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Lender Question
Posted: Mon Apr 07, 2008 10:49 am
by tlo729
I used mhloans and got only one response back. Ok deal but not the best. I have also contacted another lender that happens to be the one the dealer uses most (21st Mortgage) and they are actually a Platinum Dealer for them over 4M in lending in 2007. My question is, do these dealer/lender relationships involve kickbacks? Is it a safe option to go with a lender that well connected with a dealer? We are not a hardship case or anything but I am looking for the easiest process. Any opinions on this type of situation?
Re: Lender Question
Posted: Mon Apr 07, 2008 2:17 pm
by David Oxhandler
It is difficult to tell which way the nickel flows on different loans and I wouldn't waste much time on that issue... the real issue is what is the best deal for YOU. Who is offering you the best interest rate and payment plan for your budget.
The mortgage market is tight at the moment and any lender would be happy to get an applicaiton from a qualified buyer. Instead of looking at one lender at a time submit your info a web site where they connect you to multiple lenders so you can compare who is offering the best possible deal for you.. Then let the bankers compete for your business