Best place to get a Loan?

[AustinChief]

Originally Posted by Lono

I can probably come up with about $3000. I'm thinking FHA is the best way to go? Is it tough to get an FHA loan and has anyone else got one before?

Yes, I'm loan reeruned. Forgive me. Real advice is appreciated.

Step 1: get realtor that you can trust (someone who has been in the industry a loooong time)

Step 2: ask realtor to recommend loan officer that they trust.

Step 3: buy home

[DaFace]

Originally Posted by AustinChief

Step 1: get realtor that you can trust (someone who has been in the industry a loooong time)

Step 2: ask realtor to recommend loan officer that they trust.

Step 3: buy home

This worked well for us, though I've read that realtors sometimes suggest the loan officer that they know the best rather than the one that consistently finds the best rates.

[ClevelandBronco]

Originally Posted by DaFace

This worked well for us, though I've read that realtors sometimes suggest the loan officer that they know the best rather than the one that consistently finds the best rates.

As a guy who has been involved with a comprehensive financial services firm for a few years now, I assure everyone that DaFace's caution is appropriate.

Bottom line: Assume your real estate agent is looking after his own bottom line, not yours.

[chiefs1okie]

Originally Posted by ClevelandBronco

As a guy who has been involved with a comprehensive financial services firm for a few years now, I assure everyone that DaFace's caution is appropriate.

Bottom line: Assume your real estate agent is looking after his own bottom line, not yours.

Another tip would be to secure your own agent rather than using the listing agent. They are typically looking to the sellers best interest. If you use your own agent they are going to (generally) help you negotiate a better deal on the home to secure the sale.

[ClevelandBronco]

Originally Posted by chiefs1okie

Another tip would be to secure your own agent rather than using the listing agent. They are typically looking to the sellers best interest. If you use your own agent they are going to (generally) help you negotiate a better deal on the home to secure the sale.

If you do that, offer them a flat fee only to represent you. There's no reason on earth they should get a percentage of the deal when you've already done the heavy lifting.

I'd get a real estate attorney instead, but that's just me.