In today’s competitive market, it is crucial that you be pre-approved for financing when submitting an offer on a property. In addition, you will benefit greatly by obtaining your pre-approval from a local, reputable lender. That way, the seller’s agent will know you are getting a loan through somebody who will deliver on promises in a timely and professional manner, and your offer will be much stronger.
When obtaining a home loan, you have two options. You can go directly to a bank, such as Wells Fargo, and be assisted by the bank’s mortgage salesperson. Or, you can contact a mortgage broker, who will shop many banks for you and find the best loan to fit your particular needs. In my opinion, working with a loan broker results in better terms and substantially better service – and you pay them the same fee you would pay the person sitting behind the desk at the bank.
In my experience, the best-known and most-respected loan brokerage in this area is MPR Financial. At MPR, I particularly recommend Tom Nitsan. Tom is responsive, clear, direct, and he does what he says he will do. I’ve been working with Tom for over 10 years, and he is who I trusted with the mortgage on my own home purchase.
I also like Kurt Herrenbruck, with the Fishman Financial Group in Berkeley. Kurt is always willing to go the extra mile, and he is great at finding creative solutions to sticky problems. I’ve known him for 20 years, and he has done an excellent job helping many of my clients.
Finally, to round out your mortgage shopping, you may want to contact Zach Griffin at LaSalle Financial Services. Zach has obtained financing for the Buyers of several of my listings, and he is quite personable, dependable, professional and sharp.
When you buy a home, I will be in close contact with your lender, from the pre-approval process through the appraisal, providing the purchase contract and title report, processing the loan, and signing the final promissory note and trust deed.
Please be sure to mention my name to your chosen broker, and feel free to contact me to discuss any aspect of the mortgage process.