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Sep
07
2010
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The first step is to browse our site and familiarize yourself with the different terminologies, doc types, steps in the loan process, program scenarios, etc. If you feel overwhelmed, no need to worry, the mortgage industry is complex and it takes even very intelligent mortgage professionals months to get a handle on it and years to master it thoroughly. Industry employees have the benefit of being immersed in the working knowledge of the industry on a daily basis. A quick overview of the terminology concerning issues, such as doc types, yield spreads, credit scoring, underwriting/processing, etc. can put you way ahead of many other consumers, however, and get you much better treatment.

Once you have a deeper overview of the process and the pitfalls to avoid, LoanShoppingPros can help you as an individual borrower more specifically with your particular situation and credit profile. When you are ready to start mortgage shopping, click on the link below to our short form referral page and more information how LoanShoppingPros can help narrow down your specific qualifications so you can be put in touch with the right lenders

(Click Here For Online Short Form)

 

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You may call (347)724-9074

If you are in the middle of a loan search we strongly recommend you fill out our short online form. Although we are happy to answer questions and calls from the general public, priority must be given to borrowers who are at some stage of the house(property) hunting process. Handling and routing loan requests requires care and depending on the type and difficulty of loan varying levels of time.

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 You can also send emails to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .  We can answer quick questions through email.  In depth questions are best answered over the phone by filling out our short form.

Note: Consumers who do fill out our form and are contacted by LoanShoppingPros, will receive other ways to contact us more directly when they are at critical stages in the mortgage process. We will provide you with our borrower contact email and a fax number where you can send offers to be reviewed.

 

 

 
 
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RateShopping Guide

Understand The Ins, Outs, Complexities and Pitfalls of Rateshopping

There is a great deal of confusion among consumers and the general public when it comes to mortgage rates, partly due to the amount of false advertising and disinformation put out by the mortgage industry iself, the rest due to complexity involved in the everchanging movement of interest rates. All borrowers are faced with a variety of questions. What rates am I truly qualified for? Why didn't my friend, family member or neighbor wind up with the rate they first saw advertised on TV, Newspapers and the Internet? How often do rates change? What are ratelocks? What factors affect the rate I receive? (variables such as types of loan documentation, income ratios, credit/FICO scores, etc). If you feel like you have not always received a straight answer from other mortgage sources often times there is a simple reason why. Many companies believe an ill informed consumer is a better consumer and rely on the gaps in knowledge in order to squeeze out higher rates and fees.LSPros can help mortgage shoppers understand the details involved in rateshopping. What reasonable wholesale/retail mortgage rate mark ups are, how often rates in reality change and understand insider terminology such as yield spread premiums. We can save you endless extra hours of rateshopping over the phone as well as help you prevent being ripped off by your lender when it comes time to lock your rate in. LSPros has access to insider wholesale industry ratesheets and can quickly zero in on what real rates should be so shoppers...
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Understand Mortgage Paperwork Flow/Steps In The Loan Process

Mortgage Shopping Is About GOOD RATES and GOOD SERVICE

Most consumers think mortgage shopping is exclusively about getting good rates quoted over the phone. There are quite a few companies out there that may be able to deliver competitive rates yet differ widely in their service and ability to get loans funded on time. LSPros goal is to direct you to both PRICE and SERVICE leaders in the mortgage market.The mortgage industry is filled with bankers and brokers who are notoriously slow in underwriting and processing their loans, unnecessarily prolonging your approval and time too closing. Understaffing is an industrywide problem. LSpros will help you understand the flow of paperwork in the mortgage process (not everything is the mortgage companies fault when things go wrong, many issues outside the mortgage company control can pop up during the process, such as title problems) from application to processing, underwriting and closing. We do our best to actively screen lenders who are able to stay on top of the mortgage paper...
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