Foster Weeks | NMLS 253370

Advantages of Using a Mortgage Banker

There is power in the numbers. The beauty of having options.

In finance, like business, the most successful people will always tell you that the key to their accomplishment is keeping their options open.  And working with a Banker/Broker provides you those options. By going directly to a retail bank, you typically have a few (maybe a dozen) loan products. And if you don’t fit into their “box,” you’re out of luck and need to start from scratch somewhere else. (Hopefully somewhere that will be understanding to your situation.)

However, as a Banker/Broker, we provide you access to dozens of lenders and investors (meaning, potentially, hundreds of programs), helping you by comparing loans, programs, rates and pricing and provide you with the best options and help compare apples to apples.  In short, one stop shopping, without having to go to each bank individually.

Mortgage banking defined.

We’re licensed real estate financing professionals who passionately sort through the details of multiple lender offers for your benefit. Sometimes this means providing a solution that you had not even contemplated or something that you did not even know about. Pretty cool.

With a mortgage banker, you have access to an expert with resources to get you what meets your goals and needs.

This is what we do.

As a Licensee, we have resources that enable us to quickly compare multiple lender offers, and compare/contrast the differences. Something that would take an individual days/weeks to do on their own, on their own time schedule.

We then dive deeply into underwriting guidelines, checking to make sure that each borrower is highly likely to qualify and be approved given the specifics of the scenario and each lender’s requirements.

Examples include;

  • Verification of income, debt and assets
  • Rental history
  • Credit derogitories
  • Reserves (post close savings)
  • Debt to Income (DTI)

Aggressively fighting on your behalf.

Depending on what lender you eventually select and the complexity of your file, there can be as many as 400-600 thing that need to be satisfied before your transaction is funded and closed.  Just one thing out of allignment can put the kibosh on the entire deal.  That is why you need an advocate, guide, body guard in this process. Someone who will take it "to the top" if needed to get reasonable resolution on your deal.

We will;

  • Listen and understand your needs
  • Teach and educate you on your options and the associated tradeoffs
  • Help with Locking or Floating decisions
  • Clarify and expound on loan application and disclosure documents
  • Work through loan pricing adjustments to find the best tactic to meet your needs
  • Guide you through the process, preps you for next steps
  • Organize funding of loan, closing of escrow

    Are you ready to get started?

    If you have questions and want to dig into this a little deeper, email me or call 415-345-4375 to schedule a consultation.  I'll  let you know how much of a mortgage you qualify for. and will be glad to answer your questions. And if you’re really ready, I can get you prequalified or preapproved for the purchase of a home.