We have a great plethora of great mortgage brokers here on Active Rain, but when we meet buyers, and they obviously need a pre-approval to discern how much they can afford to purchase on a property, who do we recommend? and for what reasons?
My company favors Wells Fargo, and we have a special relationship with Wells Fargo through Houlihan Lawrence's Thoroughbred Mortgage Service. The Wells Fargo Mortgage Brokers visit our office each week at our office meeting. They take the time to introduce changing laws, new mortgage products and to basically remind us of their (great) services. It would be very silly of me not to recommend them to a new buyer, and so I do.. but I always recommend 2 other mortgage brokers also, as ultimately it should be the buyer's choice - not my own. I also know, though, that my Wells Fargo representative will be prompt in getting that pre-approval to my potential buyer, that she will be thorough, and that is really important also. I always inform the buyers that should they utilize the Wells Fargo Broker for the pre-approval, and they then find a lower rate at another bank.. just give the courtesy to the Wells Fargo broker with whom they had originally spoken with to match that lower rate.. You never know unless you ask, and if someone has already assisted you in giving their valuable time, then it's a nice thing to go back to them. Utimately, we are hoping our buyers obtain the best rate, the best experience with the most competent of mortgage brokers. It doesn't matter who they use, as long as they are happy.
Between FHA loans, construction loans, Doctor's loans... (did you know that a Doctor, 3 years or less out of medical School can qualify for a 10% only Down payment ? ) Your local mortgage representative will always share pertinent information with you ... so refer..then let the buyer choose..
Westchester is GREAT!
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