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Answers (8)
- CubsfaninWA
- Contributions:567
I can speak to my experience...
I live in Washington State. My lender is in Missouri. I've never met the guy but I have spoken with him several times over the phone and did a ton of email traffic with him. Did I wish he was somewhere I could "pop my head in" and check to make sure things were going smoothly, heck yes I wish I could have but my LO came through with everything he said he was going to do and did a great job. Would it have been nice yes, but at the end of the day, my LO got me a great rate, did a great job with getting everything to the title company, 5 days early, and came through with everything he said he could do. I think if you have the abilities (i.e. scanners, email, and a good contact number for both you and him) then it doesn't matter where either of you are.
I live in Washington State. My lender is in Missouri. I've never met the guy but I have spoken with him several times over the phone and did a ton of email traffic with him. Did I wish he was somewhere I could "pop my head in" and check to make sure things were going smoothly, heck yes I wish I could have but my LO came through with everything he said he was going to do and did a great job. Would it have been nice yes, but at the end of the day, my LO got me a great rate, did a great job with getting everything to the title company, 5 days early, and came through with everything he said he could do. I think if you have the abilities (i.e. scanners, email, and a good contact number for both you and him) then it doesn't matter where either of you are.
- Brian Brady
- Contributions:117
New York is a funky state. Dealing with an "alien lender" carries a better than average risk. Why not bring the Texas broker's quote to the closest broker, in New York, and request that it be matched?
- Johnny James, "Palmdale Mortgage"
- Contributions:406
Location is not as important as motivation. I am sure you know people that pass up a lot of churches to go to one that gives them the arm fuzzy feeling. I am sure you pass up a few hamburger stands to get to your favorite burger. The best option usually has nothing to do with distance. If it did why would you be on the world wide web? You want the peson who will get the job done well and in a timely manner. Price is a factor but never the most important factor. Your decision should be based on ability to perform the job at hand not whether or not the lender is around the corner.
- Hamp Yonce, "Zilluminati"
- Contributions:3463
Ok is the perfect way to describe it. It is just OK. You don't really want OK do you? Take the time to find a local professional.
- Lynda Mckenzie, "Lynda Mckenzie"
- Contributions:161
In today's world of technology, the whole loan process can be done without ever meeting the client. Remember the lowest rate is not always the best deal. Sometimes it is worth it to pay a bit more and receive a higher level of service from someone local that the realtors, attorney or friends can refer.
I would also suggest that you make sure the lender is licensed to do work in your state.
I am surprised that no one local from your area responded to your post. It might be worth another try.
Good luck.
I would also suggest that you make sure the lender is licensed to do work in your state.
I am surprised that no one local from your area responded to your post. It might be worth another try.
Good luck.
- Marcelo Hernandez, "pacific mortgage srv"
- Contributions:180
even 3000 miles away would be ok, as long they're properly licensed in the subject state. Listen, it comes down perceived service, comfort level, pricing, and above all if you can get references from past customers, then yyou should be ok.
- Dave Skow, "daveskow"
- Contributions:1105
yes and no
1) make sure they are responsive to your requests / needs
2) make sure they are licensed in NY
3) I always prefer to do business locally in case something goes awry with communication- one can meet with the loan officer ( if needed ) ...have you no replies from local loan officers?
1) make sure they are responsive to your requests / needs
2) make sure they are licensed in NY
3) I always prefer to do business locally in case something goes awry with communication- one can meet with the loan officer ( if needed ) ...have you no replies from local loan officers?
Is it ok to find a morgage lender 1000 miles away?
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