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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
Anyone do this? I know that you really shouldn't tell the REA how much $$$ you have to spend and I feel like if we use the broker they recommeded they broker will tell the REA how much $$$ we really are willing to spend.
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Posted 10/7/07 3:17 PM  |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
We used one recommended by our lawyer. I would not use one that my realtor recommended.
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| Posted 10/7/07 3:24 PM |
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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
Posted by Goobster
We used one recommended by our lawyer. I would not use one that my realtor recommended.
Thanks
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| Posted 10/7/07 3:25 PM |
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cjb88
Little Brother
Member since 5/05 3540 total posts
Name:
C
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
we went to one recommended by FIL, and one from the broker... we used the one from FIL- the other one was a slime ball. My realtor actually stopped recommending him after us and started recommending our guy...
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| Posted 10/7/07 3:59 PM |
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JenandMikey
life is good =)
Member since 5/07 4216 total posts
Name:
We're so blessed!
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
Posted by Goobster
I would not use one that my realtor recommended.
totally agree!....we used a friend of a friend. he's awesome though!
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| Posted 10/7/07 5:15 PM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
No, we used one that a friend recommended. There is nothing wrong with using one your REA recommends, just as long as you don't mind that they are probably getting a cutback.
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| Posted 10/7/07 5:22 PM |
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ali120206
2 Boys
Member since 7/06 17789 total posts
Name:
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
We used a guy who DH knows and were very happy with him. I really liked that he explained everything to both of us (and I have never met the guy). His fees were rather minimal on our end, he received most of his compensation from the bank. The best part was after we locked in, rates went down at another bank so he was able to switch us to the other bank and we got a lower rate. Fm me if you want his info.
I don't think it would hurt to get a good faith estimate from the guy that your realtor recommends and it doesn't necessarily mean you have to go with them.
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| Posted 10/8/07 8:08 AM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
i wouldnt.
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| Posted 10/8/07 9:56 AM |
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nicrae
He's here!
Member since 12/06 9289 total posts
Name:
Mommy
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
When we bought the condo we used the mortgage broker that our real estate agent recommeneded.
When we bought our house we used a different real estate agent and the same broker. He was great and we had not problems at all.
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| Posted 10/8/07 10:07 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
I would have no problem using or at least talking to the broker recommended by the agent.
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| Posted 10/8/07 10:25 AM |
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DRMom
Two in Blue
Member since 5/05 20223 total posts
Name:
Melissa
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
Posted by charon54
No, we used one that a friend recommended. There is nothing wrong with using one your REA recommends, just as long as you don't mind that they are probably getting a cutback.
It is illegal to take cutbacks as a REA. Also brokers can get fined for taking kickbacks as they are not allowed to make that sort of $$ unless it is disclosed. Most REA's won't risk their licensure to make a few hundred bucks. Are there some that do?...of course. Most reasons an REA will recommend a broker is that they can get deals done quickly which is good for the REA but also good for the buyer/seller
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| Posted 10/8/07 10:33 AM |
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
We used the broker recommended by our RE agent. We trusted her and just felt comfortable, and we had a great experience with both of them!!
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| Posted 10/8/07 2:40 PM |
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angnick
Life is So Wonderful!
Member since 8/06 6663 total posts
Name:
Angela
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
we used a cousin. It isnt a bad idea IMO to use one the realtor recommended, they all work together, and after all if they have a better package to offer, why not?
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| Posted 10/10/07 9:10 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
I wouldn't, but at the same time, I don't believe your mortgage broker can disclose ANY of your financial information to anyone!
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| Posted 10/10/07 10:36 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
Just wanted to add, if you need the name of a broker, feel free to FM me and I can give you the name of the guy we used. He's DH's friend.
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| Posted 10/10/07 10:40 AM |
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kdanik
LIF Infant
Member since 7/07 148 total posts
Name:
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
i wouldn't
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| Posted 10/10/07 2:33 PM |
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melbalalala
Little Lady
Member since 5/07 5014 total posts
Name:
Melissa
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
We boughgt new construction and used the "preferred lender" of the builder because if we didn't we wouldnt get the closing costs covered. That was part of the promotion.
Not sure if that could also somehow apply to existing homes.
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| Posted 10/10/07 4:26 PM |
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Arieschick29
aries+cancer= pisces&gemini
Member since 3/06 4268 total posts
Name:
Jen
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
We are going to call REA's son who is a mortgage broker- REA told us it would help make the deal go faster since they talk frequently but we are not obligated at all.
We forsee no issues with REA knowing how much we can afford- he is on our side all the way!
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| Posted 10/14/07 5:00 PM |
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KLSbear
LIF Adult
Member since 1/06 1908 total posts
Name:
Karen
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
We did and had no regrets. She was on top of everything and it was so much easier than some of the nightmare stories I've heard. She was right on with her advice regarding just when to lock in for a good rate too.
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| Posted 10/14/07 5:43 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Would you (or did you) use a mortgage broker who was recommended by your real estate agent?
I see that so many people have such distrust with their real estate agents. I have really good relationships with all of my buyers and I always give them a few recommendations so they can choose whoever they want if they don't know of any (and I never ever get a cutback - nor would I ever accept one.) I do it because I know these people are competent and will take good care of the buyers needs.
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| Posted 10/14/07 6:08 PM |
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