For pre-approval to get competitive rates, is it advisable to get pre-approved on my own or go through a realtor.?

Asked by ltu2003, Troy, MI Sat May 25, 2013

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Tony Grech’s answer
Tony Grech, Mortgage Broker Or Lender, Southfield, MI
Sun May 26, 2013
You should check with two or three sources - your bank or credit union and a referral from your realtor or friends and family are good places to start.

Just as important as rate and fees are being able to fit you into the proper program and the ability to get your loan closed with no surprises. Most lenders should be pretty close on terms. Select who you feel most comfortable with.

I'd be glad to throw my hat in the ring and provide you with a quote. I'm local,reputable, and have the ability to both lend direct OR broker your loan to get you the best terms.

Feel free to email me or give me a call at 313-622-7283

0 votes
Ron Ristovski, Both Buyer And Seller, Troy, MI
Sat May 25, 2013

The lender is your choice. The key aspects to be asked is to understand how much experience the lender has with your type of property value, type of loan and other factors like when the property was re-sold (Buy-renovate-resell type of houses). How responsive they are? How quick they can complete the closing? How many appraisals they do? Origination or other fees?

Good luck,
1 vote
Marie Souza…, Agent, Centerville, MA
Fri Dec 6, 2013
How did you make out on the above? Give us an update!
0 votes
Pam Bava, Agent, Rochester, MI
Fri May 31, 2013
You really should not talk about financing with a Realtor until you have signed an agency relationship and know that they will be representing your best interest. A realtor can give you referrals to contact or you can visit any bank on your own to get pre qualified. Remember banks will have different programs.
0 votes
Margo Borkin, Agent, West Bloomfield, MI
Wed May 29, 2013
Both! Check with the bank you do your primary bank at and also ask your realtor who they work closely with. They will know how is trustworthy and able to close things on time. Its good to get 2-3 opinions and you can ask them for a "closing cost estimate". Then see who has the best bottom line for you.

Margo Borkin
Real Estate One

$10,000,000 Sold in 2012
6960 Orchard Lake #150 West Bloomfield, MI 48322 | 248-419-3133 | 248-419-0930 fax
2012 Hour Magazine Real Estate ALL STAR - Presidents Council of Excellence
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0 votes
Dennis Evans, Agent, Clifton Park, NY
Mon May 27, 2013
it is best to check with any place that you do business first... I agree that Credit Unions are also a good source... But get advice from friends and family as well...
Lots of great opportunities as interest rates are so low....
0 votes
Vera Gonzalez, Agent, Sterling Heights, MI
Sat May 25, 2013

I always suggest you start with your bank or credit union first , they know you best! You should also consider their fees. Ultimately the choice is up to you. I

0 votes
Karen Paytas, Agent, Clinton Twp, MI
Sat May 25, 2013
If you have a lender you are comfortable working with or have a relationship with it's okay to go on your own. Sometimes, depending on the situation a Realtor can suggest some lenders that might be offering incentives. Choosing a lender is totally up to you as the buyer we can only suggest.

If you need the assistance of a buyer's agent I would be happy to assist.

Good Luck!

Karen Paytas, GRI, CMS
Real Living Kee Realty
0 votes
Marie Souza…, Agent, Centerville, MA
Sat May 25, 2013
A Realtor may know about certain loan programs & be able to give you general advice about which company does loans in your area, as well as a mortgage person who is stellar. Think of them as a point of reference.
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