Choosing a Loan Officer
The market for real estate today is more competitive than ever. With housing stock low across the country, more buyers are entering the fierce competition. You have to make use of any edge you can overcome the competition. One way of gaining an advantage is through using a loan officer. It is for this reason:
Relationships
A lender with a strong reputation of closing deals on your market will boost confidence in your home bid among listing agents. Such partnerships can be made-or-break, in a market where homes sell like hotcakes. A lender with a positive attitude will give the extra push it needs to your offer.
Speed
When you are in a competitive market, it’s time that is essential. Buyers often run up against multiple bids in cities with quick turnarounds, not to mention all-cash offers. A home seller ultimately wants confidence that a deal will be concluded and that the transaction will be as quick and painless as possible. An officer who truly understands your market might be more adept at quickly getting you to the closing table.
Tips for Choosing a Lender
- Buying a home is one of your life’s most significant purchases. Always research the lenders and compare them before making a decision. Make sure that your lender in your market has a history of closing deals.
- Ask your lender, in particular in your market, about their typical closing times. Inquire whether they have any guarantees of closing. Many lenders are now offering them at competitive markets to appeal to consumers.
LoanBidz is a live “real-time” bidding platform for Investment Property Loan Exchange. Top lenders, family offices, banks, and credit unions compete for your loan requests in real-time. Our lenders offer short and long term loans for Single Family, Multifamily and Commercial property types, including rehab and new construction. We can match Real Estate Investors with Lenders in 39 states across the US.
