Do you personally know the Broker or have track record of their performance? it is difficult for anyone to give you a better answer without details. Just to let you know that I've had great results with a Wells Fargo team, who has closed an escrow for our clients within 2 weeks when BofA fell out. If the loan does not close by the designated time and it is their fault, they will actually pay for 1 month of your mortgage. Now that is faith and quality at its best. Contact me if you like to give that team a try. (626) 715-0992
your best bet is to ask how long the person has been working with the company they are with and ask for references you can call to confirm they have closed in 30 days or less ,
i would not work with anyone if it is less then two years expereience with the same company. you would not want them learning on your file this could cause you a lot of grief
it is the mortgage business and nothing is a deal till it closes
you could call me if you want discuss further i am very knowledgeable on both sides i worked for bank of america for 5 years and worked for a mortgage broker for 2 years and also worked for non federally chareted bank for one year i have been around the block a few times 516.233.4842
Happy funding, Rudi
I agree with Jerry below. Go with the lender who is most accountable and responsive. It is very tough to go wrong in those situations. I would love to solicit your business as well, but I think for your stress level's sake, you've done enough thinking about this and you've found your match. I will just say that if you have any questions, feel free to ask and I'm happy to help. I'm a direct lender in CA and I'm with RPM Mortgage.
Best of luck!
You just answered your own question. Just make sure you stay on top of him with rates. We have had an ugly 10 days in the MBS market and ther are no signs of it getting better. Good luck to you, and your Celtics.
In my opinion, an excellent mortgage broker can manage the process in a more timely manner. In my experience, a mortgage broker has been able to beat any bank's quote on rates and fees.
May I ask why you narrowed it to the sellers lender and your bank?
I had a client with almost perfect credit (it was stellar) and their income would actually allow them to purchase at a much higher price. The house they selected required them to go with the seller's lender. Well the seller's lender delayed the process. Luckily the contract stated that there would be no daily charges if the delay was due to the seller's lender. (hope this tid bit helps)
Best of luck to you! Keep us updated!
Prudential CA Realty
PS I have a mortgage broker I would highly recommend if you need to check with one more.
Your broker will give you better service, better rates, and will be able to take care of any issues much quicker than Bank of America. Without any snags, 30 days is no problem for a close time for a broker, but you just never know with B of A.
Lakers vs. Celtics tonight. Dont miss it!!!!