IamA Mortgage Loan Processor for a large lender in the US AMAA!
FIRST: I will not be mentioning the name of my company nor will I be attempting to gain business from this.
I am not licensed so I couldn’t write a loan anyway. I work on the processing/underwriting side.
If you are interested in a mortgage I suggest you call big and local names all the same. Every company is a trade off, one may have lower rates but higher cost, another the opposite, a third might have lower rates and costs but worse service or might sell your loan immediately.
Take your time, talk to various lenders and if you find one you really like service wise, but maybe costs are a little high don’t be scared to show them what another company offered, most large lenders will meet or beat another’s package.
What I can tell you is what sort of documents you may need, why they are needed, what sort of home repairs may be needed or just general advice if you have any questions regarding a refinance (I know less about purchase however most of the information is the same).
I can provide proof to Mods if requested however since that would also indicate my employer which I do not want to do I have not posted it here.
I have worked in this industry for just going on two years. I started working on the third party teams that would call insurance agents or counties for tax bills. Graduated to processor where I speak and guide clients through their refinance and most recently have stepped above to lead my own team of employees who guide clients through the refinance process.
TL:DR I process loans and documents and can answer the whys and whats of what a lender may ask you for depending on your situation.
UPDATE: That's all folks! I'll try to log back in later but off for the night!