But I can refer you to a great mortgage loan officer!
When I meet with a new Canton MA home buyer, I tell them that the first step they need to take towards buying a home is to have a solid mortgage preapproval from a reputable lender. They often have some questions for me about mortgage, credit issues or first time home buyer loan programs. Of course, I have some general information but to get their questions answered properly, I refer them to a well-qualified and reputable mortgage loan officer, because I am a real estate broker, not a loan officer.
Often buyers will come to me already preapproved. That's great! They're serious buyers who have started the process already. However, not all preapprovals are created equal. Some loan officers merely run numbers through an automated program, without taking the time to look at the details, ask questions and evaulate things such as a debt to income ratio.
While I can try to evaluate an unknown loan officer by asking questions and digging deeper, I'm not a loan officer. I can not always know that they have given a solid preapproval or that they knew what they were doing when they issued the letter. Most times it works out and in the process I find another great loan officer!
Sometimes it does not work out and I am left picking up the pieces from a loan officer who did not do his or her job. This happened to me twice recently. The first time I was able to quickly get my buyer to a different lender with a top-notch loan officer who answered all the questions and got the job done. The second time it was too late and my buyers were left unable to buy a home and looking for a new rental, having unfortunately relied on a preapproval that was not worth the paper it was written on.
I'm not a loan officer....but I can put you in touch with a really good one!
Are you interested in buying a home in Canton MA or a surrounding community? Contact your Canton MA Buyer Broker for free home listings and referral to a great loan officer!
Looking beyond Norfolk County? Contact your Mansfield MA Buyer Broker for Bristol County homes for sale.
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Christine Smith is an Attorney and Exclusive Buyer Agent with over 25 years of experience in the real estate field.
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