Here is how it works. You are a buyer in a specific city or area. Those Real Estate agents know the BEST Local Lenders in the Santa Clarita real estate market. Those with the best reputations of being able to "Get it Done", even with obstacles in place. Those local lenders are able to close by the contractual deadlines, ensuring the buyers don't get charged for being late during close via a mechanism called "Per Diem".
For a Real estate buyer to find a lender to hold accountable for being able to close on time, it should not cost them any more than using one of the "online lenders". With the lenders that are "on line", there is no local office office to walk into when things go awry, to state your issue :-)
When it comes to real estate even lending is local. Just like some areas of the country are showing positive changes where real estate is concerned, some areas of the country are easier to qualify for loans as well. Lending has been holding back real estate recovery, after being the catalyst for the bubble in the first place.
Understandably lenders have been hesitant, not knowing what actual property values are they are gun shy to get back into the lending game. At the same time low rates are tempting people into buying homes, as headlines continue to blare extremely high affordability levels and improvement in sight. The question is, who can qualify for a loan?
While some areas of the country are still extremely tough to secure loans, others are showing improvement. For those that can acquire a mortgage opportunity appears to be omnipresent.
The best step for anyone considering buying a home today is to get pre-qualified for a loan. Call an experienced REALTOR today and get recommendations for lenders who are actually lending. There are loans out there to be had and if you are lucky there just might be money available in your area!
We have other real estate resources that will be of service to you. First and foremost - if you have a Realtor, Local Real Estate agent, please remain Loyal. If you don't have a lender and want to get introduced to the Best Lender that Santa Clarita has to offer - click here.