It’s not all about rate!
When you are shopping for a lender, keep in mind that when the transaction doesn’t close on time, nobody wins.
When your loan doesn’t close on time
- Financing contingency lapse
- Seller unwilling to extend
- Losing earnest money
- Per diem seller charge (IF they agree to extend)
- Losing to a back-up offer
- Lock extension costs
- Altered moving plans
- Temporary housing costs
When the financing piece of your transaction doesn’t close on time, there are many unintended consequences — beyond the fact that the property is now out of contract.
Many national banks and lenders are unable to perform and close loans in a timely fashion. Be sure to work with a Mortgage Lender that you can trust and has a good track record of closing on time.
Be very cautious of using on-line lenders.
- Local Lending
- Local Decisions
- Local People
If you are looking to purchase a home, I would be happy to help you out. I can also refer you to a local lender that will sit down with you to review your real estate needs and goals to help find you the best home loan.
Happy House Hunting!
Pam McCoy, Realtor(r)