Stay Away from Big Banks when getting a mortgage
Story time! I had clients that were buying a home and we found one that they LOVED. They were already set up and preapproved with one of our preferred lenders. We were under contract on their new home and they went to their bank to wire transfer their earnest money over to the seller side. Their banker then sits them down and tells them they can “get them a better rate” and also said they wouldn’t end up qualifying for their current loan. This banker told them that they were gonna lose the house. Just scared the crap out of my poor clients. A lot of big banks can’t or won’t do certain loans that mortgage brokers can do. Mortgage bankers are salaried. They don’t care if your loan goes through or not. Mortgage brokers/loan originators depend on your loan closing to make a living and are going to work way harder to get you cleared to close.
Check out the video below
