: Questions to Ask Before You Choose One

Choosing a lender is one of the most overlooked decisions in the home buying process. Buyers spend weeks picking out the right neighborhood and hours touring homes, then choose a lender almost as an afterthought. But the lender you work with affects your rate, your closing timeline, your stress level, and sometimes even whether your offer gets accepted in a competitive situation.

Here's what I recommend asking before you commit to one.

"What loan programs do you offer, and which fit my situation?"

Conventional, FHA, VA, USDA — the right program depends on your specific circumstances. Given how many military families and veterans call Hampton Roads home, I always ask whether a lender has real, hands-on experience with VA loans specifically. Not every loan officer does, and that experience matters.

"What's your average closing timeline?"

Some lenders close in three weeks. Others take much longer. In a competitive offer situation, a lender who can close quickly and reliably can make your offer more attractive to a seller.

"How will you communicate with me, and how often?"

You'll want a loan officer who's responsive — buying a home involves a lot of moving parts, and the lenders who communicate well tend to make the whole process noticeably less stressful.

"Can you give me a full breakdown of closing costs, not just an estimate?"

Ask for a loan estimate in writing early on. It should break down every fee so there are no surprises later.

"Are you local, and do you understand this market?"

A lender who regularly works in Hampton Roads tends to understand local appraisal quirks, flood zone considerations, and the pace of our market better than an out-of-area call center might.

"What happens if my rate isn't locked and rates move before closing?"

Make sure you understand your lender's rate lock policy and what your options are if the process takes longer than expected.

Frequently Asked Questions

Q: Should I use the lender my agent recommends?
A: It's fine to consider a recommendation, but I always encourage buyers to get quotes from at least two or three lenders and compare. A good agent will never pressure you toward one option.

Q: Does it matter if I use a big bank versus a local lender or credit union?
A: Both can work well. What matters more is responsiveness, experience with your specific loan type, and a track record of closing on time.

Q: I'm a veteran or active-duty service member — does it matter if my lender has VA loan experience?
A: Yes, significantly. VA loans have unique requirements around appraisals, funding fees, and eligibility. A lender who handles them regularly will make the process much smoother.

Not sure where to start on the financing side? I'm happy to point you toward lenders I trust who work well with buyers in this market, and walk through what to expect. Reach out anytime.