I’ve been doing Santa Barbara home loans for many years and this happens almost on a weekly basis. Here’s the story: The Buyers have been looking for many weeks..maybe even months AND bingo!!!!....They find the perfect property but there are 2 or 3 other offers. ….Now they need a pre-approval letter ASAP!
A friend of mine said something to me that I wanted to share with everyone (Realtors and Consumers). He said, “I wanted to get this done ASAP. I was willing to do anything to make sure my file stayed on-top-of-the-stack!”
I thought to myself…..”How true! The Santa Barbara home loan applications that get the most attention are those where the consumer is being VERY attentive to my staff’s requests.”
My friend proudly said, “I would turnaround the Loan Officer’s request within 2 hours. It didn’t matter what the request. I would just do it!” He kinda giggled, “My poor wife would say, ‘You’re pushing me! You’re pushing me!’ Sorry honey but we got to keep this Loan Officer focused on our file.”
Wow… here’s a consumer that “get’s it”. We all know that the mortgage process is way more difficult than it needs to be. We all know that the Federal Government has over-reacted to the "Mortgage Meltdown" and implemented some new “silly” rules. Nonetheless, “dragging your feet” or saying, “I’ll get that next week” doesn’t really help. It actually hurts your situation.
Sooooooo…. You need a quick pre-approval? You have a short escrow? Your best chances to get this done are like my friend said, “I would turnaround any request within 2 hours!”
Happy House Hunting!