to choose who you will work with to get your loan. I tell my clients that I can get them the house they want but they have to work hard to get the loan. It's not a simple task any more.
We can be a great resource.....
We can be a great resource.....
We deal with a variety of lenders, some times daily. We also hear others experiences with different banks, loan officers, etc. so make sure you research the loan officer and lender you intend to use, other opinions, and your Agents experience with that person. Remember, that you will probably only work with 2 or 3 loan agents in your life time. We work with exponentially more and can be a valuable resource. I personally do not “do” loans because I believe getting my client the loan and selling the house are a MASSIVE conflict of interest. You should have as many eyes and ears on the transaction as possible to protect you.
I would never explicitly tell a client to use or not use a particular bank, officer, inspector etc but I would share my personal experience and let them make the decision. It's your decision and you drive the train. If we're providing you information...try to listen and strive to understand and then choose. Remember, your friends and family, albeit full of good intentions, only experience the same amount typically in their lifetime.
Financing can be very sensitive and problematic to obtain. Before you write the purchase contract with your Agent ALWAYS speak with the Mortgage Broker or Loan Officer and discuss their experiences with a particular lender from Contract to Income Verification to Appraisal to Loan Approval to the Docs being drawn to Funding Conditions, to Funding as a group. You would be surprised on the small items that can become big headaches at any of these road blocks to closing.
Anticipate objections with over documentation and staying true to my "DON'T DON'T DON'T" List (Go to my website www.YourNewRealtor.com and to view it. It should be up by the end of today.)
I would never explicitly tell a client to use or not use a particular bank, officer, inspector etc but I would share my personal experience and let them make the decision. It's your decision and you drive the train. If we're providing you information...try to listen and strive to understand and then choose. Remember, your friends and family, albeit full of good intentions, only experience the same amount typically in their lifetime.
Financing can be very sensitive and problematic to obtain. Before you write the purchase contract with your Agent ALWAYS speak with the Mortgage Broker or Loan Officer and discuss their experiences with a particular lender from Contract to Income Verification to Appraisal to Loan Approval to the Docs being drawn to Funding Conditions, to Funding as a group. You would be surprised on the small items that can become big headaches at any of these road blocks to closing.
Anticipate objections with over documentation and staying true to my "DON'T DON'T DON'T" List (Go to my website www.YourNewRealtor.com and to view it. It should be up by the end of today.)
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