"Also, I noticed that lenders who openly admitted when they didn't know something and promised to follow up (and actually did) seemed more trustworthy."
This is spot-on. Had a lender once who confidently answered every question immediately—felt reassuring at first, but later realized half the info was off-base. Another lender openly said, "I'm not sure, let me double-check," and always circled back promptly. That honesty made a huge difference in trust. References were okay for me, but honestly, seeing how they handled uncertainty mattered way more.
Yeah, that's a good point. Do you think it's more about honesty or just competence? I've had lenders who were super honest but still dropped the ball on follow-ups... honesty alone doesn't always cut it, I guess.
"I've had lenders who were super honest but still dropped the ball on follow-ups... honesty alone doesn't always cut it, I guess."
Yeah, that's a common issue. Honesty is crucial, but competence and reliability are equally important. When I'm vetting lenders, I usually approach it step-by-step:
First, I check their references or online reviews—not just for honesty, but specifically for how consistently they follow through on promises. A lender might be upfront about fees and terms, but if they're slow to respond or miss deadlines, that can derail your project timeline.
Next, I test their responsiveness early on. Send a few questions via email or voicemail and see how quickly and thoroughly they reply. If they're already slow at this stage, imagine how they'll be when you're knee-deep in paperwork.
Finally, clearly communicate your expectations from the start. Let them know you value timely follow-ups and regular updates. Sometimes setting clear expectations upfront can help even an honest-but-disorganized lender step up their game.
It's not foolproof, but combining honesty checks with these practical steps usually helps me find someone trustworthy and reliable.
That's a solid approach. When we were choosing our lender, I noticed one guy was super transparent about everything but took forever to reply to emails. Another lender was quicker but less detailed upfront. We ended up going with the second one after clearly laying out our expectations for communication. Worked out pretty well... sometimes you just gotta find that balance between honesty and responsiveness.
"sometimes you just gotta find that balance between honesty and responsiveness."
This is a great point, and it aligns with my own experience when selecting lenders for high-end properties. Transparency and responsiveness often seem to be two sides of the same coin, and it's rare to find both qualities perfectly balanced in one lender.
When I was evaluating lenders last year, I noticed something similar. One lender provided incredibly detailed documentation upfront—breaking down every fee, timeline, and potential hiccup—but their response times were painfully slow, often taking several days to get back to straightforward inquiries. Another lender was lightning-fast, replying within hours, but their initial estimates and disclosures were vague, leaving me uneasy about hidden costs or delays down the road.
Ultimately, I took a slightly different approach: I created a detailed checklist of my expectations and asked each lender to review and confirm they could meet them. This included not only transparency in fees and loan terms but also specific communication guidelines—like maximum response times and preferred channels (email, text, or calls). Surprisingly, this simple step filtered out a few lenders immediately. The lender who eventually earned my business wasn't necessarily the fastest or most detailed initially, but they agreed explicitly to my checklist. Throughout the loan process, they stuck closely to it, and the transaction went smoothly.
One thing I'd add from my experience is to always ask for references or testimonials from past clients—especially if you're dealing with larger loans or luxury properties. Speaking directly with previous borrowers can provide valuable insights into how the lender handles tricky situations or unexpected delays. It's one thing to promise good communication upfront, but another entirely to maintain it under pressure.
Overall, your approach of clearly laying out expectations upfront is spot-on. It's a simple but effective way to ensure you're setting yourself up for a successful lending experience.
