Does this situation make sense?We reached out to a well-known Frum mortgage broker almost 3 months ago to refinance.He immediately took our information and contacted our accountant for our tax returns.Since then we have heard nothing.He barely ever returns calls/emails.About a month ago we did get through and he said he is overwhelmed with applications but he is getting to them.....To us it seems so unprofessional to not answer emails, not return calls, & to be taking so long.Frankly, we believe he should be reaching out to us to update us on the status of our application and not that we need to be chasing him.And yet, he is considered one of the big Frum mortgage brokers.Can anyone enlighten us please?Thanks.
Just like shopping for a car or any big purchase, it is in your best interest to shop around. I am in the middle of a home refi and took initial offer from about 15 different lenders/brokers. Rate is at historic low right now plus the new ‘Adverse Market Refinance Fee’ will take affect December 1st causing a major in increase in refi application. Don't sit around and wait for this one. Be proactive in your search!
I'm finishing up with my mortgage now. Broker was amazing to deal with. He always followed up with me. Not sure who you are dealing with, but I am having the complete opposite experience (plus a great rate)
I don't think it depends on how old the previous appraisal is or which bank it is. The banks all (mostly?) seem to be using the same system that will either require or not require an appraisal. According to the mortgage brokers I spoke to, it's 50/50 of the system will require an appraisal or not, but highly doubt that's a scientific number. I would try to find out more from the mortgage broker if I were you. I was just pointing out that it's not a given.As an aside, the mortgage broker I went with in the end, gave me a rate for 2.5/2.625% (I missed locking in at 2.5%), a couple of weeks ago. 30 year, conforming loan, refinance in NJ.
pm me with contact info please
Sent
Can you please send to me as well?
Can you please PM the info too?Thanks.
If you want something from someone, you need to be on top of them, even if they are making money off of it. Whether he's swamped or not, it definitely seems like your application is not a priority for him. Call someone else.
If someone gets co-signer on a mortgage, does the buyer need to show income ? Any good article I can read up about these rules ? Is every bank different ?
Ok, thanks.Everyone we call wants to first see our information before giving a firm quote.Does it make sense to send out our personal info to a number of brokers?
sure
Can I get the broker info as well? And also the current rate you got? Thanks