WHY I recommend my Preferred Lender
I recommend my Preferred Lender to my clients because I want to work with someone who shares my work ethics and commitment to a successful transaction. In order to be on my list of Preferred Lenders, my stipulations are (1) you work the hours I work, (2) I get your cell phone number, and (3) you communicate with me throughout the transaction.
These are the things I promise MY clients – (1) I will respond to your concerns and questions as quickly as possible; (2) you can call my cell at any time and I will get back to you as quickly as possible; and (3) I will communicate to you throughout the buying process. Why would I expect less service from my Preferred Lender than I offer myself?
My Buyer and I found ourselves in a multiple offer situation on a Saturday night at 8pm. I knew where my client (and friend) worked, how long he had been there and what type of character he possessed. Based on minimal information exchanged between my client and Lender, we received a pre-qualification letter by 8:30pm to submit with our offer. Obviously the two had to meet Monday to fill out documentation in further detail, but the point is, my Preferred Lender stopped what he was doing late Saturday night to assist my client. And, for that level of service, he can expect more referrals from me.
WHY I recommend my Preferred Lender
My brother is currently selling his home in another part of the state. His Buyer is using a Lender unknown to me or my brother’s Realtor. We have discovered that after six weeks of being under contract that the Appraisal is not completed and the order to update the abstract has not been placed. This Lender is NOT communicating with my brother’s Realtor and subsequently, the closing date has already been extended twice. The Buyer is now regretting his decision not to use one of our Preferred Lenders. It’s too late for him to change Lenders at this point, because he would lose the interest rate to which he’s locked in, and he would have to begin the Underwriting process from scratch. So, we’re literally at this unprofessional Lender’s mercy.
We do not get kick-backs from these Lenders – we simply receive top-notch service because we are a source of referrals. Once the contract is negotiated, the outcome of the transaction is literally in the Lender’s hands, and you don’t want to have someone driving the bus that you don’t explicitly trust.
I tend to recommend different Lenders for different reasons. One may have more experience with USDA loans and another with Native American Section 184 loans. Another Lender is best suited for clients with challenged credit or imperfectly documented income. It is always better if Buyer, Realtor and Lender work together as a team, so it’s important that personalities mesh.
If you are beginning the home-buying process, please ask me about my Preferred Lenders. I’m happy to refer you to the one best suited to your needs. 918-852-5036
Content written and published by Lori Cain.
