So how do you go about getting the best possible loan for your property? Whether you ever do business with us, you should know the answer to this question.
It's not uncommon for property owners to say, "I take all my banking needs to my favorite lender." There are two reasons for this. One makes sense the other doesn't. See which reason may apply in your situation.
Loan officers can be abrasive over the phone and generally don't suffer fools gladly. Learn how to sound like a "pro" over the phone to avoid an embarrassingly quick reply of "not interested."
Perception is often times more important than reality. You're asking a lender to lend you lots of money. Learn how to assemble a loan package that tells them that you're worth the risk.
If a lender knows he doesn't have the best quote on the table, he will sometimes tweak the quote to make it more competitive. Learn how to tactfully ask a lender to improve his offer without ticking him off.
Learn the "Golden Rule of Lending" and how to use it to your advantage to give your loan the best possible chance to be approved in a timely manner and at the rate and terms shown on the letter of interest.
Trust is everything. It is absolutely vital for getting a loan transaction completed. Learn the benefits of taking advantage of the trust relationship that has already been developed between the mortgage broker and the lender.
There are times in the loan process when things go wrong threatening loan approval. Learn why the mortgage broker, instead of you or the lender's loan officer, is the best person to get things back on track.
Not all mortgage brokers are equally trustworthy, competent and likeable. To determine which mortgage broker is the right one for you find out the right quesstions to ask when interviewing them for the job.