Read further for my 4 main highlights...
There are a couple major differences between working with a broker/banker like myself and a major name like B of A, Chase, Wells Fargo, Citibank, US Bank or the like.
- The first and foremost reason why I set myself apart is the prompt, accurate and friendly service I provide. When I start a loan file with you, you will be dealing with just me from beginning to very tail end of your transaction (loan). I cannot say the same for a major lender. I myself have dealt with Wells and B of A personally and I am more of a file on a desk rather than a person that has stresses to try and get my loan closed. Many times, your file will be shifted between multiple people in multiple states before it ever closes. And good luck getting a dedicated person to call you back or email you. Many questions get left unanswered and processes are generally never explained to a borrower going through the process with a major lender.
- Generally, the loan officers working in a major lending institution are all mostly salary based. They come in & do their grind every day and don’t have any additional incentive to put their heart into it. I am 100% commission based, self-employed person and am only paid when your loan closes. Therefore my incentive to make sure your loan is set up to close is extremely high; compared to a salary wage earner in a major institution. Most people think they might have an edge with a lender if they happen to bank with them as well. That is most certainly NOT the case. The department that handles your savings and checking accounts is a completely different department that handles mortgages. They are in no way connected or tied to one another. You’d still have the same requirements to get your loan closed with that banking institution whether you have open accounts with them or not.
- My incentive to make sure that your loan is structured appropriately also shapes how much extra education I must put myself through which requires a great deal of reading lenders guidelines along with FHA/VA & Fannie/Freddie & non-conforming updates.
I also shop your scenario against multiple lenders to offer you the one with the best rate the day your file is ready to lock. In addition, I pay for a service that sends me nine (9) texts a day to my cell phone that alerts me to what is happening in the mortgage market. Most loan officers in a bank aren’t even sure how the rates are derived let alone pay attention to market conditions.
The best place for you to start is to become pre-approved so you can begin shopping with a real estate agent. The following documents are those which you would need to gather together so I may analyze for a pre-approval:
- Copy of Driver’s Licenses & SSN cards
- Please all sign and date the attached borrower’s authorization form so I may pull credit
- W-2s & any 1099’s for 2012 & 2013
- Complete personal tax returns for 2012 & 2013 with all schedules!!! Please do not omit anything.
- Pay Check Stubs for the most recent 30 days
- Bank statements for all open bank accounts for the most recent 60 days. Make sure to include all pages from the statement even if it is an advertisement page!!!
- Most recent statement for any investment accounts including CDs, Money Market accounts, IRA’s, pension/retirement
Once you have all of the above gathered together in its entirety, you may scan and email or you may fax to my e-fax at 1-800-630-0896. Or if you prefer, we can schedule an appointment to meet at my office when you may bring the above paperwork with you.
Best Regards & Happy Mortgage Hunting!!