How To Find a Lender Who Takes Action Before Problems Arise

I want to tell you why shopping for your lender is just as important as shopping for the rate. A lot of people do one, but not the other. And they're both extremely important. I've heard it like into this. It's kind of like we're the pilot of an airplane, right?

Need a Second Opinion? Click Here for Help!

And you hit some turbulence and the pilot comes over the loudspeaker. Hey, we hit a turbulence back where your seatbelts that'll be all right. Sometimes you hit turbulence in the middle of a loan process. Through no fault of your own, through no fault of lender, and here's an example of something that just happened to us.

We had 30 days on this contract, plenty of time. We had it cleared to close seven days prior to closing. That's great, everyone's happy at that point. We get a call from the real estate agent who's at the closing table on the day of closing and said, Hey, we're not closing. I was like, oh, why not? What's going on?

He said, well the seller of the property was working with the relocation company. The reload company has not been able to get docs to the closing attorney, so you can't close. Buyer is at the closing table, seller's not ready to close, and we're just finding this out.

In this particular case, the husband was leaving town the next day. So he wasn't going to be there. He couldn't close the next day because he wouldn't be there. So here's why I say this. What we were able to do was we worked with the closing attorney. We said, why don't we set up a power of attorney? So the wife will be there tomorrow. When the seller gets the documents that we needed, right.

She can sign for the husband. Will set up the power of attorney, the attorney drafted it. We approved it. We got pulled those docs back, we got new closing docs out all within an hour and a half. We were ready to close the next day when the seller was finally getting their documentation.

I don't say that to scare you in, Wow. Is closing going to be this stressful for us? I say it to say this, there are many lenders, many lenders who would have said in that situation, well, okay. You got to give us 48 hours to get the power of attorney approved by the underwriter. You have to give us then 48 hours to get a new closing package ready and out.

Four or five days that would have been delayed all because you found out the seller couldn't get a document from the reload company on time. With us, it was an hour and a half. We just acted. I talked to my closer who's part of our company and I explained the situation. I said, look, I'm really sorry. You're going to have to redo this package for tomorrow, but here's the situation. She said, oh, I feel terrible for them. Do they have a moving truck?

This is my closer. I can tell you most back office people at most lenders are going to be like, well, I'll get to what I can, not ours. That was her first question. Do they have a moving truck ready? How quickly can we fix this for them? I feel so bad for them. And she said, let me stop and jump on this right away.

And the reason I say that is because it goes beyond the rate. Unforeseen things come up, and we just pivot and react and work with you to make sure that that goes as smooth as possible. Yes, turbulence, it can be a less stressful no doubt.

If I can help you to get a proof of your home loan, to take a look at rates, but also show you kind of the process, I'd love to do that. I'd love to work with you on your home and getting to a smooth closing and a smooth landing on that closing as you get into your home. I'll talk to you soon.

Have Mortgage Questions? We Can Help! Click Here