What difference does a lender make? Aren’t they all the same?
George Lorimer
Saturday, November 17, 2018
Nope. Not even close.
Here is a recent example- we have a unique property type that we are selling here in San Diego. A couple of lenders told us “FACTS” on why it couldn’t be financed.
(Click here) to get a free report on Best Financing a 3-Point Plan.
After a couple of days or research and pulling the title report, the homeowners association rules, and looking up the past sales and talking to the lenders that had financed transactions there, we were able to get an offer accepted on a property our client is SUPER EXCITED about.
We were also able to help another client buy a house and was able to get an incredibly great deal on a fixed jumbo loan of 4.375% for 30 years.
Anyways, my team is in the thick of real estate transactions and can help you guide through the best loans for your situation. (WE DON’T DO LOANS…BUT WE DO A LOT OF BUSINESS AND CAN GET YOU A SOLUTION).
Some lenders are well-suited for certain properties and some lenders are well-suited for certain types of buyers.
(Click here) to FIND OUT WHAT THE HOME DOWN THE STREET SOLD FOR.
Here are some generalizations about different institutions.
Credit Unions- members love them. They are not great to buy a home with if you need the closing to be in under 30 days or if the property is a little unique or the condo is a bit out of the norms.
Banks- good prices, very picky about doing mortgages. There are the normal guidelines- Fannie Mae and Freddie Mac. In addition to this, Banks have another layer of red tape called "overlays" to protect banks and their investors. Good for them, harder to get the loan for you.
Portfolio Lenders- usually for more affluent clients and jumbo loans. If you have assets, these are a good choice.
Mortgage Lenders- Direct Lenders- These are good because they usually offer buyers the most programs. May not be able to compete with a specific lender, bank or credit union for their programs. (This is a good place to start).
FHA/VA and downpayment assistance- we work with buyers and sellers every week and can help you get in touch with the best lender for you.
Call me today to discuss your situation on buying, selling, investing or financing your property. George Lorimer 619-846-1244.
Here is a recent example- we have a unique property type that we are selling here in San Diego. A couple of lenders told us “FACTS” on why it couldn’t be financed.
(Click here) to get a free report on Best Financing a 3-Point Plan.
After a couple of days or research and pulling the title report, the homeowners association rules, and looking up the past sales and talking to the lenders that had financed transactions there, we were able to get an offer accepted on a property our client is SUPER EXCITED about.
We were also able to help another client buy a house and was able to get an incredibly great deal on a fixed jumbo loan of 4.375% for 30 years.
Anyways, my team is in the thick of real estate transactions and can help you guide through the best loans for your situation. (WE DON’T DO LOANS…BUT WE DO A LOT OF BUSINESS AND CAN GET YOU A SOLUTION).
Some lenders are well-suited for certain properties and some lenders are well-suited for certain types of buyers.
(Click here) to FIND OUT WHAT THE HOME DOWN THE STREET SOLD FOR.
Here are some generalizations about different institutions.
Credit Unions- members love them. They are not great to buy a home with if you need the closing to be in under 30 days or if the property is a little unique or the condo is a bit out of the norms.
Banks- good prices, very picky about doing mortgages. There are the normal guidelines- Fannie Mae and Freddie Mac. In addition to this, Banks have another layer of red tape called "overlays" to protect banks and their investors. Good for them, harder to get the loan for you.
Portfolio Lenders- usually for more affluent clients and jumbo loans. If you have assets, these are a good choice.
Mortgage Lenders- Direct Lenders- These are good because they usually offer buyers the most programs. May not be able to compete with a specific lender, bank or credit union for their programs. (This is a good place to start).
FHA/VA and downpayment assistance- we work with buyers and sellers every week and can help you get in touch with the best lender for you.
Call me today to discuss your situation on buying, selling, investing or financing your property. George Lorimer 619-846-1244.
We would like to hear from you! If you have any questions, please do not hesitate to contact us. We are always looking forward to hearing from you! We will do our best to reply to you within 24 hours !