So I’m going to try to keep this from being a rant.
But..... man oh man was this appointment miserable for us! First and foremost, this was not a simple meeting. They truly expected us to have all documentation on hand (less than 48 hours after we signed our purchase agreement) and be willing to hand it over for them to process us for a fully underwritten loan. This sounds fine, except for the fact that we didn’t really want to go with NVR and already had a mortgage broker picked out. The loan officer couldn’t fully answer my questions except to say that we had to be fully underwritten with them in order proceed. Her rationale was that if we didn’t manage to get a mortgage with the other company, at least Ryan knew we were fully qualified. To an extent, we understood that. But, the purchase agreement technically read that we had 7 days to apply for a loan with a mortgage company. We reread the section and never saw anything about it having to be NVR. At one point, the loan officer said she was going to make some copies for me and we were almost done. Nearly 20 minutes later she finally came back and said she had been talking to her manager. It seemed as though she wasn’t used to people asking questions about why their rates were so much higher than the market was dictating (the hubby has these constantly refreshing on his phone!). She said the market rates weren't accurate. When I asked about lock in periods, she was quick to say NVR was the best and couldn’t be beat. But when I asked when we could lock in she said not until about 70 days from our projected delivery date. So she wanted us to sit there and watch the rates tick higher and higher without locking in for months! When I mentioned other products with different lock in periods, she told me I was wrong and they only locked for 30 days. I’ve had clients use these different brokers and truly have longer lock in periods. To be blatantly told incorrect things as facts really undermines my trust in a company or willingness to explore their options! Rant over...sorry, I guess that really did turn into more of a rant! -Ashleigh
But..... man oh man was this appointment miserable for us! First and foremost, this was not a simple meeting. They truly expected us to have all documentation on hand (less than 48 hours after we signed our purchase agreement) and be willing to hand it over for them to process us for a fully underwritten loan. This sounds fine, except for the fact that we didn’t really want to go with NVR and already had a mortgage broker picked out. The loan officer couldn’t fully answer my questions except to say that we had to be fully underwritten with them in order proceed. Her rationale was that if we didn’t manage to get a mortgage with the other company, at least Ryan knew we were fully qualified. To an extent, we understood that. But, the purchase agreement technically read that we had 7 days to apply for a loan with a mortgage company. We reread the section and never saw anything about it having to be NVR. At one point, the loan officer said she was going to make some copies for me and we were almost done. Nearly 20 minutes later she finally came back and said she had been talking to her manager. It seemed as though she wasn’t used to people asking questions about why their rates were so much higher than the market was dictating (the hubby has these constantly refreshing on his phone!). She said the market rates weren't accurate. When I asked about lock in periods, she was quick to say NVR was the best and couldn’t be beat. But when I asked when we could lock in she said not until about 70 days from our projected delivery date. So she wanted us to sit there and watch the rates tick higher and higher without locking in for months! When I mentioned other products with different lock in periods, she told me I was wrong and they only locked for 30 days. I’ve had clients use these different brokers and truly have longer lock in periods. To be blatantly told incorrect things as facts really undermines my trust in a company or willingness to explore their options! Rant over...sorry, I guess that really did turn into more of a rant! -Ashleigh
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