Mortgage broker advice.... (loan, real estate, pre-approved, fee) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

OneDayAttaTime · 09-30-2008, 09:24 PM

I had read awhile back that sometimes Mortgage Brokers will help you find a buyer for your house...in order to get the sale. Have a FSBO home in an area that will qualify for the Rural Development loan (100% financing....uh, well, one mortgage broker said up to 105%, when you add in the funding fee and roll in the closing costs.)

Would love to find a broker who is willing to get the loan that way but not sure where to start.

Anyone ever done this with a broker to help them bring you the buyer?

davidhomes · 10-01-2008, 09:38 AM

Im not sure what you mean by "bringing up the buyer" but the USDA loan is out there and a good tool for certain buyers. I am a broker that can do a USDA loan, just not sure what you are looking for here.

Bette · 10-01-2008, 09:44 AM

I think what you are referring to is mortgage brokers going to open houses and putting their flyers there.

I am a mortgage broker in Florida and am looking for ways to expand but I will have past clients call me from time to time and ask me if I know anyone who needs a home, has a home and you never know - I have given out names and they take it from there.

Part of my CFL belief - customers for life.

rcarrillo · 10-02-2008, 01:47 PM

We do the open house fliers, but also put FSBO homes on our website, give them yeard signs and a "marketing kit" with suggestions and standard forms (the kind you buy at Office Depot). Without a real estate license we can't negotiate, assist with contracts or conduct transactions... but we can assist with marketing and provide information on the process and preparing your home for a sale.

Its a great value added service to the FASO and brings us potential buyers that we can do the financing for. The FSBO gets marketing exposure and tips at no cost and the assurance that the buyer making an offer has been properly pre-approved.

Those are some of the biggest complaints I hear from FSBO. Of course marketing and getting people to see the home is tough... but its not understanding what goes next and fearing the buyer will fall through.