After our pre-approval expired we had to begin the search for a new lender. We didn't have time to start from scratch and shop around again. Because the market was so competitive, the minute we found a house we liked, we had to submit an offer right then and there. Taking a week or two shop around for a lender was not feasible. Rick suggested the idea of using a mortgage broker. The advantage of using a broker is that they are able to shop around to get you the best rate because they have access to hundreds of lenders. Sounded good to us. He suggested we sit down with Jud Whyte at First Capital Mortgage.
Two minutes into the interview, my first thought was, why did I not meet this man before?!?!? I had never received that much information about the lending process. I learned things that no one had ever told me. He literally mapped out how we would get from point A to B. Yes, there were diagrams involved, yes he moves at the speed of lightning, and yes he still manages to be thorough and concise. And the best part? He broke it down in simple English. Let me put it this way, I recommend anyone who is interested in buying to sit down with Jud even before getting their agent. I say this because if for example there are problems with your credit, or if there is something that would worry a lender, Jud can get you in in good shape or at least put you on a path to become more attractive to a lender. See him before you go off falling in love with a home. Trust me, it will save you a lot of grief.
The Mister and I lucked out. Between Jud and Rick, we had the best team we could have possibly asked for.
Anyone have any good/bad experience with any other mortgage brokers? Please share!
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