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Is a mortgage loan officer that is a realtor also a good idea to work with when buying a first time home?
Posted on October 4th, 2009 3 comments
phound asked:
Should I work with 2 different individuals like a real estate agent and then a loan officer? I can see how one person w/ too much knowledge could be sticking me.
I am a first time home buyer so I am new to this.
Currently I am working with an individual who is both, a realtor and loan officer what are the disadvantages?
This is off topic but I am an Atheist, Anita. Please dont bring your religion into this and force it upon a completely unrelated topic. Loans have nothing to do with a god.
BOBBIERenting & Real Estate Anita, Atheist, First Time Home, First Time Home Buyer, God, Loans, Mortgage Loan Officer, Real Estate Agent, Realtor, Religion, Time Home Buyer, Unrelated Topic3 responses to “Is a mortgage loan officer that is a realtor also a good idea to work with when buying a first time home?”
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No. If you work with separate people, you know what their motivations are. If you work with one person, is he trying to push you into a house just so that he can get the mortgage business?
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Noneya October 9th, 2009 at 16:17
I guess it depends on how you look at it. Would you have an electrician do your plumbing work as well?
I’m a mortgage banker/broker full time and it’s difficult to stay on top of all of the changing guidelines and what lender is doing what.
If it were me I would separate the 2. -
Landlord October 11th, 2009 at 16:42
LOL, Anita is just one of those con men from Africa. Ignore it.
But, for your question….no no NO NO NO.
Bad plan. The biggest disadvantage to you is they are receiving not one, but 2 commissions from this sale. Money is tight these days. If he screws you on the price he earns more money all the away around, and there is no one to say anything.
At least with 2 of them they sort of watch each other and have less ability to sckew numbers.
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MadMan October 7th, 2009 at 16:24