(Closed) Annoyed with Mortgage Broker-Advice Please

posted 8 years ago in Home
Post # 3
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

I’m sorry that you are having problems.  Just so you know, if you look for loans within a few weeks time, it won’t have any affect on your credit scores so you don’t have to worry about your scores going down.  If he isn’t helping you, you might need to go through someone else.  The only problem is I’m not sure if you can do that at this point in the game.

Post # 4
Member
1363 posts
Bumble bee
  • Wedding: June 2009

Do you have an experienced realtor?  Ours told us not to go with a particular bank because they’re (apparently) notorious for dragging their feet and not showing up with the check at settlement.  

You’re about to sign a 30-year commitment to this bank.  It may be worth shopping around for other options.

P.S. CONGRATS on the house!  That’s so fabulously exciting.

Post # 5
Member
3041 posts
Sugar bee
  • Wedding: May 2010

Have you heard anything back yet? Do you have a realtor? Usually your realtor can recommend a good lender. I went to 2 other lenders before finding my current one, but if I switched again I probly wouldn’t qualify anywhere else. So you may be able to switch once or twice just be careful cause too many times hurts you.

Post # 7
Member
201 posts
Helper bee
  • Wedding: October 2010

We are buying our first home too! It has been such a quick process. Our offer went through Feb 16 and our closing is March 31. It went really quickly. We are using my Fiance family friend. I can totally relate with stress during this time! You def need someone to help you with everything, bc you have never done this before! I would recommend talking to the realitor also and get a referral. Our sellers have been total jerks and made everything complicated. Good Luck! So exciting

Post # 8
Member
705 posts
Busy bee
  • Wedding: March 2010

The same thing happened to us! We asked our builder for a reccomendation on another bank and went with them instead.  I haven’t noticed a decrease in my credit…but we did only go with one other bank.  I finally heard from bank #1 a MONTH later saying he found out we went with another bank. I would go ahead and look around!

Post # 9
Member
4123 posts
Honey bee
  • Wedding: October 2010

OK, we had broker issues, but in another way.

We went through pre-approval, gave our docs to him and then were told we were no longer approved due to a new regulation. We were also told it was a fannie and freddy regulation which would basically mean we weren’t eligible for a conventional loan ANYWHERE! They tried pushing us to a FHA loan, which was stupid because we had OVER 20% to put down, and the fee’s were higher. The issue was that I didn’t have enough debt lines…. FTW.

Basically, after a lot of panic and stress, within 36 hrs of that we had approval for a conventional loan with someone else. it took an entire day on the phone, but it was worth it, we LOVE our new lender… USAA. 

 

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