Like attorneys and IRS agents, sometimes we mortgage bankers get a bad rap. We can of course lay claim to our share of bad apples, but I am particularly proud of the opportunities we at Van Dyk Mortgage provide borrowers. One opportunity in particular (that you won’t find with every lending institution!) is the opportunity… Continue Reading More Than Your Everyday Escrow
So as an update…for our condo loans, we have lowered the down payment requirements!
What I don’t understand is when a prospective client makes a decision to go with a bank because they are being lured with a rate that will ultimately represent more trouble than the insignificant savings it is worth.
Please bear in mind, while that cash greased the skids of the initial transaction, getting that money back out will entail all the minutiae of any mortgage loan. Buying a home with cash does not prove you are solvent and are an excellent risk to a lender! If you are planning on doing a delayed mortgage deal and have the expectation that it is just a deposit and withdrawal equation, it is not. You are still subject to provision of all documentation and processes.
First of all, I know we’re all theoretically adults here but it must be said: There’s no room for whining, complaining and general grousing. To get a deal done in less than 30 days it is all-hands-on-deck. You need to clear your calendar, be accessible, return calls immediately, and have exactly what is asked for when it’s asked for. There is no margin, there is no tomorrow. We’ve got a lot of moving parts and they all have “stuff” they need to be fed to be kept moving. Literally, if something stalls due to missing pages of a bank statement for example, this line of dominoes is going down. I don’t think I know how to be any clearer.