WHY A MORTGAGE LENDER IS BETTER THAN A BANK OR CREDIT UNION

The mortgage industry has seen major changes in the last few years. Underwriting standards have tightened up and seem to vary considerably between banks and other major lenders. As a result, when a buyer who is dealing with just one lender (be it a bank or a credit union) has no where else to turn should the underwriter of that institution come up with a rejection or conditions for the loan.

Mortgage brokers though, have a clear advantage in that they have multiple lenders/underwriters they can place the loan with. Interestingly, many times one can get 1/8 to 1/4% better rate with a mortgage broker due to the number of lenders competing. Homeowners Concept has had a great relationship with NetCentral Mortgage (NCM) for their extremely high reliability and smooth closings. It helps that Netcentral is located in the same building as our central office in Wauwatosa. If they EVER do not do what they promise, they will certainly hear it from all the Homeowners Concept agents and we do a lot of sales each year. In one recent case we had a buyer that was preapproved for 5% down with a bank but a few days before closing the underwriter demanded 20%. Buyer took the file away from the bank, placed it with NCM and was able to close with only 5% down. In another case the bank required the buyer to repair a major item on the property even though the buyer's downpayment was 30%! NCM got the loan approved with no issues.
Buyers, sellers and agents want a "close to 100%" probability that the loan will get approved and for the same rate and conditions as when it was originated. Our vast experience shows that mortgage brokers absolutely offer the best odds of getting a loan through and in a hassle free way. NetCentral Mortgage can be found at NetCentralMortgage.com