I have had a few scarey situations with random online lenders that buyers have chosen.
They were made to believe they would save money, and that is why they decided to work with a stranger.
Now, it is completely up to the buyer who they want to use. It is normal to want to save yourself as much money as possible. However, you are taking a huge risk if you don't have a personal recommendation for a lender.
One reason you may want to at least speak with the lender (s) your Realtor suggests is because those lenders want us to continue to refer to them, so they are "on their toes" with our clients. It is a built in accountability when there is a proven relationship of success.
Rest assured, your Realtor is not getting any kind of financial perk by recommending a lender. That is simply not allowed. Their reward comes when you recieve the service you deserve on your biggest purchase.
Be sure you have actual references when choosing a Realtor and a lender.
Interview them, ask questions. See who you communicate well with and who gives you the time of day. Ask your parents, mentors, and experienced home buyers who they recommend. There are some things that are worth more than potentially saving a few bucks.
BethAnn Long ~ Spokane Realtor
Coldwell Banker Tomlinson South Inc.
...there's no place like your home!
