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How to Ensure Your Loan Officer and Realtor Communicate Properly

When it comes to buying a new home, you will work with many different people along the way. Your loan officer should be your financial advocate, and your realtor should help you find a home that fits your needs and budget. It is important for your loan officer and realtor to stay in communication, and they should communicate properly in order to benefit you the most. Here’s what you need to know to get the best results.

The Relationship between Lenders & Realtors

A study compiled by LendingPatterns.com via the Home Mortgage Disclosure Act, in 2014, less than 10% of all home buyers that year had preapprovals from their lenders. However, realtors prefer when their clients have these preapprovals. It means they can actually buy the homes they see, and the realtors are not wasting their clients’ time by showing them homes that are out of their budgets. These days, more and more real estate agents refer their clients to trusted lenders, and these agents know which lenders are most likely to help clients in various financial situations.

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