Should I be concerned about my lender?
My lender didn't give me a pre-approval letter until I found a house. Should I be concerned?
The downpayment % is a little higher than expected, and I feel I may have shopped around if I'd known this originally.
Most Popular Reply
Asya ,
The first one is the hardest. If You don't have any history with that lender. bigger downs and higher interest rates are expected. As you grow with your real estate career, the lenders will get to know you and be a little more lenient.
As far as a lender, If you don't get what you need to do a deal. Go out the door, look across the street and usually there is another financial institution, go in say HI , and ask who is the portfolio lender? Do you have any foreclosures on your books you need to get off of them , and they will be more than happy to talk with you. It is a win win for both of you.
Always shop around for your business. as someone once told me years ago. "You make your money on the BUY"