LendingLadies.com Interview

By Kelly Rusk

At SmartHippo, we aim to keep consumer’s best interests in mind and we love lenders who think the same way! That’s why I’m more than pleased to share this interview with Jessica Peterson, one of the co-founders of LendingLadies.com–a unique broker firm that does things a little differently.

What is LendingLadies.com all about?
Try to make obtaining a home loan fun. As it stands it can be a dry process, so we do everything we can to make it fun for our clients. The site provides information about mortgages in plain English, and we make it fun by letting people fill out a loan application in relaxing virtual places like the coffee shop, the pool, the retreat or the golf course.

Do you lend to men too?
Yes! Actually our clients are about 50/50 male and female and we have both men and women working for us. However, our investment clients are pre-dominantly male, so we are trying to even it out a little.

How are you different from other lenders?
What makes LendingLadies.com different from most lenders is we truly care—in a few ways. First and most obviously we care about our clients and we truly care that they get the best mortgage for their needs. You’ll notice on our application form that we ask a lot of question that other lenders don’t, including questions about lifestyles and other financial relationships, this is because we want to ensure each client get the best product for his/her needs and the more information we know, the better decision we can help our clients’ make.

We also truly care about being an asset to our community and to volunteer as much as possible. My partner and I are working on volunteering 70 hours a month. We’re not quite there now, but it’s a goal we’re working towards.

(Editor’s note: As an avid volunteer, I love this about the Lending Ladies! Volunteer work is so rewarding and I definitely recommend getting involved any way you can.)

And finally, we truly care about the people who work for us and make sure they are the best people for the job. We do thorough personality tests and have a very involved hiring process. For example, last year we received around 100 applicants, but only hired a couple of people. We feel if we’re going to offer the best service, we need the best people working with us.

Can you give us some recommendations for first-time homebuyers when choosing a lender?
Ask friends and family for recommendation, real estate agents, talk to two or three mortgage professionals, and talk to them within 2 hours as rates can change quickly.

When deciding on a lender, see if they provide educational materials to help you understand the mortgage process and what they are offering you.

It is also a good idea to ask if the person has won any awards, or if they can provide references or testimonials. Also be sure to ask if they can guarantee fees on the Good Faith Estimate, and get it in writing.

Ask how long he/she has been a loan officer and what makes him/her different from other loan officers. Ask if the loan officer prefers fixed rates or adjustable and why? Oh, and always ask if there are any specials.

In order to get the best mortgage for you, you need to find a lender who knows the numbers, loans and truly cares.

Very solid advice! Thanks Jessica!

If you’d like to learn more about LendingLadies.com, you can visit the site, view the profile on SmartHippo, or connect with Jessica via Twitter. Oh, and if you’ve worked with LendingLadies before, why not write a review?