Ok, where do I start the mortgage process now? Do I work with a broker? Do I go to my bank? Is a close in?

Asked by Esue, Mon Jul 21, 2008

less than 4 weeks realistic? My friends have used brokers and now I don't know where to start.

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Will, , Atlanta, GA
Mon Jul 21, 2008
Great question indeed Esue. As a lender myself, I would recommend trying both. Have them provide you with a GFE for starts so you can compare rate and cost of the loan.

This is the easiest way to determine the best deal.

Will
Wells Fargo Home Mortgage
willis.addo@wellsfargo.com
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Nato Ruiz, Agent, Sacramento, CA
Mon Jul 21, 2008
Hi Esue. That is a great question. I would recommend to look at both your bank and a broker because you will have more options in the end. If you have a good relationship with your bank and there's someone you trust there, start there and see what options are available for you. One advantage of going with a reputable broker is that, brokers have many lenders who they can turn to to meet a client's specific needs. If they can't find a loan for a client with one lender, there are others who they can turn to to get what you need. With either option, your bank or a broker, make sure that the person who will help you is knowledgeable about mortgages. There have been many recent changes in the lending landscape and if the person you choose to work with is not up to date on these changes, it can make the difference of getting approved or not getting approved and it could mean the ability to actually close your loan and getting your home, or failing to do so in the end.

As for a 4 week close being realistic, yes, that is still viable and doable, again, provided that whomever is helping you, has the proper knowledge to put your deal together to get it done in a timely manner.

I hope this helps.

-Nato Ruiz
916-284-0101
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