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Tuesday, 16 April 2019 15:37

KKOB - April 16th, 2019

<>Ben Lucero speaks about prequalifying for a loan and why it's important to stay local
Published in Radio
Tuesday, 01 December 2015 00:00

KKOB on December 1

Benefit of a Local Mortgage Company

Published in Radio
Tuesday, 01 December 2015 00:00

The Benefit of a Local Mortgage Company

Many out-of-state mortgage companies advertise how quickly they get pre-qualifications done. This may sound great to you when you’re shopping for a home loan, but once that pre-qualifying is done and the loan goes into application, you’ll likely never speak to the same person twice, if you get an actual person at all.

If there’s any type of glitch in the rushed process, who in these large, national companies is accountable when you need questions answered? What happens if they start missing deadlines? Mortgages are not meant to be put on a conveyor belt, and that’s what is happening with these big, out-of-state lenders.

With a truly local mortgage company, the borrower still gets their pre-qualifications done quickly, and will talk to the same person throughout the process, from application all the way to funding. That way, should any complications arise, the borrower gets quick responses from the person who is familiar with their loan.

Remember, just because a lender promises quick turnaround times and fast closings, it’s often just the opposite. Stay local, where you can talk with your mortgage person face-to-face in a comfortable office.

Published in Blog
Tuesday, 19 November 2013 16:19

Home Buyers' Education and Pre-Qualification

Today I want to discuss the importance of utilizing a home buyers’ educational seminar before buying a home.

The main things lenders look at are credit score, income, and source of down payment. Pre-qualifications can take as little as 10 minutes to perform depending on the borrower’s situation. Most lenders today will simply advise the borrower weather they are qualified and for how much, but this is a huge disservice to any buyer if they stop there. A pre-qualification should be much more in depth so that the potential home buyer is educated on many aspects of home buying.

The pre-qualification should include education on what makes up the complete monthly payment, including principle and interest payment, home owners insurance, property taxes, and mortgage insurance. The lender should also cover the complete closing costs and what a buyer should expect to come to the closing table with.

I have met with several purchase buyers who originally called Indigo Mortgage to compare interest rates and found that none of the other lenders even bothered to put these buyers through a home buyers’ seminar. Indigo mortgage offers all home buyers, whether they are a first-time buyer or not, a one-on-one session to educate them on the home buying process from A to Z.

Completing an educational seminar may be difficult to accomplish if buyers are utilizing an out of state or online lender. A borrower can get a home buyers seminar from an on-line or out of state lender, or even a large bank for that matter. Unfortunately, these online and out of state lenders are in it for the profit only and don’t really care whether a borrower is educated on the home buying process. As always, I encourage all home buyers to use a trusted local lender, someone like Indigo Mortgage.

Published in Blog

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