Should I use a Realtor Preferred Lender on a Santa Fe Property?
After you approach your trusted expert on home buying finance, they may offer you a few tips on what is expected of you by the mortgage lending company which gives you an added privilege. However, the sales expert does not just stop on their informative advise. Actually, the ultimate thing a mortgage expert can give you a recommendation on the mortgage company and loan that suits your needs second to none. In most cases, the Lender that your realtor suggests is the best in the market or popular in offering a certain type of mortgage. If you are still at crossroads, wondering whether to follow your heart or your realtor’s advice, reading through this article might eliminate most of your fears.
Approaching the home loan lending service suggested by your realtor saves you time. The overall process of application, home searching and approval meets a deadline of between one to two months. The pre-approval process goes for one to three weeks. However, this time gap is narrowed if you are pre-approved by your professional expert. The direct referral to a mortgage lender is therefore more appealing than spending a day, a week or even a month to get to a better company to give you a mortgage loan.
Choosing a realtor preferred lender may also keep you from falling into the exploitation basket. For instance, you may underrate the tips by your mortgage loan expert and go looking for mortgage offers which may end up costing you a high amount of interest and unfavorable terms of repayment. This, however, could have been prevented if you chose a reliable company recommended by the realtor.
The recommended financing company may have outstanding deals for its loaners. Such offers could be minimum to no down payment, slashed rates on interest, little mortgage insurance, and maybe taking an exceptionally low credit score. With further interaction or search, you might also find out that it is easier to apply since there are only a few restrictions compared to the counterparts.
In some cases, a pre-approved applicant may establish a long-lasting bond with their lender compared to the one a total beginner who does not consider consulting a realtor for a better referral. Such a bond is made possible by a quick qualification process and follow-up which leads to time saving and signing up of a purchase agreement by both lender and seller. Such customer satisfaction is a quality that forms the base for a desired customer-lender relationship and the latter may keep coming back for better offers.
Most realtor preferred lending companies in Santa Fe often have quick application procedures in addition to their efficiency. They may provide diverse options such as online filling of mortgage forms, handwritten applications and through calling (or phone). This could make it accessible to almost anyone in the city and its surrounding areas.
While most recommendations made by these experts remain legitimate, efficient and promising to the home buyers, it is always good to give it a second thought. You might not know the endless opportunities that the stated home loan lender holds for you! Combining this with how a Santa Fe Realtor can help you in your housing search you are well on your way to your new home!