Lehigh Valley Mortage Companies - How Important Is Your Choice?

Today, I received a 3 page list of mortgage companies that have gone out of business, are on the virge of going out of business, or they are having problems and doing layoffs. I was somewhat surprised at the length of the list.

As a Lehigh Valley Home Buyer or Home Seller, the mortgage company being used to purchase a home is critical. Every company offers different plans based on income and credit score. If a home buyer is in the gray region, that plan may be canceled at any time if a company decides it is too risky of a loan.

Will the loan actually get funded? Will the company still be in business? These are all legitimate questions from a home buyer or seller point of view.

As a home buyer with an old pre-approval, it may be time to touch base with the mortgage company and make sure everything is okay and get a new pre-approval. When you find your dream house, you don't want the offer rejected because the seller has a problem with your mortgage company selection. I have definitely seen one contract chosen over another due to buyer financing options.