Home Buying in Granada Hills>Question Details

Terry, Home Buyer in North Hills, CA

I was just pre-approved by bank Chase, then read all the horrible reviews from other customers, is it better to stick with direct lenders?

Asked by Terry, North Hills, CA Sun May 27, 2012

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4
I have worked with Chase before and they took longer than expected. I work with a direct lender in the area that I can refer you to. They have competitive rates and can close very fast.

Let me know if you have any questions.

Thank you

Jhon Cordova Realtor®, Acredited REO Agent™
CA DRE Lic #: 01817265
Tel: (818) 968-1691| Fax: (818) 923-5201
Search for Homes at http://www.jhoncordova.com
0 votes Thank Flag Link Tue May 29, 2012
That's a toss up. Direct lenders tend to be much faster in getting loans done and homes closed with less red tape.

Whenever dealing with a large corporate entity such as Chase, there are always more layers to get through and harder to get things done. The last time I worked with a Chase loan, it was difficult and we did close late.

Perhaps you shoud interview 2-3 different lenders, compare rates, costs, etc and then make your down decision. I would also ask your Realtor who who he or she recommends.
0 votes Thank Flag Link Sun May 27, 2012
I would. I much prefer a lender who specializes in writing mortgages rather than one who is also concerned with depositors, investors, auto loans and so on. I think you will have a better experience with someone whose only business is the mortgage business.
0 votes Thank Flag Link Sun May 27, 2012
If you're not defaulting on loan with Chase, they're a fine bank, same as BofA, Wells Fargo, etc. If you love them by making payments on time, they'll be your best friend. It's only when you're in trouble & need a loan modification that they don't care & they're not your buddy anymore.

Shoot me an email directly if you'd like to talk to me some more. I don't look back on this same Trulia thread for answers posted after mine.


EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
0 votes Thank Flag Link Sun May 27, 2012
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