loan officer’s role????????????????????????-?

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i am looking for a VA loan for my first home. Should i go through mortgage broker as loan officer or directly contact the bank.What’s loan officer role in getting a loan and how can i benefit or hurt by using and not using them?

  1. Reply
    February 7, 2011 at 6:07 am

    Go sit down with your local banker and she/he will help you through the process. IF your credit is good and you have a nice 20% down you do not need to pay for the services of a broker.

    Don’t get me wrong there are times when I do recommend a GOOD broker if you have “issues”.

  2. Reply
    February 7, 2011 at 6:58 am

    Call a bank. You don’t need to pay a mortgage broker if you’re willing to dial the phone a few times.

  3. Reply
    Buyer's Agent 80228
    February 7, 2011 at 7:03 am

    Let the loan officer do the heavy lifting. They know all of the rules and regulations, and they get paid to make sure everything is right when the deal goes to closing. Think twice about this before you get too abitious. If you use a broker and something isn’t right at closing it’s the broker’s problem, not yours, and any potential liability for the error is on them.

    If you try to deal with the bank yourself you will be surprised at how much work is involved. It will consume a lot of your time and energy, and will probably have a negative effect on your job performance. Also, you being an amateur, it’s possible that the bank will try to take advantage of you ($ $ )

    BTW, Rebecca, VA loans are 100% of the purchase price, no down payment required! Both sides have to pay some closing costs, but the purchase price is completely funded.

  4. Reply
    February 7, 2011 at 7:45 am

    I had a good broker at…. They gave me like 10 options

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