My husband and I are buying our first home. It HUD owned and we just got our contract back and are awaiting

Asked by Kate, Ohio Sat Jun 28, 2008

our inspection. We used the broker our realtor uses because he got us a good interest rate and loan and helped us with the first time homebuyer's program our city has. I know this is too late now, but even after our offer was accepted was that too late to switch lenders? I ask this because although our lender was polite and nice at first, he has since delayed in returning phone calls, used his partners to call us instead of him, and just overall not been someone I feel I can trust. Our rates are locked in, we have our good faith estimate and are very happy with the numbers but I do not feel as secure about this process because of his recent behavior. Should we say something?

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Sun Jun 29, 2008

I agree with Jody's answer....

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1 vote
Lisa Farmer, Agent, Flowery Branch, GA
Sun Jun 29, 2008
If you have concerns about the lender that your Realtor recommended, I would suggest that you contact your Realtor right away. You are already locked into your rate and it sounds like the loan process is pretty far along. If you are happy with the terms and the rate, it would be best if you can get things worked out with your current lender. My guess is that it will only take a phone call from your Realtor to get the lender back on track.
Best wishes!
Lisa Farmer
Keller Williams Lanier Partners
Gainesville, GA
0 votes
Maria Morton, Agent, Kansas City, MO
Sun Jun 29, 2008
First, you could ask your realtor to find out why your mortgage broker is not responding in a timely fashion. Second, it's not too late. You can get a second opinion. You can even change lenders as long as the loan is in place before closing. (Don't drop this one until you have the new one in place) But try to open up the lines of communication before doing anything rash. Maybe something has happened to cause your broker to behave strangely.
0 votes
Jody Jones, Agent, Elkhart, IN
Sat Jun 28, 2008
At this point, as long as you are happy with your numbers, your rate is locked in and the process is moving along in a timely manner, I would sit tight. Have you asked your Realtor to get in touch with the mortgage broker to get your questions answered? You should have your final HUD statement from the closing /title company at least 24hrs in advance of your closing. If there are any questions or "surprises" on it that you are not expecting, get answers prior to signing the papers. Once you get that final HUD statement, there should be no other changes.

Good luck and enjoy that new home!
Jody Jones
Century 21 Landmark
Elkhart, IN
0 votes
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