Home Buying in 28202>Question Details

Bob Sewicki, Home Buyer in Charlotte, NC

Can I get a new loan officer?

Asked by Bob Sewicki, Charlotte, NC Mon Jul 15, 2013

If i terminated my contract close to closing. Am I allowed to get a new loan officer/company for my next purchase? I just wanted to confirm, because I know I signed a buyer agreement with my realtor, but is that the same for a loan officer? I dont remember signing anything like that or have heard of such thing.

Help the community by answering this question:


Hi Bob, you've posted several questions on here that if you had a good Realtor, you wouldn't have to ask. You can switch lenders in the middle of due doligence if you want, you just have to be sure the contract dates can still be met. Find a good Realtor and I think your problem os solved. http://www.debbieviscount.com
1 vote Thank Flag Link Mon Jul 15, 2013

With lenders you can shop around. They do not have the same agreement that a Realtor has with a termination of contract. In fact I recommend most people talk to at least two different lenders to see what they can get and compare rates and fees.

You may want to keep that loan officer for now until you find another home and get a second quite and compare the two to see if one is better than the other.

Dave diCecco
Coldwell Banker United
1 vote Thank Flag Link Mon Jul 15, 2013
You may shop around for lenders. There is no agreement with a loan officer to remain with them. There are many lenders that have no origination fee or a small one. Ask your agent whom they have worked with that has provided good service and low fees.
Great Question.

Ellis Group Realty, Inc.
Candace Ellis
Broker in Charge
Let 28+ years experience work for YOU!
1 vote Thank Flag Link Mon Jul 15, 2013
Larry is right on the money! Feel free to shop around, just as you would insurance, etc. call me if you need anything at all!

Michael Bowman
Benham Real Estate Group
1 vote Thank Flag Link Mon Jul 15, 2013
Yes you can. You may even be able to have them transfer your file.
Web Reference: http://Www.jonnyagent.com
1 vote Thank Flag Link Mon Jul 15, 2013
There are no loan agreement contracts so yes you may get a new lender for your next offer if you wish to.
1 vote Thank Flag Link Mon Jul 15, 2013
Good afternoon, Bob:
Loan officers generally don't have you sign an exclusive agreement with them, but many work very hard to try to get your loan closed and loans are very difficult to get through underwriting. You can probably start fresh with a new loan officer or even a new lender, but if the rates and terms are very good, you might try to work things out. If you appreciate an answer, please give thumbs up. For the most helpful answer, please say thanks with a best answer click.
0 votes Thank Flag Link Tue Jul 16, 2013
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