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Is there any benefit to using a real estate agency's lenders?

by joriesways76523673 from Agoura Hills, California. Aug 15th 2014 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,930 contributions

Your Real Estate Agent will talk to you about how easy it is to work with their people, or how they trust their own people. The reality is they are trying to direct you there so their company can make more money. It is always about the money, and nothing else. I go up against this situation every single day, and more often than not, we are able to offer the home buyer a better deal than the Realtors lender. My VERY STRONG ADVICE is to SHOP with AT LEAST one other mortgage company, and then go with the better offer - REGARDLESS of what pressure the agent puts on you. YOU are the one getting the loan and making the payments - so YOU make the lender decision. In MN, WI, and SD, visit www.MortgagesUnlimited.biz

Aug 18th 2014
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Barb Lanis (BarbLanis)
#71 ranked lender in Illinois - 663 contributions

You should always interview a few lenders. It's important that you and your loan officer are a good match. If your real estate agent has an individual that they trust to get the deal closed, that's someone to put on your interview list. However, if the lending company is an affiliate of the agency, I would avoid that.

Aug 15th 2014
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Chris Gummerson (cgummerson11)
#396 ranked lender in California - 648 contributions

Sometimes sellers will try to make buyers use a specific lender, but you have the choice to use anyone you wish. It is best to make sure you are getting the best deal by looking at a few lender. I would be happy to look over your options for you. I lend in CA and I am located in Orange County.

Aug 15th 2014
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MIKE CONVIN (mconvin)
#6 ranked lender in Delaware - 202 contributions

hi:Sometimes the real estate agency is partnered up with their own lender in the officer..You should get a quote/closing costs and asks all questions u can... Lending Nationwide (Mike 703 505 5300) NMLS 754875..Let us know how we may earn your business.

Aug 16th 2014
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Larry Gray (lgray_312_247)
#595 ranked lender in California - 1,139 contributions

All excellent answers here from yesterday! The one real benefit is the integrity and the trust of your real estate agent. If you have a respected experienced real estate agent who has a lot of experience with recommending lenders, then that is a real plus for the lending agent. You definitely should give that weight in your selection process. Often though with an agent in the real estate office or strongly affiliated with that office, they may simply be offering them up as a convenience and be able to recommend another lending agent at the same time. The real estate agent wants someone working for you who instills confidence in getting the deal done. At the same time you want to make sure you get a competent lender and the best deal you can!

Aug 16th 2014
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Sean Young (SeanYoung)
#1 ranked lender in Colorado - 1,112 contributions

Always check for references and testimonials in my opinion. Realtors often have some good relationships with some great lenders and they can be a great resource. However, it's always good to work with someone you trust, get along with and communicates with you often. Best wishes, Sean

Aug 17th 2014
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