2007-08-08 13:20:43 · 7 answers · asked by chapped lips 5 in Business & Finance ➔ Renting & Real Estate
i would stay with your local bank.
good luck :)
2007-08-08 13:27:11 · answer #1 · answered by Blue October 6 · 0⤊ 0⤋
You can go directly to a bank... or through a broker. There are pro's and con's to both.
Either way, no matter where you go, anyone that asks for any money up front (for your appraisal fee for example) don't go there.
I work for a great bank here in California as well, and i can't tell you how many times i get clients who were promised one thing, fork out money for their appraisal (usally $350) and then when it comes time to sign their documents, they have higher fee's or rate, sometimes both!
At our company, all of the Loan Officers pay for their clients appraisals out of our pockets (and again, we are a big bank, not a little mom and pop broker). We do this because that is our way of showing our clients that what we promise is what we deliver. If you are not 100% happy with our service or we have miss-communicated anything, you have nothing lost... we do. We have a vested interest ($350) in making sure you are getting what was promised. Most banks will not offer that type of service.
Bottom line is, rates change daily... shop around and go with someone who is willing to put there money on the line... not yours. And as the other guy suggested, go with your gut!
Good luck!
2007-08-08 22:08:46 · answer #2 · answered by Melissa F 1 · 0⤊ 0⤋
Interview several until you are satisfied they are going to be doing what is best for you and not their commission. Ask questions, how long have they been an officer, did they originate and process as well? Do they eventually want to be an Underwriter? That last one will help you judge whether they are serious about helping people or just the money.
Sound cruel I know but I've been in the business and can tell you I've worked with the full spectrum from just money hungry to real officers wanting to help people out the best they can.
2007-08-08 20:36:13 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You have to contact several mortgage brokers, select a few to interview, after which you have to go with your gut feeling.
Normally mortgage brokers are referred by friends or other professional people you know, such as CPA, Tax preparers, attorneys, real estate brokers and agents as well as others you might know and trust.
If you currently own a home who did the money purchase loan, find that person if you were pleased with their services, you should have their business card some place.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2007-08-08 20:38:02 · answer #4 · answered by loanmasterone 7 · 1⤊ 0⤋
I work for Chase and am licensed in California. I have a mortgage concierge program that I can email to you that gives you some really good information. If you like, you can email me
casey.x.casperson@chase.com and I'd be more than happy to get you prequalified for free and see what the best direction is for you to proceed.
2007-08-08 20:48:58 · answer #5 · answered by The Smart One 4 · 0⤊ 0⤋
I understand your concern.
Where are you in California?
For safety reasons I would stick with someone you know, maybe where you bank presently.
My lender is in house and has been there for a long time, but concern is genuine with the issues on lending lately.
Let me know if I could help.
Denise Stuart
Coldwell Banker
2007-08-08 20:42:32 · answer #6 · answered by Denise S 2 · 0⤊ 0⤋
LOLOL, you are sooo funny...
and i lost a diamond ring in Tiaunna...
anybody find it???
2007-08-09 12:50:03 · answer #7 · answered by Anonymous · 0⤊ 0⤋