For most of us, shopping for a new home also means shopping for a home mortgage. In both exercises, you'll want to be a smart shopper. Working with a PacWest real estate agent, you can find a home you'll love. And while it's not likely you'll actually "love" your new mortgage, here are six secrets to make sure your financing needs and the lender you're considering are a good match.

1. Mortgage Pre-Approval.
A mortgage pre-approval before you start house hunting can save you big time; the seller knows you’re a "cash buyer" and may favor your purchase offer over another. Ask us about our pre-approval options. Ask about our no-cost, no-obligation pre-approval certificates.

2. Quick Loan Processing.
Some lenders offer mortgage approval in just 5 to 7 days and others use electronic underwriting to give same-day approval. Ask us. Quick turnaround time could get you to closing sooner, which may make you the most attractive potential buyer to a seller and may mean less time in temporary housing. At PacWest you are dealing directly with a lender and not a broker. Your approval is issued directly by our underwriting department.

3. Flexible Underwriting Guidelines.
Flexibility is the key to understanding each situation a home-buyer is faced with. Some buyers may not meet traditional underwriting guidelines such as past credit difficulties or job situations that are not textbook perfect. At Pacwest we realize that underwriting is more of an art than a science and each situation must be analyzed in order to determine eligibility. It’s only smart to deal with a lender who is on your side in helping you get your loan approved. Also, you are dealing with someone who underwrites the loans locally on site, not sent off to an “investor” for approval.

4.Variety of Mortgage Products.
Perhaps you’ll do best with a short-term mortgage or an adjustable-rate loan (ARM) At Pacwest we offer a large selection of mortgages and even unique mortgage products, to determine which one suits your needs best.

5. Rate Lock Options.
Find out what rate-lock options are available such as lock-in period, fees and interest rates. The shorter the lock time --- that is, the shorter time between when you agree on a mortgage rate and when you actually get to closing --- the lower the interest rate you’ll typically have to pay.

6. Variable Loan Fees.
Shop for a lender whose fees are reasonable. Ask about all charges, such as "processing fee" or "underwriting fee" or "appraisal review fee". Mortgage lending is a competitive business and fees vary from lender to lender.