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Financing in Tiburon : Real Estate Advice

  • All41
  • Local Info13
  • Home Buying7
  • Home Selling1
  • Market Conditions2

Activity 2
Thu Sep 13, 2007
Pierre Masquelier answered:
There are many great lenders available in this area. However, going direct to a lender may not always be the best choice. Direct lenders typically do not have the "menu" of loan products that a loan broker can make available to you. If you have a relationship with a bank, such as a Wells or a B of A, and you are comfortable with their service and their ability to provide you with loan product you are looking for, then by all means, utilize their service. However, if you desire options, strong consultations, and service that may be required evenings after or weekends, a mortgage broker may be your best option, as brokers have access to the same loans that the banks offer and also many loans that they dont. ... more
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Tue Sep 11, 2007
Pierre Masquelier answered:
The best deal doesn't always come in the form of the lowest interest rate. Rates can vary between lenders and brokers, and fees can also vary between lenders and brokers. I believe it would be in your best interest to work with 1 broker or lender that you have worked with before or has come to you as a referral. If he or she is a competent lender, they will explain to you how rates are determined, how rates can change day to day, how paying points or not paying points may be best for your situation, and when is the best time to lock the rate. There are many, many facets to mortgage lending that can differ between lenders and brokers, and can vary for borrowers. Don't be afraid to ask the lender how they get paid and how much they will make on your loan. Also, ask for referrences. Full disclosure is important and often overlooked aspect of a good lender/broker. The bottom line should be that you get a loan that will close at the time you need it to close, at the rate that you locked, and at the fee you were quoted. ... more
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