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Are you ingrained in the Same Lenders, or are you branching out? (Part 2)

By
Real Estate Broker/Owner with WHISPERING PINES REALTY 20398180

I wrote Part 1 in the 1st of May.  I pride myself in practicing what I suggest.  I had a client I had been working with for some time and he has found a property that he does like.  We just need to come up with a way of getting the payments down just a little bit.

My client is looking at liquidating some un needed assets...a 3rd car, a 2nd boat not being used, ect.  I looked at his Good Faith est. from his lender and started working from there.  700+ credit, most anyone will take him.  I did like I suggested in Part 1, I have talked with 6 new lenders, and now that this client is ready, I know where he can go and save 1/2 % on his loan.

Along with what my client is willing to sacrifice and what the lower percent will save, he will be able to purchase the property just below what he was willing to take on for a monthly payment.

For the same loan, there was a big difference between the banks.  Check out several and you may find a new 'TRUSTED' person to ad to you list.

Comments (3)

JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

Shopping around is the best way to get a good deal. Sometimes business calls for us to do just that.

May 05, 2009 06:56 AM
Randi Brammer
Randi Brammer, Acctg. - Hinckley, MN
Accountant & Tax Preparer

Bill I have set appt.s for tomorrow to talk with all the local lenders. 

May 05, 2009 07:33 AM
Vern Eaton
Askov, MN
Realtor 651-674-7449

I have found a wide range of requirements and rates among the differnet lenders.  Much wider than they have been in years.  Now I need to make sense of all of them!

May 06, 2009 02:47 AM