Zillow Advice: Finding a loan on Zillow - Is it ok to find a morgage lender 1000 miles away?

I can speak to my experience...I ...

Sat, 20 Jun 2009 04:08:00 GMT

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.

New York is a funky state. ...

Sat, 20 Jun 2009 03:53:00 GMT

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?

If you feel you trust your ...

Fri, 19 Jun 2009 02:15:00 GMT

If you feel you trust your lender than it's OK. I've done loans for clients 3000 miles away. Technology today makes it possible, without any slow down in the process.

Location is not as important ...

Sun, 14 Jun 2009 06:36:00 GMT

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.

Ok is the perfect way to ...

Fri, 12 Jun 2009 13:59:00 GMT

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.

In today's world of technology, ...

Fri, 12 Jun 2009 13:46:00 GMT

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.

even 3000 miles away would ...

Fri, 12 Jun 2009 13:38:00 GMT

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.

yes and no1) make sure they ...

Fri, 12 Jun 2009 13:35:00 GMT

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?