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Recommendations on Loan Types

Are certain loan products better than others in different states? Like a HUD vs. a 30-year fixed in New York? by mahbub791 from Bedford, New York. Jan 25th 2019 Reply

Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,703 contributions

NO, not based on states, but different loans may be better or worse for you depending on your own personal situation. A review of your application, and a conversation with a professional Loan Officer about your wants, needs, and goals will help determine which mortgage loan program is best for you. Start by reaching out to a local mortgage broker in your area (stay away from banks and big internet lenders). I lend in WI, MN, and SD, and can be reached at NMLS274132

Jan 27th 2019
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Every borrower and every scenario is different.. The loan officers job is to look at your complete loan profile and help you determine which loan product is best for your scenario. Do you have 750 credit scores or 650? Do you have 30% down or no money down? Do you have a Foreclosure or BK recently? etc, etc, etc.. All these factors contribute to steering you to the loan product that best fit's your exact scenario. Want to know which way to go? Try reaching out to a mortgage banker/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Jan 29th 2019
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