OfflineHello everyone.
I am currently searching for a mortgage broker(s). I am in a position where I will be looking in 3 different states for properties because of my location. Are brokers only liscensed in the state where they reside or physical location or can they expand into other states? Not sure if I should be looking for a broker for each state or if brokers are able to do business outside of their "home" state.
Thanks
Greg
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Like countrywide or chase or bank of america.
Anita
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"FAILURE IS NOT AN OPTION"
Mortgage officers do have to be liscensed in each state they do business in. When you talk to them ask if they are liscensed in any other state. If you are in a location where 3 different states are a possiblity I would think it would be to the advantage of a mortgage officer to be liscensed in all those states. You may also find a company that has different loan officers liscensed in the different states, so you would be working with more than one loan officer but still from the same office. Using a national brokerage is a good idea but it does limit you to using only the programs they have available, working with a mortgage broker could open more options for financing to you.
Real Estate Coaching Consultant Eric
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You made a god point on that one Eric.
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Ok, all this makes sense. One of my questions to the broker will be if they do business in neighboring states. If not then I will either go with a couple different brokers or a national broker.
Thanks
Greg