Mike's Macomb County Real Estate Blog

Top 10 Reasons to use MY Preferred Lender!

Ok ..... I just closed on a home last week with a buyer client of mine. My client used their own bank (which will remain nameless) for their mortgage services and things did not go so smoothly with them. This should have been a slam dunk for a mortgage person. A+ credit, good job, conventional loan, no concessions.


In the end we ended up closing and everyone was Happy, but I sure wish I would have recommended that my buyer talk with my preferred lender, I think it would have been a lot less stressful on my first time buyer, but hindsight is 20/20 as they say.


So in David Letterman fashion here's My Top 10 Reasons to use my Preferred Lender.


Top 10

#10)  It's not always about who has the lowest rates and fees. There's a Lot to be said for good service.            

 #9)  My prefered lenders office is right down the hall from mine.

 #8)  My preferred lender will actually look at the purchase agreement before the 11th hour

 #7)  My preferred lender will not sit on your file until 5 days before the proposed closing date

 #6)  My preferred lender is experienced in conventional, fha, va loans and condominiums.

 #5)  My preferred lender wants my repeat business!

 #4)  I have my preferred lenders cell phone #

 #3)  I can text my preferred lender even after hours and I will get the answers I'm looking for!

 #2)  My preferred lender has very competitive rates

 #1)  My preferred lender will not only get you a great rate but will give you great customer service!






Looking for a Great agent in Macomb County? Let me GOOGLE one for you. 

 Mike Mitchell -REALTOR®                                                               
 Real Living Kee Realty 


Call / Text: (586) 291-2652


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 Mike Mitchell - Real Living Kee Realty     


Comment balloon 12 commentsMike Mitchell • July 26 2011 11:34PM


Reasons 1 - 4 are all must haves!  Plus, it's always great to have that preferred lender at the settlement table.

Posted by Lisa Dunham, Associate Broker, Alexandria Virginia Real Estate over 8 years ago

Mike, your post is so well said, touche!  If only our clients would listen to us...  --Krystal

Posted by Krystal Knott, Breckenridge CO Real Estate & All Summit County CO (LIV Sotheby's International Realty) over 8 years ago

Mike....you get the suggest button.  Awesome post....and, for the record, these are my sentiments exactly!

Posted by Larry Bettag, Vice-President of National Production (Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001) over 8 years ago

I usually only consider new lenders if they did an exceptional job on a transaction.

Posted by Michelle Cherie CarrCrowe Just Call...408-252-8900, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty) over 8 years ago

Great post. Sound like you have a great list to present if you ever run into a similar situation. I have been there and there is no question it can ruin a deal. Congrats on making it work!! 

Posted by Alan Adamo, Your Huntington Beach REALTOR® (Westline Real Estate) over 8 years ago

The underlying theme of this list is that using a lender who your Realtor knows and has a business relationship with will result in a satisfying closing and using a lender unknown to your Realtor has a good chance of closing with delays or not closing at all. 

You should be working with a Realtor who includes fitting financing to your personal needs and who can direct you to options for low down payment loans, 100% financing and options for closing cost assistance from a variety of lenders.  There are some great loans that allow you to lock in a rate and shop, and loans that offer income protection in case your employment situation changes after you purchase.  Specialty financing programs in the NC/SC Greater Charlotte area for some income and credit qualified households, offer loans for buyers with no credit, low credit and middle credit scores down to 580 FICO. In Charlote NC and SC, we have a number of very solid relationships with lenders.


Posted by Daniel H. Fisher, MCRP - Charlotte Real Estate, NC or SC (www.FisherHermanRealty.com (704) 617-3544) over 8 years ago

Lisa - must haves! Absolutely!

Hi Krystal - if only! Thanks so much!

Larry - Wow! Thanks man!

Michelle - thanks for commenting!

Thanks Alan. I'll definitely be using this list in the future!

Daniel - thanks for stopping by and commenting!

Posted by Mike Mitchell, REALTOR (R) (Real Living Kee Realty) over 8 years ago

Mike--I am in LOVE with my "preferred lender"! I've written blogs about him and have him prominently displayed on one of my sites. He not only is the perfect personification of the kind of superb service I always want for my clients, but he also owns property at Fishhawk Lake, so he "gets' our community and what it's all about!

And over and over again, people have said thank you for introducing him to them...sure makes ME look good!

Posted by Gayle Rich-Boxman Fishhawk Lake Real Estate, "Your Local Expert!" 503-755-2905 (John L Scott Market Center) over 8 years ago

Gayle - sounds like you have a great preferred lender! Yes, I agree it does make us look good also.

Posted by Mike Mitchell, REALTOR (R) (Real Living Kee Realty) over 8 years ago

The days of wooing realtors with a donut and a rate sheet are long over (I was never that girl anyway).  The big question is, can they get the job done ON TIME with a satisfied borrower.  Sounds like you found a lender who can do that and deserves your referrals.  I work every day to continue to earn the referrals I am blessed to receive!

Maryland Mortgage Mama 

Posted by Bridget "Mortgage Mama" McGee, Maryland Mortgage Mama NMLS#196068 (SWBC Mortgage 410-960-2061) over 8 years ago

Thanks for stopping by Mortgage Mama. Yes, ON TIME is a big one. :)

Posted by Mike Mitchell, REALTOR (R) (Real Living Kee Realty) over 8 years ago


All of your reasons are good, but the really good ones involve being able to contact your lender, giving good service and not sitting on the file.  These days, you can't assume anything about the borrower's ability to close and you need to aggressively work toward closing from the minute you meet a client.

I'm not always going to have the best rate, but I'll bet any client that uses me (or any other experienced loan officer with integrity) will be happy at the closing table.  They'll be happy because the loan program was clearly explained to them, they received a HUD at least 24 hours before closing and all of the potential red flags of their deal would have been discussed in the first meeting with them.

I do a ton of Homepath Renovation deals and those are specialized loan programs where you need to know what you're doing or you'll wait a bunch of time.  It's especially important in those situations where you need to feel confident in your lender.

Thanks for the post about using a good lender and I wish you many closings.



Posted by Mario Rea, VA Loans.FHA Loans. New Construction.Conventiona (Talmer Bank) over 8 years ago