· A loan officer who can give a clear explanation of the loan process is invaluable. Find Out If They Can Communicate Effectively. good loan officers understand that time is everything in a real estate deal. It is important that you get to the closing table on the agreed closing date. In order for this to happen, your loan officer must communicate with you throughout the process.
Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice.
“This strategy actually came to me via a real estate agent four years ago, and she was the one that [first] came up with the idea,” says Donald Sutherland, a reverse mortgage loan officer with..
To find a loan officer you trust, ask about fees and their longevity in the business. Even so, it’s a good question to ask, according to Jack Guttentag, a professor emeritus of finance at the University of Pennsylvania’s Wharton School who runs an informational website on mortgages called mtgprofessor.com.
With the ability to accommodate more peoples’ needs, it makes sense for loan officers or bankers to choose the wholesale route. The current landscape of the mortgage industry is an extremely.
I’ve also worked with several credit unions in the past, and yes, while they do care about their customers, I find that they, unfortunately, provide their loan officers with insufficient training.
A loan officer is a representative of a bank, credit union, or other financial institution who finds and assists borrowers in acquiring loans. loan officers can work with a wide variety of lending. The List: How a grill manufacturer teamed up with a local bank to keep business cooking – Why did you choose a commercial loan over other types of.
Best Banks To Get Pre Approved Tips and advice to improving your odds of getting pre-approved for a mortgage.. Make sure you are getting the best mortgage rates by maximizing your credit scores.. You will need a certain amount of cash in the bank to buy a home.
For new homeowners, a home equity loan might not even be an option. In order to get a home equity loan, lenders will want you to have at least an 85 percent loan-to-value ratio after you take out the home equity loan. For example, say your home is worth $300,000 and you owe $200,000 on it.
In scenarios where C2 loan officers determine that a potential borrower could benefit. have a large mortgage to pay off and really would prefer a low fixed rate they will often choose a HECM,”.
Which Is The Best Mortgage Lender And analysts of all persuasions blame the mortgage industry for connecting people to increasingly exotic loans that would enable them to afford homeownership, including adjustable-rate mortgages. The.