Home Buying in 90802>Question Details

sarahdeah, Renter in Carrollton, TX

I was denied prequalification on a home loan. Said I could come in and fill out a home loan application, talk to a rep, for a fee. Will this help?

Asked by sarahdeah, Carrollton, TX Sat Oct 20, 2012

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14
Best place to start is to hire an Exclusive Buyer Agent to represent you. EBAs represent home buyers only, and work to get you the best price and most favorable terms. You can go to NAEBA.org for a referral to an EBA in your area.

There is a book on Amaon called a"Buying a Home: Don't Let Them Make a Monkey Out of You". It will be the best few bucks you've ever spent. Follow the link below.
0 votes Thank Flag Link Wed May 8, 2013
I can't totally advise you, without knowing all the facts of this case, BUT, I would be careful about paying fees. Lenders and RE people are paid very well for successful transactions. In Texas, it might be customary. Here in CA, it is not.

If it turns out that you can't buy a house by financing it, don`t give up. There are other ways.
0 votes Thank Flag Link Wed May 8, 2013
No Talk to one of the reputable mortgage lenders here on Zillow. You shouldn't have to pay a fee to get pre-qualified
0 votes Thank Flag Link Mon Mar 4, 2013
Hello Sarahdeah,

The rep should be willing to speak with you initally without charging you a fee.

Best of lcuk to you,

Kawain Payne, Realtor
0 votes Thank Flag Link Wed Nov 28, 2012
Hello Sarah,

I am a Mortgage Consultant with Platinum Mortgage and we do FICOs as low as 580 and non-occupying co-borrower. We have also dowpayment assistance programs. We even work with you if you have old collections on your credit record (conditions apply). You need to contact someone that will take the time to check your possibilities or in the worst case scenario, provide a path for you to be able to qualify. We do this also with a re-score that will be able to tell you which accounts to pay and how much so you can qualify.

Please answer a few questions on this link http://www.lamortgagehomeloans.com/Loans/purchase.html and and send the email to me that I will be able to give an idea without a credit check. You can contact me by phone or visit our office so that I will be able to check all the possibilities.

Best Regards,

Celso Neves
Mortgage Consultant NMLS 829964
Platinum Home Mortgage
Ph. 562 704 1651
Fax 424 702 0322
http://www.lamortgagehomeloans.com
http://www.ephmc.com
8129 Florence Ave Suite 202
Downey, CA 90240
0 votes Thank Flag Link Wed Nov 28, 2012
Getting approved for a loan should never require a fee. Why were you denied a loan? Take a good look at why you were denied and begin working to correct whatever issues caused your application to be denied. Perhaps you may need to pay down some debt, which is not a bad idea anyway. Maybe your credit score were a bit lower than required. You can begin working on raising your fico scores. Maybe you are too new on your job.

Bottom line, work on whatever made your loan app be denied and then try again at a later date, but never ever ever pay for loan pr approval.

Best of luck to you,
Kawain Payne, Realor
0 votes Thank Flag Link Thu Oct 25, 2012
Hi Sarah,

When people are asking you for money upfront for real estate or mortgage-related services, RUN! It is your right to obtain a copy of your credit report if you paid someone to a fee for the credit check, and you also get one free annual credit report at http://www.annualcreditreport.com. Don't be duped by the other sites that want to charge you for some monthly credit monitoring program.

If you want some general information and resources on improving your credit scores, mortgage rates, mortgage calculators, bankrate.com is a great website. Please contact me if you want a referral for a reputable lender. I specialize in real estate in Long Beach, CA, as well as areas of LA and Orange County.

Best of luck to you, and let me know if I can help you find a home!
0 votes Thank Flag Link Mon Oct 22, 2012
If you are looking to purchase in California, I can refer you to a lender that will not charge an upfront fee.
0 votes Thank Flag Link Sun Oct 21, 2012
Are you buying in CA or TX?
In Ca generally speaking you don't hand out money.
Some may ask for a credit report fee many do not.

Harold Sharpe - Broker
So Cal Homes
(951) 821-8211
harold@socalhomes.biz
http://www.socalhomes.biz
California Department of Real Estate Broker License # 01312992
0 votes Thank Flag Link Sat Oct 20, 2012
It is OK to pay for your credit report and keep a copy of it. It is often about $20 more or less.
0 votes Thank Flag Link Sat Oct 20, 2012
Hello Sarah,

Please feel free to contact my lender directly. There are no fees and he will guide/advise you on the directions/steps to take.
Lionel Punchard
FRMC Mortage
NMLS# 245755
Phone: (800) 266-2109
Cell: (949) 244-5008
Fax: (949) 365-1116



Best regards,
DJ Bonner
Keller Williams Realty
djbonner@kw.com
0 votes Thank Flag Link Sat Oct 20, 2012
Hi Sarah: There should NEVER be a fee for a mortgage consultation or prequalification. If you are being charged a small fee for a credit report, then that would make sense. Otherwise, there should be no fee if they're a reputable lender.
Please contact me if you would like assistance, as I do offer assistance to those with credit challenges. I hope this has helped :)
0 votes Thank Flag Link Sat Oct 20, 2012
Hi Sarah,
I would not pay a fee to speak to a loan rep. Perhaps you could try another lender and see if they can counsel you on how to get your credit and other qualifying criteria in line so that you can qualify for a loan soon.
Good luck,
Karen
0 votes Thank Flag Link Sat Oct 20, 2012
Pre-Qual isn't worth anything anyway.
You should expect a fee, for the Credit Report; they have to pay for it.

Good luck and may God bless
0 votes Thank Flag Link Sat Oct 20, 2012
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