Todd, why did you send me this list of lenders you prefer, I can find a cheaper one online!
With a lot of information available now on the internet, many buyers are finding mortgage programs and interest rates that they believe are unbeatable. But read on, and you will find out why it is better to work with lenders whom your Realtors have already worked with.
Great question! But let me ask you this, have you ever met this person? Have you ever talked to their past clients? Have you ever seen a sale fail because of one of these internet lenders? The problem with most internet lenders is they are not going to be at closing or easy to get a hold of at 5pm if something should go wrong at close. (And believe me they do!)
Also, they aren’t involved in the process at all. What most internet lenders do is take your information over the phone, give you a fax number to fax your paperwork in and then it is all done by someone else. Now, they are usually working more than one case and unless you are on the phone with them when they realize they have missed something, they tend to forget to call you for that information. (You find out at close when they say they needed that information prior to closing)
I’ve also seen the nightmare where the interest rate isn’t as quoted over the phone and the buyer doesn’t know it until they hear it at the closing table. This can be a big problem because if you don’t sign, you lose the house and your earnest money deposit. (Who wants that?) If it is local lender you can call and have new paperwork sent over immediately, though I have never seen an interest rate error with one of my preferred lenders.
So, my advice is if you are looking to buy a home in the Beaverton area is call one of the lenders on my list, they have been working with my clients for years without complaints. Can the same be said for the internet lender you just saw advertised at the top of your yahoo email account?
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)622-8739
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard.
All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please me a call I would love to help you with all your real estate needs.
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