MLO | Mortgage & Real Estate Guide

The Risk of Switching Mortgage Lenders While Buying A Home

August 27, 2021 MLO Show Season 4 Episode 7
MLO | Mortgage & Real Estate Guide
The Risk of Switching Mortgage Lenders While Buying A Home
Chapters
MLO | Mortgage & Real Estate Guide
The Risk of Switching Mortgage Lenders While Buying A Home
Aug 27, 2021 Season 4 Episode 7
MLO Show

A majority of homebuyers get pre qualified or pre approved with the most convenient person or company at the time. Then, they find a home, make an offer, get offer accepted, and finally go to the drawing board and decide who will be their lender. This common approach not only leaves you susceptible to your contract being terminated by the sellers. You could have been making major decisions on offering a home with inaccurate information and financials from that original lender. In this episode, Addy and Casey discuss a better approach to deciding who your lender should be as well as the consequences that are in play if you decide to switch lenders during the home buying process. 

📲 Have Questions? Call OR Text our VIP Hotline! (503) 847-9038

🔊 The MLO Show is also available on all major podcast platforms. Be sure to subscribe to get all your favorite content at your fingertips! 

✅ Guests are NMLS Licensed Mortgage Advisors:

🎙 Addison Nett NMLS 1542184

🎙 Casey Carpenter NMLS 1458123

Additional Company Notes:

© Finance of America Mortgage LLC is licensed nationwide |  | NMLS ID #1071 | This is not a commitment to Lend. All scenarios are subject to approval, loan program, and underwriting decisions. Finance of America is an Equal Opportunity Lender

Show Notes

A majority of homebuyers get pre qualified or pre approved with the most convenient person or company at the time. Then, they find a home, make an offer, get offer accepted, and finally go to the drawing board and decide who will be their lender. This common approach not only leaves you susceptible to your contract being terminated by the sellers. You could have been making major decisions on offering a home with inaccurate information and financials from that original lender. In this episode, Addy and Casey discuss a better approach to deciding who your lender should be as well as the consequences that are in play if you decide to switch lenders during the home buying process. 

📲 Have Questions? Call OR Text our VIP Hotline! (503) 847-9038

🔊 The MLO Show is also available on all major podcast platforms. Be sure to subscribe to get all your favorite content at your fingertips! 

✅ Guests are NMLS Licensed Mortgage Advisors:

🎙 Addison Nett NMLS 1542184

🎙 Casey Carpenter NMLS 1458123

Additional Company Notes:

© Finance of America Mortgage LLC is licensed nationwide |  | NMLS ID #1071 | This is not a commitment to Lend. All scenarios are subject to approval, loan program, and underwriting decisions. Finance of America is an Equal Opportunity Lender