Home Buying in Orlando>Question Details

Alison Hillm…, Other/Just Looking in San Francisco, CA

Popular question in other cities, how does one choose a mortgage company?

Asked by Alison Hillman, San Francisco, CA Fri Jul 13, 2012

Is this based on location? Does it matter where they are located ?

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Answers

3
Sylvia Paul, Agent, Orlando, FL It usually doesn't matter where the lender is located. Shop around and see who has the best deal. I would suggest a direct lender, a mortgage company and finally a broker. However, be careful about your timing with each inquiry because after a period of time (I believe it's 30 days) each subsequent credit check could negatively impact your credit score. A direct lender will allow you to sit down at the table with your lender whereas you might never meet one-on-one with the lender if using a mortgage company. Depends on your preference but it certainly doesn't hurt to have someone you can trust and that you would feel comfortable working with. I can help you in this regard or you can just ask around. Hope this helps. If I can assist you further feel free to call or email me. (407) 864-3139, sylvia@sylviapaulrocks.com. Good luck to you!

Sylvia Paul
Realty Center
Orlando, Florida
2 votes Thank Flag Link Fri Jul 13, 2012
Hi Alison, I know that we all want to be given the best service possible and in this case, bigger is not always better. I would stick with smaller local banks in your area, look into Trustco Bank, who you can begin a relationship with and see if they hold the mtg or will be selling it. Difference is that if it is sold, you loose all contact with who is handling your account and that personal touch. In a small local bank you can walk in and usually speak with the loan officer directly, rather than a customer service hotline.
If you are buying out of state property I would contact a buyers agent and see who they (I ) can recommend in my area to handle your financing needs.

Either way you should always use a Buyers agent and sign a buyers agreement with and agent after interviewing a few or go on recommendations of family / friends to choose one.


I hope this was helpful.

Brian Mahoney
RE/MAX
Orlando, Fl.
848-448-0333
downtownremax@gmail.com
1 vote Thank Flag Link Mon Jul 16, 2012
Alison,

I'd go with whoever Sylvia recommends. She really rocks.

Carl Head
0 votes Thank Flag Link Fri Jul 13, 2012
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