Things You Should Know About Buying A Home Client Questions

It's not just the lender Nick, it's their "team" -- a misplaced document from the processor, a missed item that the underwriter needs for the file in order to give final approval . . . yup, that's why we recommend.

I definitely have a preferred lender. Used him since 1996. Hasn't let me or my buyers down yet. Probably why he's STILL my preferred lender.

Buyers should work with a lender that is recommended by friends or agent or ask for references and check them.

Great post, Nick. I personally have three lenders I have great trust in and will provide all three names to a client who asks. There are some who might be better at some things than others, so when my client has a special need I might point out that one of my preferred lenders has a specialty in what they need.

I'll say it a million times that caring is is the rrot of all else. you'll not be afraid to get the help you need or give the help needed if you care. :)

 

Love and light,

Laura

Amen Nick.  I have a very short list of lenders in the Fort Wayne area that I truly trust.  I recommend them as much as I can to my buyers, and hope that they take my advice and use them.  Not all do, but most of them hear me.  

Nick, excellent point! Most people want to choose a lender solely on the lowest interest rate.

Excellent post and congrats on the feature. I agree, I let my clients know that I have a team of lenders, inspectors, etc. and each one of my team members are here to make sure that your best interest is at hand and I can trust them to get you to closing.

Very well explained and hopefully it's this type of response to that question that will drive away the myth that you must be in kahoots with the lender.  When we find lenders that mean business, we like to keep them in our circle.

I have been working with a lady who has quickly gained (and earned) a pristine reputation. I tell my buyers, look around but if you want me to recommend someone it is her. They usually all heed my advice and so far they always come back very satisfied. Good for her. Good for me. Good post! 

Loan originators can make or break a transaction.  Staying on top of all the paperwork and verifs is their essential task.  When a Realtor finds a good one, stay close to that person!

 

Good point Nick. 

 

We want our potential buyer clients to use our preferred lenders because we know that they perform and that they can provide the level of service necessary along the way to facilitate and ensure a smooth transaction for all parties.  Once we have effectively communicated this to them, it's a normal transgression towards them getting on board with us.

 

Cheers!

One lender does not fit all.  The products that each use the most can easily vary.  One of my preferred lenders does a high volume of FHA rehab loans, another a huge volume of USDA, one can go to a lower credit score than another.  Yes, I like doing business with people, but the service I provide my clients should be tailored to fit their needs.

I have had this conversation many times. One of my buyers asked me how much money I made if she used "my lender" . It's so hard to find a good, honest professional, why don't customers understand that?

I have yet to refer a client to TMC in Trinity, Texas that has not been THRILLED with them. And I have been referring folks to them for years. I have, however, had many say they wished they had listened..... 

A good lender is the difference between a smooth transaction and one gone bad.  We all know who the good ones are and when a client takes our recommendation to heart and uses one of the better ones, we know we'll get to the closing talbe with a lot less grief on everyones part.

Nick

A good lender and team can make a world of difference, or it can be a disaster. I had a deal once where 1 week before closing we found out that the entire file the lender had was lost. EVERYTHING has to be completely redone. Granted this was some time ago and perhaps less was done online but it was a major problem in a number of ways. Guess who NEVER got any sort of recommendation?

Jeff

Nick, sometimes buyers end up with an online lender or someone who promises lower rate (and have difficulty closing) - so yes. they can choose the lender but ideally, work with a realtor(r) who can help them introduce to some good lenders.

Nick - Having a relationship with the lender can make a big difference in getting things done.