Depending on whom they represent, real estate agents help their clients purchase a property or sell a property, and mortgage brokers help their clients find financing for the property.
Similarly, do lenders and real estate agents work together?
Real estate agents and mortgage lenders work together to ensure the best possible outcome for their clients during the transaction. … Although in different professions, the agent and lender can assure the buyer a transaction with the same objective in mind; a transaction that will close and close on time.
People also ask, do Realtors talk to lenders?
It’s common for house hunters to sometimes think that real estate agents are the mortgage company gatekeepers. Frequently they have a list of trusted lenders they work with. … You’ll also want to talk about home loan closing costs and other fees.
Does owner financing go on your credit?
Owner-financed mortgages typically aren’t reported to any of the credit bureaus, so the info won’t end up in your credit history.
If you’re wondering whether you need a Realtor to buy a home, the short answer is no. You might be hesitating to work with one because you don’t want to be saddled with Realtor fees, but typically, buyers don’t pay a real estate agent’s commission — sellers do.
Some agents choose their preferred lenders because they get deals closed quickly and reliably. That’s also good for buyers, but the missing element in this equation is the loan cost. The in-house lender may feel that they have you “buttoned up” as a customer. They may feel they no competition for your business.