Buying our first house, are standalone mortgage companies a good idea? any advice will help...?

I happen to work for a standalone mortgage company, however I am not a loan officer. You have to realize that when you deal with an independent broker, they are working in conjunction with a bank. For example, if you were to get a loan through Company A or Company B, the loan would be funded by Bank of America, Wells Fargo etc. Working with an independent broker allows you to also use programs that a bank wouldnt normally offer such as Hard Money loans, FHA loans, and they would be able to get you a loan easier than an individual at the bank would. You also have to consider the fact that loan officers at an independent broker do not have to meet a quota each month whereas an individual working for a bank would. After working for the company I currently work for, I would never go directly to a bank to get a loan if purchasing a home because my company does real estate, conventional mortgage, reverse mortgage, in house processing and in house escrow, meaning that I can buy a home and get the loan in the same building. I hope this information has helped you.Buying our first house, are standalone mortgage companies a good idea? any advice will help...?
Have you thought about just saving cash and buying a home through a government auction? Many of them are in very good condition.. They have been foreclosed and seized for various reasons.





The bank is desperate to get at least some of their money back so they'll sell for very low prices (sometimes only 10% of what a house is worth!) just to get some money back from it.





You pay in cash at the government auction and the house is yours. You don't have to worry about getting loans or making payments or anything. You could also turn around and resell it for three times as much and then buy an either better home if you want to.Buying our first house, are standalone mortgage companies a good idea? any advice will help...?
My question is this, does it really matter who the mortgage is through? People have their preferences and some hate this place, or love another. What matters is are they structuring the mortgage to not only fit your current situation but to help you meet your goals and dreams for the future as well. I know it's a lot, especially when buying your first home, but do not overlook it's importance. The mortgage professional should have asked you how long you plan on being in the home, your goals and plans for kids, your retirement goals and dreams. Everyone seems to think that you have to get a 30yr fixed mortgage, and it's not true. Many people's 401k will never reach the value their home will. A home is not just a place for family and friends, it's an avenue of dreams to be followed. Explore all the options out there. become educated, understand how rate and term can work together to help you meet your future goals, if you havn't yet, go to fha.com or fha.gov and do some research, explore first time home buyer programs, understand the terminology so that you can express EXACTLY what you want, and if that mortgage professional cannot obtain it for you, find one that will, it's your home, your life and your money, don't let someone else run it, good luck
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