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Asked by Carly, Los Angeles, CA Tue Apr 27, 2010

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Answers

9
Kent Gagon, Agent, Chandler, AZ
Tue Apr 27, 2010
Carly,
First question, who referred you to this person, or where did you find him/her? If you are having this much trouble with them now I cannot imagine it is going to get any better as you progress through the process of buying a home. You might want to contact someone else? Just a suggestion...probably what I would do.
Good luck
1 vote
Maria Morton, Agent, Kansas City, MO
Tue Apr 27, 2010
Realtors do not receive compensation from lenders we refer. We refer buyers to lenders who have proven to be reliable. You would be surprised at how many lenders do not get the job done right in a timely manner. For my buyers, I want a lender who communicates well, returns phone calls & emails in a timely manner, completes the paperwork accurately & in a timely manner and closes on time every time.
0 votes
Deborah Brem…, Agent, Los Angeles, CA
Tue Apr 27, 2010
Hi Carly,
You raised one of the most important points about choosing a lender when you stated, "this lender was listed on the CAFHA 's website list of approve lenders who are supposed to be familiar with this type of loan/assistance programs etc. That is how I found them."

The best way to get a good provider, whether it's a Realtor, Escrow or Title officer, or lender, is by a trusted recommendation. Many websites offer "pay to play" recommendations, and although a lender may be advertising, there may be no one overseeing the quality of the recommended agents.

If your loan agent isn't serving you, it's time to move on. Every buyer deserves outstanding service.

Best,
Deborah Bremner
REALTOR, 00588885
(D) 818.564.6591
TheBremnerGroup@gmail.com
Blogging at: http://TheBremnerGroup.com/blog
0 votes
Carly, Home Buyer, Los Angeles, CA
Tue Apr 27, 2010
Well the Company is GUILD MORTGAGE- I am wondering if I should try another branch since they are a CFHA lender or someone else completely.
0 votes
Barbara Van…, , Folsom, CA
Tue Apr 27, 2010
Hi Carly -

Not a good sign going forward if you're not happy with the loan officer's communication or information.

As far as CHDAP goes, the borrower needs to bring 3 percent of their own money to the deal. Make sure you qualify based on income and property location too. Check out more info at: http://www.calhfa.ca.gov/homeownership/programs/chdap

An FHA loan allows the entire 3.5 percent down payment to be "gifted" from a relative. Then consider the possibility of covering your closing costs with a combination of seller credits (if available in your market) PLUS a "lender rebate" of up to 3 percent. In either case, there are no income limits, geographical requirements or first time home buyer requirement like there is with CHDAP.

All the Best,
Barbara
0 votes
Lynn Le Glai…, Agent, Los Angeles, CA
Tue Apr 27, 2010
Hi Carly,

I agree with the other two responses: if it's this much trouble getting a hold of the lender now, wait till you're in the middle of escrow and you really need the answers. I think you should talk to a couple of other lenders. I work with a couple who are really on top of things and well acquainted with FHA and CalFHA, etc. if you'd like me to pass on their numbers, shoot me an email. A noon-responsive lender is really no fun.

Yours,
Lynn LeGlaire
keller Williams Realty
323-219-4480
lynnleglaire@kw.com
Web Reference:  http://www.lynnleglaire.com
0 votes
Paul Argueta, Agent, West Hollywood, CA
Tue Apr 27, 2010
FIRE THEM! I have ZERO tolerance for agents that don't return calls, LET ALONE EMAILS. We are living in the information & communication age. People have Iphones, Blackberry(ies?), and tons of other options. If someone in my field doesn't return EMAILS the same day (without a valid explanation or pre-agreed time-frame) I choose to NOT do business with them and I HOLD MYSELF BY MY SAME STANDARD. Don't get me wrong, I've had to learn it the hard way...I used to be that guy who got fired for not returning calls or emails. He/She will learn the hard way too.
Web Reference:  http://www.REHcorp.com
0 votes
Carly, Home Buyer, Los Angeles, CA
Tue Apr 27, 2010
Hi, i forgot to add that this lender was listed on the CAFHA 's website list of approve lenders who are supposed to be familiar with this type of loan/assistance programs etc. That is how I found them.
0 votes
Matthew Bart…, Agent, Glendora, CA
Tue Apr 27, 2010
Hi Carly,

I would have to agree with Kent as well. You should interview 1 or 2 other prospective Lenders. This will give you more flexability. And most importantly, if you do not feel comfortable that this Lender is representing you to the best of their ability then you have all the more reason to find a new Lender. Best of luck!

Matt
0 votes
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