How to Choose a Lender or Broker

At this point in your home search, you've decided that you're ready to find a lender or broker. Where do you start?

1. Compile a list of 4-6 lenders, brokers, and correspondent lenders. Some good sources for candidates include:
• Referrals from friends, family, trusted co-workers -- anyone who bought a home recently and was happy with the service they received.
• Any banks or credit unions with which you currently have savings or investment accounts.
• A large, national bank with an advertised rate.
• Your real estate agent.
• Online review sites, such as Yelp.com.
• Redfin's partner lender program (there's no obligation to work with Redfin if you choose one of these lenders).
2. Set aside an afternoon to call all the candidates on your list. You'll want to talk to your candidates within a short window; rates can fluctuate not only daily, but several times per day.
3. Interview your candidates using this interview script.
4. Pick the candidate who offers you the best deal and seems the least likely to flake out, misfile documents, or otherwise mess up your deal.

Once you've selected a lender or broker, you can work with him to secure pre-approval.