Importance of Mortgage Company Customer Service

Team fist bumping

American Financing is committed to delivering the best mortgage solutions to its customers. We conduct business ethically and morally while serving our clients with best-in-class service.

For most people interested in obtaining a loan, the challenge is more than simply finding a mortgage package, but also having to deal with the stress of finding the right bank, mortgage brokers, online lenders, and other loan application processes. The disturbing question is how to find the best deal and choose the most proficient mortgage lender?

The mortgage lending business is becoming competitive at a very rapid pace. Putting trust in the wrong mortgage provider can cause serious financial harm, therefore it is extremely important to choose a mortgage service that has a lot of experience and great history providing quality services to their clients.

On the other hand, a mortgage company with a better reputation and good market reviews can save not only the stress of ever-increasing interest but also makes the entire process easier. What a good mortgage company always offers is great customer service; but why is customer service so important?

Importance of good customer service

Customer service is one of the fundamental factors contributing to the quality of a mortgage company. When having questions regarding payments and rates, good customer service is what assists borrowers in ensuring the entire process is clear.

Customer service prepares the borrowers for the application process and answers any question that client may have during the process. The client’s understanding and knowledge make the services provided much easier to keep track of.

Another area in which strong customer service is important is to make sure that borrowers understand the breakdown of their payments; interest rates, mortgage insurance (if applicable) and principal. In addition, they need to understand the term of the loan and when payments are due. Interest rates are often misunderstood by customers and can cause complications in the future.

What are the factors of good customer service?

  • They are clear about the entire process.

  • All the packages and services that are applicable to your financial situation are presented.

  • They are responsive to the needs of clients.

  • Customers are guided through application forms.

  • Loan officers ensure the loan program, rates, and terms are fully understood by the customer.

  • The loan team is directly in contact with the customers and therefore define each and every service a mortgage loan company has to offer.

  • If the services are not made clear, it not only brings hassle and stress to the clients but also puts the repute of a company at stake.

Why salary-based makes sense

There are many questions you should ask a lender before choosing to work with them. It’s important to understand fees, interest rates, and the length of the process -- to ensure you close on time. However, something else to consider asking: are you paid on commission? Lenders who make a commission on loans may not have your best interests in mind. Instead, they may be putting you into a program that will provide them a better paycheck. Don’t let that happen! Choose a salary-based lender. In choosing a salary-based lender, you’re more likely to receive the best loan options for your needs.

Lastly, be sure to check out our questions to ask your mortgage lender blog post for more ideas on how to prepare for your big decision.