San Francisco | How To Find The Right Loan Officer |Mortgage residential and commercial home loans SF
Loan officers come in all shapes and sizes. They generally tend to specialize in either mortgage loans, commercial loans, or consumer loans. For the purpose of this article, I’m only going to be addressing mortgage loan officers. These men and women can be your best friend or your worst enemy. They want you to get your loan. They also want you to get the home of your dreams. So in the beginning of the home buying process when they are giving out money they really do seem to be the best friend you can have on the planet. However, that relationship can go seriously wrong if you and your loan officer do not temper your wants with your needs and fit them into your budget in a manner that allows for contingency planning.
In plain English, what I just said is this. If you have a loan officer that is giving you more money for a house than you can really afford to pay back, they really aren’t being the friend you thought they were. We all get stars in our eyes a bit when we’re shopping around for the perfect home and I can think of very few people who have ever looked at a really nice house and said you know that’s just too nice for us, we don’t deserve all that. I know I’ve never said it. We all want the best house for our money. We want our kids to go to the best schools and we want the really nice huge backyard for our kids and their friends to play in. The reality is that often what we want and what we can realistically pay for are two entirely different things.
Unfortunately a loan officer can suggest things like interest only mortgages or adjustable rate mortgages or countless other things that will ultimately lead us down the path of financial ruin. I’m saying all of this not because all loan officers are bad or even that most are, but to warn you to make sure you are aware of what you are getting into when you get your loan. Chose your loan officer wisely, ask questions, get references, and make sure you read the fine print.
Now, I’ll get to the best friend part. If you have a loan officer who shoots straight and tells it like it is, you’ve found a golden friend and you should work hard to maintain that contact for the next major purchase you decide to make in your life. You see, if you find a loan officer such as the one I’ve mentioned above, you have found someone that can act as an advisor for your financial situation. Someone who can help you make the decision on whether you are adequately prepared to buy up or if you should stay where you are a little longer. He/She will also be the one to tell you that while you may be approved for XYZ dollars, it may not be wise to put it all into your home.
The bottom line is that the unexpected happens every day, a good loan officer can help insure you have the tools in place to be prepared. A good loan officer will strongly advise you not to overextend yourself financially just to get a house that you cannot really afford, although at the time you will think he/she is your worst enemy.
Powered by Agent San Francisco – SF San Francisco. All rights reserved.© 2012 Copyright by Agent San Francisco™. All rights reserved. Agent San Francisco is an independent real estate brokerage.
“Agent San Francisco real estate brokerage” is an independent real estate brokerage firm with CaBRE – California Bureau of Real Estate Lic #01173770 and Mortgage Loan Originator MLO – NMLS ID: #1203203 & NMLS ID: #1425778 – Agent San Francisco is equal opportunity housing mortgage broker and
real estate agent that abides by all California Bureau of Real Estate rules and regulations. Agent San Francisco Mortgage Loan originators MLO’s and advertising are in compliance with FTC, U.S. Department of Housing & Urban Development (HUD), Regulation Z [12 CFR §1026.24], Reg CaBRE, Mortgage Acts and Practices — Advertising rule, known as Regulation N – [12 Code of Federal Regulation §§1014 et seq.] – The Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB).
Licensed and endorsed under California Bureau of Real Estate. (CaBRE)
CaBRE Broker #01173770
Mortgage Loan Originator (MLO) NMLS ID #1425778
Mortgage Loan Originator NMLS ID #1203203
Searches related to residential home and commercial real estate lenders San Francisco
residential home and commercial real estate loans San Francisco
San Francisco residential home refinance and commercial real estate lenders list
largest residential home refinance and commercial real estate lenders San Francisco
residential home refinance and commercial real estate funding San Francisco
residential home refinance and commercial real estate financing San Francisco
residential home refinance and commercial mortgage lenders San Francisco
residential home refinance and business real estate lenders San Francisco
residential home refinance and private commercial real estate lenders San Francisco
Home purchase loans and refinancing
