The good, the bad, and the ugly

By
Mortgage and Lending with Loan Officer-Amerifirst Financial (0013635) Arizona & Utah

The good, the bad, and the ugly explains the scenarios home buyers can experience while working with a lender. There are so many variables when it comes to the loan process. You need a good lender who has the knowledge to make the loan process go as smooth and painless as possible. Getting a loan in today's market has its challenges and like a good Realtor a good lender can help you work through the process. The main goal for everyone involved is to get the buyer into the home.

The GOOD:

  • A good lender knows the different loan programs and guidelines: FHA, VA, Conventional, Homepath, USDA
  • Will help you decide the best program based on your needsThe good, the bad, and the ugly
  • Help figure out what you can afford 
  • Answer the phone and return phone calls
  • Guide and explain you through the process
  • Answer any and all questions you may have

The bad and the ugly go hand in hand, if you have an inexperienced or sloppy lender you will have nothing but problems throughout the entire loan process. They will not know what documents they need, every step is delayed, and the dreaded "underwriter" will usually have bad news for you.

It is so important to have a good and experienced lender, there are so many things we do behind the scenes that you will never know about. We are requesting title work, ordering appraisals, collecting the required documents, reviewing all of the documents prior to underwriting. I spend countless hours crunching numbers and researching the guidelines and programs so that when the underwriter looks at your loan, everything is acceptable and they give us the all mighty "Loan Approval". Not to mention the entire process is very time sensitive and we don't want to miss your close of escrow. My biggest pet peeve is missing the close of escrow, nobody wins when this happens and it like rain on your wedding day.

What separates me from others:

  • I always answer my phone, even at night and on weekends
  • I will take a full application to help you decide your best options
  • I address all questions and concerns
  • I walk you through all of the steps required to get the loan and hold your hand
  • I work diligently on your loan and move it along as fast as the process allows
  • I not only meet your close of escrow I usually get it closed early
If you would like to get pre approved or have any questions please let me know.
Amerifirst Financial, Inc.
602-707-6002

Today is the tomorrow that you were worried about yesterday!

 

Comments (2)

Donna Hudson
Crye-Leike, Realtors - Bellevue, TN

I am working on a closing still today that was supposed to close Friday because a lender did not get the signed Verification of Rental from the Landlord.  I am representing the seller and have run all over the county getting the VOR to the Landlord for the Buyer, getting it back and sending over to lender to do all we can do to get it done.  This is a short sale and today is the final day before going back to negotiation with the bank. 

I say all that to say DITTO on making sure your buyers have a good lender.  It's not always about an 1/8% savings on the mortgage rate!  Experienced knowledgable lenders are much more important! It could be the difference in getting to the closing table or the purchase falling through completely!

 

Mar 15, 2011 09:11 AM
Nate Herd
Loan Officer-Amerifirst Financial (0013635) Arizona & Utah - Phoenix, AZ

I agree Donna, it makes a huge difference. There is so much more to a loan than rate.

Mar 15, 2011 09:20 AM