how can i refinance my house without a loan officer or a middleman?

Question

i heard that we can refinance our own houses without a loan officer.

Answer 1

I applied on the phone directly with the bank. citi bank that is. It was great because i didn't have to pay for the middle man

Answer 2

Honestly I would not recommend this , because if there are any errors it will be on you and you will be liable , where as with a loan officer you have company to back you up. What you want to do is find a loan officer who will not charge you more than 1 or max 2 points depending on your credit. First off , do not believe these gimmicks such as " no cost" etc. When they say no cost for your loan , they mean that they will just get extra points from the lender. Contact me if you have further questions. Glad to help. Good luck!

Answer 3

You can refinance with anyone you choose - but be careful if your credit is low, and you shop it around and have many many ppl pull your credit.

I know you do not want to talk with a broker but a borker does many things for you and the one thing they do is go off your credit report one time.

Talk with a broker, a broker underwrites for many company's (I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a "hard" pull and it drags down your credit score. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down.

Normally banks have more rigid guidlines, hence the reason many people need a Mortgage Broker. Good luck to you.

Answer 4

Hello There,

First off, what you need to realize that whether your going to a bank, brokerage, or mortgage firm, whoever handles your loan process is a "loan officer"

You cannot do it on your own because there are laws prohibiting it.. It is a conflict of interest to originate your own mortgage, and no investor will lend money to you..

Even if you are a mortgage loan officer for a company, you cannot originate your own loan.. Someone else in the office has to do it in their name...

Back to the main point.. You want to cut out the middle man...

THERE IS ONLY ONE WAY TO CUT OUT THE MIDDLE MAN!!

You go to a "WHOLESALE MORTGAGE LENDER" A wholesale lender is a direct bank.. There is no middle man in the process, the loan officers at a wholesaler represent the investor directly...

Its funny taht alot of the responses here are tellin gyou to go to the bank... A bank has middlemen as well... The bank is no who is lending you the money... The "investor" is the one lending the funds..

Banks will "SELL" loans on the secondary market to the investors...

With that in mind, you need to work with a company that can give you the loan directly from the investor...

Eiterh route, you want a loan consulatant to advise you on the right program option.. The main key is working with a LICENSED loan officer.. A licensed loan officer takes classes, has at least a bachelors degree, and passes a state issued test to be able to originate mortgage loans..

It sounds like you have ahad a bad experience in the past with a mortgage laon officer.. As a mortgage loan officer of 13 years, i have heard my share of horror stories about unethical loan officers..

What you need to realize though is that NOT ALL LOAN OFFICERS ARE TRYING TO RIP YOU OFF!!

I myself for instance have a different philosiphy... I take care of my customeers so well that they refer me to their friends and family.. This is precisely why 70% of my business comes from referrals..

If i as a loan officer dont give you the best possible mortgage option, then you will be reluctant to work with me again, and especially not refer me to anyone...

Ill also poin tout that there are new laws and regulations put into p[lace on a daily basis in the mortgage industry to combat unethical mortgage officers..

Being bankruptcy;s and foreclosures are at an all time high, there are much more strict guidelines being put in place that make it very hard for the unethical loan officers to take advantage of borrowers..

I work with a wholesale mortgage lender named Treehouse Lending.. We are nationally recognized and are in great standing with the better business bureau..

If you want to work with a trustwortyh, honest, ethical loan officer that takes pride in helping people such as your self with their finances, feel free to contact me at anytime..

I can guarantee the best possible program, with the lowest rate and fees...

I look forward to your call or email!

Jason Fry
Licensed Mortgage loan officer
Treehouse Lending
312-239-7126
[e-mail]

Answer 5

If the house is in his name, he can do it. Talk to an attorney right away before it's too late (an attorney might figure out a way to do something about it.) ------------------------------- To the "escrow officer." And how will the bank even know who else lives in the house? A guy comes to the bank, where he has mortgage JUST IN HIS name. The bank will give him home equity line of credit without any problems. Then he writes himself a huge check and that's it.

Answer 6

some times Loan officers can i get you a better price then the bank can offer you

Answer 7

Quicken Loans online...very easy process

Answer 8

Just go to a bank. The loan officer is paid by the bank. DONT DO ONLINE!!!!!!!!

Answer 9

Walk right into the bank and apply over the counter. That has no middle man.

Answer 10

you will always work with someone. Call it what you will... who cares, as long as you are getting the lowest terms and fees available!!!
try Quicken Loans, Eloan, or Choice Finance