Who Does Your Loan and Who Does Your Down Payment Assistance?

So you just finished talking to your loan officer and he told you that you would qualify but you need to find a down payment.  He either gave you no direction or he told you to see if you can find a down payment.  What do you do?

It might seem harsh but the first thing you might want to do is find a different loan officer.  Over 95% of down payment assistance is done by the same loan officer that is doing your main loan.  The more troubling statistic is: 0ver 90% of loan officers have never down a down payment assistance loan.  If your loan officer is telling you to look on your own, it most likely means that he does not do down payment assistance or worse, does not know how to do down payment assistance.

The problem is that down payment assistance loans take more skill and time and work than almost any other loan in the same purchase price range.  Most loan officers just do not want to put the time required and needed to work with people with little money and, many times, with lower credit scores.

So why don’t they just tell you to find a loan officer that specializes in Down Payment Assistance?  It is human nature.

Think of a different example.  Why don’t people throw away things they have not used in years?  They think that they might need to use whatever it is as soon as they get rid of it.

This is the same with loan officers.  They are afraid that as soon as they tell you to find a specialist, someone you know is going to call you and tell you they will gift you the money, or maybe you will win at pull tabs or maybe you will find a bag of money on the side of the road, etc.  They are afraid that someone they send away will find a way to come up with their own down payment and now they have lost you.  In their eyes, it is better to have you lose out, then to have them possible lose a loan if you come up with a down payment.

All loan officers that work with us are down payment specialists.  Fill out a loan application now and let us help you buy a home.

Click on this link and let a specialist in your area help you with your loan, and down payment assistance.  www.GreatUSLoans.com