Mortgage Blog

Why we should work with experts

February 8th, 2011 12:11 AM by Eric Fang

Just watched a bridge game(on Yhaoo) during
my lunch break, the team bid 4S and was done 2,
it was a very good bid. The first player said
the bid raised to 4S was bad. the dummy argued
that they can make it if they played rightly.

From my opinion, those players had different
opinions for the same game, and both were
"right" based on their own knowledge and expertise.
And I think they were not on the same level.

Same with mortgage applictaions. Especially
with some sophiscated loans for the investors.

I closed one purchase loan last week with
the rate 3.875% for 5/1ARM with buyer paying
all the closing cost. The buyer worked with
another agent with 3.625% at the beginning,
but did not get the approval.

I told the buyer that I did not quite the same
3.625% rate since I know he could not get the
loan approval based on his loan senarios.
His loan could not be approved by that lender.

So we went ahead with the lender who can approve
the loan. And we closed it successfully within
19 days.

Posted in:General
Posted by Eric Fang on February 8th, 2011 12:11 AM



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