The Importance of Testimonials in Choosing a Lender, Part 2

Published March 9, 2011

In part one, we shared that it’s important to get testimonials from lenders of apartment loans. Testimonials can be a useful tool to help you establish trust. It’s not the only tool – certainly you need to do your due diligence in other ways. These include seeing if they have a Better Business Bureau rating, and doing an online search of their reputation.

In this post, we will encourage you to take it a step further in asking for testimonials from the apartment loan provider you talk with. We encourage you to ask to speak with at least a few of the people who have written a testimonial.

This will help you take due diligence a step further because of more strongly verifying the authenticity of the testimonial. For example, if the person providing the testimonial is very happy to share their testimonial with you, and is very excited in sharing their experience, this is a positive indicator. If the person is reluctant to share their testimonial of an apartment loan provider, and there is a lack of enthusiasm and conviction, this is a poor indicator. If you get several testimonials that are reluctant and lack enthusiasm, this may be a warning to choose other apartment loan providers to work with.

The leaders of Apartment Loan Store and Business Loan Store do our due diligence to protect you. We carefully check out the potential lenders we use to help you have a good apartment loan experience. In doing my due diligence on one potential loan source, I personally talked to 7 people providing testimonials. They were all very willing to talk with me and very enthusiastic about the loan source.

Give us a call at 866-811-9515 to get testimonials, a rate quote and to ask questions. And be sure to check out our educational videos on apartment loans. 

By Bruce Painter, Marketing Director