I am going to a closing in just a little bit. Yes, I do attend all my closings unless it is just impossible to do so. As a loan officer I think it is very important as it allows me to be sure that everything goes smoothly.
The closing I am going to be attending is for a purchase. With 100% financing. With a 54% debt ratio. Conforming rates, 6% 30 year fixed on the first and 9.625% HELOC with no costs on the second (a 75/25). Yes, these can be done! Two other major lenders would not do it. They offered 95%, but no to 100% which is what the customer wanted. I have been doing this for nearly 30 years. I never have liked to say no, or even no, but... So listening to the customer and finding ways to make it work are my highest priorities. Now of course not everything works, but I will search every avenue until there is nothing left to do. With the experience that I can bring more often than not it will get done, and done right.
I am with a company, Brand Mortgage Group, that believes customer service should always come first. As a complete mortgage lender, a division of a family owned bank, we have options that many others may not. With the experience that I have I know how to make that advantage work...not only for the customer, for the realtors and builders, and everyone involved in the process. As we all know no one gets paid until the ink is dry.
Times are a little tough. The builder on this particular deal said this morning "that's really good news (to have the closing today), and it is nice to have good news in this tough market!" I will enjoy this afternoon, sitting with nice people, who are at a happy event. The customer knows how much he has to have at closing ($863 on a $456,000 purchase), the attorney got the package in plenty of time, the builder's representative will be thrilled to sign the papers and hand out the keys, and I will be happy to answer any questions that arise. You see, I also take the time to be sure my customers are prepared for what will happen.
If you would like to have this kind of pleasant experience then consider giving me a call. I would love to hear from you! Also please look for future blogs as I will try to keep everyone up to date on what might be happening in the mortgage industry.
Merlin Pearson
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