William's Blog...with a smile!

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Beware...Internet Loans!

There are some great lenders right in your back yard.

Why do you want to use a company that when you call you can't get to anyone you know.

I had 2 deals that were delayed because of the loan company.

These delays cost my buyers thousands of dollars.

 

Do your self a favor and work with a local lender!!!!!!

 

 

Comment balloon 12 commentsWilliam Feela • January 02 2017 02:42AM

Comments

I prefer working with a local lender as well William Feela but I have seen some amazing rates from some of those internet lenders.

Posted by Bob "RealMan" Timm, Owner of Ward Co. Notary Services, retired Realtor (Ward County Notary Services) over 3 years ago

William

Your post is right on point . . . . be very careful of internet loans.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) over 3 years ago

While I've had one client had an Internet loan work out, it's still scary.

Posted by MichelleCherie Carr Crowe Just Call...408-252-8900, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty) over 3 years ago

Good morning William.  Around here the vast majority of people use a local  mortgage lender. 

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) over 3 years ago

Good morning William. So many like the idea of saving and think they know better. No free lunch. Great photo.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) over 3 years ago

Not only are they hard to get a hold of, we too often find out that they can't do the loan...but you don't find that out until you are well in to the process.

Posted by Steve Loynd, 800-926-5653, White Mountains NH ( Alpine Lakes Real Estate Inc., ) over 3 years ago

I have mixed emotions about this. I know some that have been very easy and smooth....others...yuck. I think if the buyer is an "easy" approval, it's fine, but otherwise work with someone you can talk with. 

Posted by Karen Fiddler, Broker/Owner, Orange County & Lake Arrowhead, CA (949)510-2395 (Karen Parsons-Fiddler, Broker 949-510-2395) over 3 years ago

If the loan process has any hitch at the last minute, it is a good chance it will not close with an internet lender, at leasst not that day

Posted by Vern Eaton, Realtor 651-674-7449 over 3 years ago

I prefer to work with trusted local mortgage loan officers who have a record of success.

Posted by Roy Kelley (Realty Group Referrals) over 3 years ago

I love working with trusted local lenders. It just makes the whole process go smoother.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) over 3 years ago

Internet lenders are the scourge of the earth, if you ask me, Bill. Fortunately have only had to work with them a handful of times, but it was a hassle each time.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Realty) over 3 years ago

I always recommend using a local lender to my buyers.  It is not worth the risk using an online lender.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) over 3 years ago

Participate