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Why Is My Realtor Referring Me to You, Ms. Loan Officer in Riverside County?
Why Is My Realtor Referring Me to You, Ms. Loan Officer in Riverside County?
Experienced Realtors learn that their buyer clients will have an easier ride buying a home is one of their earliest moves is to get a Full Doc Preapproval from a trusted loan officer. When they see a loan officer do a loan with a competitive interest rate, in a timely fashion, with less than a usual amount of drama, Realtors take notice.  Over time, a Realtor gets to know and trust certain Loan Officers to do the right thing, Full Doc Preapproval as well as competitive fees, and so the Realtor refers you, the client, to the Loan officer.
A Full Doc Preapproval means, the Loan Officer requires the buyer to provide full documentation up front:
Most recent 2 months' paystubs, Most recent 2 years' W2s, Most recent 2 years' tax returns, and Most recent 2 months' bank statements. The Loan Officer takes that information and works up a whole file on the buyer, modeling out the purchase price, a conservative interest rate, average values for real estate taxes, home insurance, FHA MI or VA Funding Fee, etc.  Doing the full workup up front gives both the ... more

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