As you may have read elsewhere on our website, Gary Sandler Inc., Realtors® sincerely appreciates the opportunity to share its real estate services philosophy with you. In a nutshell, we want all of our clients to experience “The Best Real Estate Has to Offer™.” Here’s how we do it when it comes to mortgages:
Mortgage Lenders and Shoe Stores
Gary’s said it before and he’ll say it again, “Mortgage Lenders are like Shoe Stores!” How so? For a start, both are retailers who offer their respective “products” to the buying public. And while it is common knowledge that most shoe stores carry hundreds of different and unique types of shoe products, many mortgage-seekers are unaware that individual lenders carry hundreds of different types of mortgage products.
Here’s something else to consider: Even if two retailers carry the same products in their respective “inventories,” they may not opt to offer them at the same price. Some Las Cruces area lenders have even been known to “push” their in-house products, even though they carry lower-cost products that are more beneficial to certain types of buyers. So how can a savvy consumer find just the right loan at just the right price and protect themselves from predatory lending practices? Gary Sandler has the answer:
Gary Sandler Inc., Realtors®’ Mortgage Broker Services Will Streamline Your Loan Process and Have Quality Lenders Competing for Your Business. Here’s how it works:
Gary Sandler is not an actual mortgage lender, but is authorized by the State of New Mexico to be both your Realtor® and your Mortgage Broker throughout your home-purchase process. As your Realtor®, Gary’s job is to help you find just the right home at just the right price. As your Mortgage Broker, Gary’s job is to originate your loan application, help you determine what type of mortgage or mortgage products match your financial goals, and submit your loan application to lenders of your choice.
The length of time you intend to own your home, the size of your down payment, your employment record, credit scores and a few other factors will determine which loan products best suit your needs. Once your loan product or products have been identified, Gary (and you, if you’re so inclined) will “shop” locally and around the country for the lender or lenders who carry those types of loans. After that, it’s “let the competition begin,” as lenders compete head-to-head for your business.
In preparation for your lenders’ competition, Gary will take your loan application, obtain a copy of your credit report, and prepare a Good Faith Estimate worksheet for your review. The worksheet will illustrate the approximate down payment and costs associated with your proposed transaction, as well as your loan terms and the monthly payment estimates they carry. Once that task is complete, Gary will “shop” your loan package and obtain genuine Good Faith Estimates and offers from at least three mortgage lenders.
Worried about too many inquiries into your credit files? No need. The only credit report obtained prior to you actually choosing the lender who will make your loan is the one obtained by Gary at the time your application is taken.
What does it cost to have Gary oversee your complete mortgage process? Nothing. Nada. Zero. The State of New Mexico wants your Realtor® to be your advocate, not someone who adds additional costs to your transaction. As a result, New Mexico law prohibits Realtor® / Mortgage Brokers from receiving any compensation for overseeing your loan process, other than the normal realty fees paid in connection with your purchase.
Receiving “The Best Real Estate Has to Offer™” not only includes getting a great deal on your home, it also includes getting a great deal on your financing.
Call Gary today for additional details.
Cell: (575) 642-2292
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