There are things out there that I hear all too often. Like, I was told to call you as I was screwed over by my last lender. So, the first thing that comes to my mind is here we go another person blaming someone else for their failures, but as I listen I also try to wonder is there that many bad lenders or loan originators out there?

Communication is right there at the top of the list for you the consumer right along with, do you understand the process and

are you comprehending what your’ loan originator is telling you?

If you are, then maybe your loan originator and their processing team is failing you.

First you need to have a complete understanding of the process and what you will experience. You should never hear don’t worry sit back and relax your all set, I got you covered or you’re good to go we will handle this for you! It’s easy for them to say it’s not their earnest deposit money on the line.

Understanding The Approval or Commitment Letter

Most every real estate purchase and sales agreement has a finance contingency. You, the buyer should know the date of this time frame in your contract/ You the buyer should be on top of your loan originator at least 3 days prior to this dead line and requesting what is needed for your approval or commitment letter.

Please LISTEN, even if you receive your loan approval or commitment letter please read them carefully and understand the conditions within them. Discuss this with your loan originator to ensure you can meet and satisfy all these conditions. This is the point of no return and your earnest deposit money could be at risk if you do not close on time or if you are later denied the loan. Yes, even after an approval or commitment letter you can be denied the loan.

Ask questions, know your time lines inside your real estate contract. Get all your facts, ask questions all the way through the process and we will see you at a happy closing table