PACIFIC GREEN FUNDING
Broker NMLS# 746372
Your Home Loan & Mortgage Refinance Solution with the Best Rates in California, Texas, and Florida
We treat each customer like family. We understand that each client's needs are unique and will work with you to obtain the best loan possible. By providing excellent service and by representing a wide range of A-rated lenders, we can fund your goals with great low rates and help you to achieve your home ownership and investment dreams.
With an A+ rating from the Better Business Bureau, 5 star client reviews all around and the vote of Best Mortgage Broker by the Annual Reader's Choice Awards, we pride ourselves in being the best at what we do. We are your go to source for making your mortgage a part of your financial planning.
There are So Many Options, How do I Narrow My Search?
First, understand the difference between banks and mortgage brokerages...
Banks
A bank offers a broad range of services such as checking, savings, CDs, car loans, home loans, etc. When it comes to a home loan, they have an in house criteria of who can get a loan, who can't, and what the available terms are for potential borrowers based upon their qualifications.
If someone wants to purchase a home and apply to a bank, they may not get accepted or may get too high of a rate and unfavorable terms. If this happens, they will have to go to another bank and apply again, and then go to another and so on, in order to find who will give them the best rate. If someone continues to shop for rates over an extended period of time, it can negatively affect their credit score.
Banks can get a high volume of clients, so the level of service you receive may not be as good as you would expect. In addition, many banks have standardized and segmented positions, so you can speak to a loan officer to apply for a loan, but they can't necessarily tell you which option is best, and they are limited to offering you only the products that they carry (competitors offer different programs). These loan officers don't actually have to process or review your details in the same detail as a specialized firm, so their ability to interpret and advise is limited.
Mortgage Brokers
Unlike a bank, mortgage brokers work with a broad range of lenders and investors to give their clients the very best options. This saves you time and sanity, because it is a one-stop shop! You only have to interact with one person instead of reaching out to tens and even hundreds of lenders. Better yet, you are guaranteed to get a better rate and far more likely to get accepted, even if banks have rejected your applications.
Typically mortgage brokers are easier to contact, which is very important since getting a loan or refi is such a big process. Staying updated and attuned to any needed changes in a timely manner is very important.
Which Mortgage Brokerage Should I Choose?
Not all mortgage brokers are created equal. Each have their own set of core company values, and each will work with a different set of lenders and investors. With that in mind, that combination of factors will reflect in client satisfaction. Looking at what past clients have said about their experience with the company can be helpful, especially if they have a verified account and their opinion seems to be valuable.
Look at their attention to the details.
Processing a loan takes an incredible amount of work and requires strong attention to details. With current mortgage industry regulations, many documents entailing income. asset and liability must be collected and reviewed. This is very time sensitive and demands seriosus accuracy, otherwise a mistake could be made. The team's detail oriented abilities are important. But how can you know they are detail oriented? It will show in three ways before you decide to proceed: 1. What is their online presence? Are they easy to find? Is their content relevant and error free? 2. What are their reviews? Good attention to detail means a smooth transaction and happy clients. 3. What is the broker saying? Is he getting into very good, specific information and teaching you new things? If not that may indicate a lack of detail orientation.
Look at their conversation.
What are they talking about, online and in person? Are they engaged in financial planning? A loan is one of the biggest financial decisions you will make in your life. It's not just about a single need (buy a house) because the length of a home loan may span other important events in your life (having a child, funding college, retirement). If the broker is not having any conversations about that, it is an indication that they have tunnel vision. In addition, they should take the time to clearly explain the entire process and always demonstrate competency in their language. If they show that they know a lot about the industry they work in, that's a sign that they are very good. If all they talk about is rates, then they might be superficial, and there is a chance that they are not experts. There are so many more things to consider when getting a home loan, rate is only one aspect, and they should be able to explain that.
Buying a House
When you're looking for a home, you need a pre-approval letter in case you find something and want your offer to be taken seriously. Getting a pre-approval is where some lenders cut corners (not all pre-approvals are equal). If you ask enough lenders, you can find one that will briefly glance at your pay stub and stamp a number on a pre-approval letter. This obviously is much faster than submitting all of your documents and getting them all reviewed first. The problem with taking a shortcut here is often after submitting an offer and going into escrow, upon reviewing your documents they tell you that the pre-approval amount is different or even that you can not get a loan! This can waste weeks and even months of your time and give you several headaches in the process. Don't cut corners for the pre-approval, and go with full documentation from the beginning so there are no surprises.
Hint: Now that you know this, when looking for a lender be sneaky. Ask them what documents they need for pre-approval. If they name a lot of documents ask them if they can do a quicker pre-approval with less. If they say "yes," then tell them "no," and "good bye."
Your future lender should not compromise up front, because that almost guarantees problems and delays.
In addition, look for these qualities in a lender to make the process as smooth as possible:
- Thorough (they do the paperwork right and ask questions)
- Responsive (do they move efficiently and engage you?)
- Knowledgeable (are you amazed at how helpful they are?)
- Friendly (that makes this a little more enjoyable)
Pacific Green Funding's Values
At Pacific Green Funding you're not just a client, you are a part of the family. We give each person the time and guidance that they deserve during the moments they need it the most.
It is our personal mission to provide the highest quality lending services possible. We are available when you need us, diligent in working hard to get you the best loan and committed to exceeding expectations in the end result.
Your complete satisfaction is our personal goal.