What is important to you when you are buying or refinancing your home? The very lowest rate? The very lowest costs? I want it to be as easy and painless as possible. I want everything they told me to be true in the end at the closing. I would like someone to answer the phone or call me back when I reach out to them. I would like to be educated and not kept in the dark when I am working with my loan officer. I just want honest information as to why I am not qualified or able to do a loan.

George R. Kalis

These are actual statements from clients as I ask them, “What is important to you?”

I think it is very possible to hit most of those points if you get to the right person at the right brokerage. Getting a great rate is an element of the broker keeping their costs down so they can pass those lower overhead savings along to their clients. So, if your broker is driving a Ferrari or a Lamborghini, you can rest assured they are not keeping their overhead low.

You need an experienced loan officer to help you properly package your loan. You only get one chance to impress an underwriter, so you better make it good. Therefore, I would say a minimum of five years in the mortgage business, but, the more the better. Also, a true independent mortgage broker can utilize their relationships with many different banks and investors to shop your loan to an investor who likes your profile, which will save you money and time.

Answering calls or returning them the same day is a trait that a good, solid, respectable loan officer will always exhibit. They are wired to make sure and return the call because they would expect the same service and respect themselves. Many loan officers truly do not bother calling back a person with a 545 credit score because they think you should know why you are not qualified for a loan. The person you want to work with will always call you and explain how to get your scores up and will give you a game plan on how to do it so you will be able to qualify in the future. That same person will always educate you on the process, explain where every dime of your money is being sent, and will give you good, solid information you can rely on to make good decisions on what kind of loan would be the best fit for you and your family.

So, take the time and do your homework on to whom and to where you should take your mortgage business. It will be time well spent and you will end up with a great person and an even better mortgage loan.

George R. Kalis is a Certified Residential Mortgage Specialist, Certified Veteran Loan Specialist, Broker/Owner at Network Independent Mortgage Brokers, “Serving NorCal with Mortgages for Over 30 years.” The office is located at 1300 Oliver Road, Suite 140, Fairfield. Reach him at [email protected] or 707-759-5129.

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