What makes a Good Loan Broker? Is it the interest rate? Is
it theÂ fees? Is it the person?
This post was inspired by a great article in the Los Angeles
Times about lenders.Â The LA Times wrote http://www.latimes.com/business/la-fi-lew-20121104,0,1612782.storyÂ that more
than 30 per cent of potential buyers would be willing to pay more to get superior
These made me think, if you are a buyer, why not get both, good service and low fees,
because you can? Hence I suggest the solution is easy: Â contact your Realtor with whom you are working
with and that Realtor will introduce you to a great Loan Officer. There is no
payback or gifts from the Lender to the Realtor. There is no ulterior motive.
There is only one incentive: The Realtor
wants to make sure that you get the best possible loan for your situation and
it will close on time, because only then will the Realtor get paid. Once
the buyer closes on the transaction and the buyer is happy that will than
insure future referrals from the buyerâ€™s circle of influence?
So what makes a good
Loan Broker? In my opinion it is one who stands out from the crowd? To me a
good Loan Officer is one, who provides you with the best possible service on a
consistent basis throughout the Escrow Period. That means someone who is
available for your questions with professional and fast answers. A good Loan
Officer, just like a good Realtor can be reachable weekends and weekdays
including off hours to answer your questions.
Letâ€™s face it most of the programs are available to most
lenders with the exception of the Bankâ€™s Loan Officers. (Their product is
limited to what that Bank has to offer) On the other hand, what you need is someone who can give you good advice based
on understanding the Political and Economic lay of the land. A good lender
can give you good advice of what program will best suit your needs and in
addition can advise you when to lock in
the rates and when not to.
Word of caution: If
a buyer does not listen to their Realtorâ€™s recommendation and goes with some
other lender, they might be doing a huge disservice to themselves and it could
cost them more than just higher fees. I t could cost them missing out on the
property and or getting a loan program that might regret receiving later.
If you are a consumer who is considering
buying or selling a home, investment real estate, vacation homes, or beach
properties in Southern California, Los Angeles, Century City, Westwood, West
Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel
Free to give me a call at 310.486.1002 or emails me at email@example.com or visit one of my websites at http://www.endrebarath.com Your Pet
Friendly Realtor. I contribute a portion of my commission to
Local Animal Rescue Organizations.