According to The Wall Street Journal, choosing a large commercial mortgage bank can take up to 70 days longer to close on a mortgage loan or refi. Go with a smaller lender to get better rates and quick loan approval.
Choosing a private mortgage lender has it’s benefits over large commercial banks. Private mortgage lenders typically make their own assessment and lending decisions, if they are comfortable with the case for financing, as well as the risk related to the deal, they will issue a commitment to fund the deal.
Questions pertaining to your home loan will most likely take longer to answer with commercial banks. Commercial banks rarely lend on properties which need repairs or rehab, Strict LTV (loan-to-value) ratios to which they will lend.
To find out more contact us: www.mrloanapproval.com
Amcap Mortgage Ltd., offers the BEST mortgage rates in Spring, Tomball, Cypress, and The Woodlands!