How a Loan Officer Helps
10 September
How a Loan Officer helps
Loan officers are available to help borrowers find a loan that suits their income. They relay financial information regarding each loan and approve loans.
Evaluate: A loan officer will first evaluate the situation by gathering a borrowers’ personal information and credit score. During the evaluation process a borrower can ask questions and discuss future plans. The job of a loan officer is to assess whether a borrower qualifies for a loan.
Recommend: Then, a loan officer will make loan recommendations that they believe you can qualify for. They will explain all the different types of loans and terms. Before making a decision review the required documents needed, as well as the down-payment requirements.
Authorize: Finally, after reviewing the loan agreement with the borrower the loan officer will approve the loan application. At this time, both parties have ensured the borrower will provide the entire amount requested and complete any further documents.
Remember that all mortgage loan officers must be licensed! You can find a loan officer at your local credit union, commercial bank, or any financial institutions available.
CONTACT US (619)-894-9596