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Chapter and Member News

We are business professionals from a wide variety of industries who work together to send qualified leads to member businesses. Since we only have one individual per business category, you aren't working against your competitors, you've already won us over!

How Can I help you buy a home better than the banks?
Author: Alan Openshaw

I just received a referral for a client who wants to move. He will have 10% down and good income, but he has a 567 credit score. He went to a local bank and was told nobody would approve him with that amount of debt and that low a credit score. I took all of his information and issued a pre-approval based on then fact that I already got him approved through one of my lenders.

The rate is about 0.875% higher than someone with perfect credit, but I am pretty sure I can get his score up and make the difference to  only 0.5% worse than someone with perfect credit.

What else can I do better than banks? I have been a loan offficer for 15 years. I have 20 banks that I use. I know their guidelines and fully underwrite the loan myself prior to issuing a pre-approval. If you have ever heard of anyone losing a house because their mortgage was denied......that doesn't happen with me as I cover all bases prior to issuing a pre-approval.

If you have a particularly difficult situation, one lender may approve it and another may deny it. Having 20 banks to choose from I know who is good at what. I have got loans approved with the same big bank it was denied by a month previously. I have access to Banks wholesale side and can do ( for example) a Quicken loan quicker and cheaper than Quicken....by putting it thru their wholesale division. You get the same bank, but better rates, less cost  and better service.

Do you pay me a broker fee? No the bank does.

Can I help with credit repair? Yes and don't believe everything about credit repair that you read on the internet. Talk to me. I'm happy to help for free because tyically you see the value in my serevices and come back for a  mortgage.

Will I ever turn people away? Yes. If someone has a better rate than me and I can't compete I will let yopu know. Again you will always come back to me or refer friends if I do what's in your best interests. Will Wells Fargo ever tell you to go to bank of America? I don't think so.

The worst thing that can happen in the mortgage process is nasty surprises. Higher rates than quoted, higher costs, loan denial. I prep my clients for every situation. I never want to hear the words " you never told me that!" and it sdoesn't happen. I pride myself on giving accurate numbers so there are no nasty surprises.

I have no affiliated business relationships with title companies, Realtors and insurance companies but often refer my clients to the ones with the best service and/or price as a courtesy. I treat my clients money as I would my own and hate to see it wasted. Do I refer my clients to people in this group? Absolutely as we have some of the best service providers in the area. Only if it makes sense to my client will I even consider making that referral.

If you have a question, feel free to give me a call.

Best Regards

Alan Openshaw