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Sep
07
2010
Today
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Just Started Looking For A Home? Print E-mail

When looking to purchase a new home many realtors require a mortgage pre-approval before showing a property. A preapproval shows you are a serious buyer and may help you negotiate a better price in today's tough credit market. So even if you are not ready to buy LoanShoppingPros can help in two ways:

 

1. You can still use our quick online short form and we'll connect you with up to 3 lenders with whom you shop and ask to be provided with a preapproval. Just write in the comments section of the form you are seeking a preapproval.

 

Or

 

2. LSPros can you provide with a written Mortgage Market Qualification Opinion. Mortgage Market Qualification Opinion's are for people who don't want their credit run by many different lenders over a longer period of time if they are not ready to buy yet. Too many inquiries can hurt your FICO score a few points every time your credit is run (unless the checks are all done withing a period of 30days). An MMOQ lets you run you own credit at a site such as www.myfico.com. Let us know you scores and perform a deeper qualification and after an interview we'll see if you are qualified for our MMQO. A Mortgage Market Qualification Opinion explains who we are to potential Realtors and sellers as well provides you with the most likely purchase price amount and loan to value qualification. Fill out our quick online short form and someone from LoanShoppingPros will contact you to explain further. A Mortgage Market Qualification Opinion may take some time but the deeper qualification gives it more credibility. Some real estate professionals already consider them better than coventional preapprovals because as third party, we tend to be more objective.

 
 
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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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