In this competitive market the lender you choose can actually impact whether or not your offer gets accepted. How is this possible? Well, let's suppose you've found the perfect home, and as your buyer agent is getting ready to draft your offer she learns one competing offer is in and 4 more offers are expected to arrive soon. You want to do everything you can to get your offer accepted, so your agent calls your local lender and asks her a favor.
Next, your lender immediately emails the listing agent to explain that you're a rock solid buyer with verified income, assets, and credit. Then your lender calls the listing agent to relay the same message.
In the end, your offer is the one that gets accepted. The listing agent confides it was the reassurance offered by your lender which helped tip the scales in your favor.
Don't Just Shop Mortgage Rates
A lot of buyers shop mortgage rates but fail to shop service and results. Be sure to choose a local lender who is knowledgeable, reliable, and responsive. Will your lender pick up the phone when you call her with questions? And will she make a call on your behalf when you're competing for your dream home?
When it comes to picking the right lender, we recommend going with a local bank or credit union over an internet or big box lender every time.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred