Mortgage help needed
1,567Hello,
I have 2 clients looking to buys but they are both in a situation where the lender approved them for 240,000 with the condition that they put 20% Down. My buyers are looking for no more than 20,000 down to close. Is there anybody here that can help me find the right mortgage agent to close a loan for them. Someone is offering them a deal where they will only pay 5% down but with the condition that he will be their agent. And they only want to deal with me. Can someone help me please. They both make the income and will close on a house ASAP once they find mortgage with no more than 20k down payment.
7 answer(s)
About 6 years ago
If you have an agency agreement in place with buyers this would go against Ethics in place by TREC. It would be unethical either way, especially if he is representing the seller as making an intermediary agreement a requirement in negotiations, he can not possibly be looking out for the clients interest. Call Rick Bevard at Gold Financial, he is an animal, and if it can be done, he will get it done.
Rick Bevard
281-450-3950 Direct
rbevard@goldfinancial.com
Rick Bevard
281-450-3950 Direct
rbevard@goldfinancial.com
Like (3)
DislikeAbout 6 years ago
The agent is obviously unethical. Have your clients look at some down payment assistance programs and shop around for the best option for them. FHA has a low downpayment rate but there is even more option. Point of the matter is that if they can't afford the price of the home they're looking for they need to adjust their expectations.
About 6 years ago
Mohamed, I agree with Jason and Cagdas. The situation with the person offering 5%, but wanting to be their agent shouldn't be happening. I'll send you a lender suggestion through your contact info. Good luck. I hope it works out for you.
About 6 years ago
Dear Mohammed,
I am sending you some loan officer numbers. I hope you will solve the issue. I condemn that professional(s) try to steal your client. No ethics. Shame on him/her.
Regards,
Cagdas Acar
Msc PSA VLB Realtor
832-283-1091
acarster@gmail.com
www.cagdasacar.kw.com
I am sending you some loan officer numbers. I hope you will solve the issue. I condemn that professional(s) try to steal your client. No ethics. Shame on him/her.
Regards,
Cagdas Acar
Msc PSA VLB Realtor
832-283-1091
acarster@gmail.com
www.cagdasacar.kw.com
About 6 years ago
Why must they put 20% down? There seems to be more to it. Are they willing to get a second opinion? I have a couple of great lenders you can call. I don't want a fee or any of your commission in any way. It's a shame folks are holding lenders hostage for a referral fee. It's what's wrong with this industry now. Just want to see you win. Email me and I'll send you their contact info if you want
Jason@realinllc.com
Jason@realinllc.com
About 6 years ago
Ask your broker if your office has a preferred Lender? Interview some in behalf of your clients? Get the full scoop on why the current Lender is asking for 20%? Seems to be more there that isn't being said.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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