Something that is new to the real estate market in the recent past is the prevalence of new mortgage lenders.
It seems that they are popping up everywhere! I can tell you that with our listings, we typically get multiple offers, and in the last few weeks I have come across more lenders that I have never heard of before than at any other time since before the Great Recession.
Is that bad? Well, not necessarily, since competition is good in that it keeps pricing in check. Although, with the abundance of new loan shops, there comes a high degree of potential for loan officers and processors to not have their act together. What that means to you as a buyer or seller is the increased possibility that you might not close on time, or close at all. And, increased risk and turmoil during the transaction is something that no one wants…STRESS!
Choosing a lender may seem like a commodity, but I can assure you it is not. If you want a smooth transaction with low amounts of stress, you need a great lender, not just a good lender. Fortunately, my team and I have experience with many great lenders in our area and can help you find the one that best fits your situation. If you are selling, we can also help by guiding you to choose an offer that will have a high likelihood of giving you the smoothest transaction possible.
If you are even thinking about buying, selling, or investing in real estate, GIVE US A CALL, we can help!
…Helping YOU Is What We’re Here To Do!