Michael Holigan: " Hey, if you're ready to build or buy that new home, you're probably going to need a little bit of money, and where are you going to get that money? From a lender. So today we're going to talk about selecting the right lender. There's a few ways to do it, the best way is with referrals, and the first two people you should talk with are friends and relatives, they can steer you right, they've dealt with the mortgage companies or the banks in your area for a while, they've taken out a loan for a house. They will know how they work, who's the right one, who's the wrong one, if they've had a bad experience, avoid that, there's no reason to think, well, they may be better, just avoid it, go on to the next one, there's plenty of people that will lend money on a home.
Next, talk with your realtor, here's someone who has a relationship, they work with a lender everyday, they've got customers coming in and out, constant turn over, so they're going to see a thousand loans a year go through they're going to know who the quality lender is. Also, talk with your builder, your builder's going to have his favorite lenders, people that he sends plans to everyday, gets appraisals from everyday, that he goes to closings with everyday, he'll have a relationship, he'll know how they work, and he'll know how to make it smooth. That's what you really want, a smooth experience, you're going to borrow a lot of money at this time. Do an interview, first do it by telephone, call them up and talk to them, see if you can get an intimate relationship with them, and I do mean intimate, because you're going to have to tell them some secrets from your past about some of your credit, and you want someone you can really talk to. After you do it by phone, go ahead and talk to them in person, you want to sit down with them, and again you want to get intimate, you want to make sure that you can trust this person, that you feel good about this person, that you can tell this person some secrets, because they may need to know it to give you this loan, it's one of the biggest loans of your life, make sure it's smooth, easy process, talk to everybody, get their feelings also, and then go see them in person."
Episode 001 1995 - 96 Season
| Plumber | Stove Tip Bracket | Choosing a Builder | Kitchen Sink Remedy | Post-tension Foundation | Lifespace Home | Selecting a Lender |
To order a Video Tape, call 1-800-TO-BUILD and ask for Episode #001.