As a Leading Real Estate Agent
in the Manchester NH
area, I wanted to report to you how important it is to work with a local and trusted Loan Officer
as well as a Full time Local and Trusted Agent
. The cost of a Bad Loan Officer is not only in monetary damages but in the possibleÂ denial ofÂ a mortgage for your new dream home.
As a buyer or as a home owner who wants to refinace, your first step should always be to search for a local and trusted loan officer from aÂ bank, credit union or mortgage company. Avoid Internet Lenders at all cost. You want someoneÂ whoÂ has a local office that you can drop off documents or sit face to face to have your questions answered. You should always ask family, friends, co-workers if they have a referral for someone who helped them. If you do notÂ know where to start, your Real Estate agent will be able to guide you and assist you with finding a local loan officer.The next step is to get Pre-Quailified:
Your loan officer shouldÂ pre-quailify you at no cost. This willÂ let you know if there are any mortgages available to youÂ given your financials and credit score. They will break down the down payment requirements, interest ratesÂ and costs of each program.Â Â
You should gather the last 2 years tax retruns, last 2 pay stubs, 3 months of bank statements and a list of all of your income and payments.
It is easier to tell you what constitutes a "GOOD"
Loan Officer a s to what constitutes a "BAD" Loan Officer.A GOOD Loan Officer
A good loan officer shouldÂ be local, Will not charge you any fees to be pre-qualified, Will outline a variety of mortgage programs that may be available, Will list the Pros and Cons of each type of mortgage, Will return your calls, Will assist you through each step of the loan process, Will give you tips of how to get quailified if you do not quailify now.A "BAD" loan officer is one that could be "bad" for you.
A bad loan officer could be hiding behind a web site instead of in a local office, the may not be availiable to answer your questions, theyÂ may not give you options of different types of mortgages, theyÂ may charge you for what is usually free services, theyÂ may not return your calls, they may make excuses instead of providing real answers no matter if it is good or bad news, they may not look out for your best interestsÂ and they may just cost you the opportunity to buy that new home.IN CONCLUSION:
A 'Good" Loan Officer will ask the tough questions up front. It is so important as a buyer looking for a mortgage or a home owner trying to refinance to disclose everythinghÂ "up front" to your loan officer. The Loan officer can assist you in "fixing" or expalining those problems during the mortgage process rather than have an underwrite deny your loan becuase of it.
Some items that need to be disclosed are if you were involved in a bankruptcy, short sale, foreclosure, changed jobs, borrowing or was given any part of your down payment, collection accounts or if you have applied for a mortgage with anyone else recently. When a loan officer is asking you these question, that does not make them mean, hard or bad, it makes them "Good" for looking out for you up front before you spend money and time trying to buy a home.
If you need to sellÂ your home and If you may owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.
Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!PLEASE SEE SOME OF MY MOST POPULAR BLOGS
1. IS A SHORT SALE FOR YOU? Tips and advice for sellers who owe more than their houses are worth.
2. TIPS AND ADVICE FOR BUYING A BANK OWNED HOME
3. CAN I PURCHASE A HOME THAT IS IN FORECLOSURE?
4. FULL LIST OF TIPS AND ADVICE ON GETTING A MORTGAGE
5. TOP 5 WAYS TO KNOW IF "NOW" IS THE TIME TO BUY A HOME
6. 5 MYTH'S ABOUT TODAY'S REAL ESTATE MARKET
7. SHOULD A BUYER USE MORE THAN 1 AGENT TO BUY A HOME?
8. TIPS AND ADVICE FOR BUYING A SHORT SALE
9. ARE BUYERS WAGING WAR AGAINST SELLERS?
10. DO YOU OWE MORE THAN YOUR HOUSE IS WORTH?
If you are looking to purchase a short sale or If you owe more than your house is worth, i may be able to help. Please try and avoid out of state or out of town agents and companies that make out of this world promises. We are local agents with experience who never charge any up front fees.
ONE OF NEW HAMPSHIRE'S LEADING BANK OWNED REAL ESTATE AGENTS
UpdatedÂ Nov. 12, 2011
Copyright 2008-2011, All rights reserved
Godzyk Realty Group
One of New Hampshire's Leading REO Brokerswww.ScottSellsNH.com