What qualities should I look for in a lender?

A word of caution beforehand -- do not choose a lender solely on the fact that they are offering the lowest interest rates. Remember, there may be hidden costs such as point's, enormous closing fees and poor service. If it sounds too good to be true, it probably is. If the rates appear to be well below current market rates, beware. In this day and age, most lenders offer competitive rates. If your lender doesn't offer the rate you have been offered elsewhere, ask if he would consider lowering the interest rate to you. Don't be surprised if he will. This is a business and the lender wants your business.

You need fast and efficient service from a lender. If you are not getting it, think twice about using this lender. The closing needs to go smoothly. Having incomplete or inaccurate documentation could delay the entire process. This is not the position you want to be in. There are also other aspects that should trigger your attention. If your lender is not responsive to your calls and questions or appears to have incorrect information, you should reconsider using him.