Realitor is pushing me to go with a loan officer?
VinWin asked:
I have recently started to look for a house and have already have been pre-approved by my bank for a mortgage. My bank will provide a loan officer at any time to meet with me. I also started to work with a realtor who seems to be pushing a loan officer, from a different bank, as I am starting to look at homes, even though I have already been per-approved. Has anyone else dealt with this situation? My bank offers a discount on the mortgage rate because my checking is also with them so I’m not looking to change and the rates are pretty standard across all the local banks. What advice is out there?
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Filed Under Renting & Real Estate |
Tagged With Bank Loan, Bank Mortgage, Loan Officer
Comments
8 Responses to “Realitor is pushing me to go with a loan officer?”
Sounds like IF your realtor knows you are pre-approved that she has a “deal” with this other loan officer. If she wants you to switch after you’ve told her you’ve got something lined up, I would. I would switch real estate agents. If a buyer’s agent is not serving YOU, he’s not doing his job.
walk away from that ‘realtor’ fast .
go loan shopping.
Your realtor shouldn’t be pushing you towards a loan officer. If you have good business with your bank than stay with them. They will usually give
you a discount on something if you have the mortgage payment taken out of your account automatically. Look into it see what they offer you
The real estate agent probably gets a little something from the loan officer of the other bank. Just tell your agent flat out that you are not going to consider using any other bank then the one you got pre-approved from. If he keeps pushing you he’s shady and you should find another agent.
Contrary to what all the other posters are stating this is not a reason to leave your Realtor. As Realtor in attempting to keep a consistent clientele we associate ourselves with loan officers. The understanding is that if the send us there clients that get approved for loans then we will send them our clients that are looking for a loan. He is just attempting to honor the commitment that he made to this loan officer. Just make it clear that you are not interested at all in using the loan officer that he has suggested. If you are comfortable with it you can even tell him why. I am sure after that he will back off.
Give your realtor the letter of pre-approval and tell him/her that if they don’t want to accept your lender, then you will need to change realtors. Good luck!
never hurts to get 2 opinions. i wouldn’t check with another bank though. but maybe talk to a broker tell them all the details of your transaction and see what they can get. often times they can blow your banks deal out of the water. HOWEVER make sure it is a good trusted broker, someone that a friend maybe refers to you.
going to another “bank” isn’t going to do much for you probably.
You are free to do what you want. The loan officer probably pays the agent a referral fee (which is illegal). It does not hurt to check out other offers though.