To start off with, we are a correspondent banker, which is different from a direct banker or a broker.
A direct lender only underwrites their own loans and can’t offer you other loan products that may be a better fit for you and this lessens your chances of seeing all that’s out there. Also, with a big bank you may spend most of your time “on hold”, waiting to get in touch with your loan officer.
A broker has access to several different lenders, but simply arranges the financing for the borrower, and does not actually lend any money. A Broker uses the underwriting staff and funding coordinators of the lender, not his staff, an extra layer that adds additional time to your loan process.
As a correspondent lender, Chicago Financial Services offers you the best of both worlds.
We have several lenders available so we can compare various loan products to offer you more options…better for you! We also have an in-house underwriting staff and fund loans with our own money. This allows us to be more “hands-on” and eliminates that extra layer in your loan process, which means quicker turn times. This helps to meet deadlines and to get your loan closed as promised…again, better for you!
Why choose me…
You should choose me because I will get you a great rate and provide you great service. I will be the one you talk with start to finish and give you options so you can make informed decisions.
We will talk about what you want to buy and how much you can afford based on your income and expenses. After that, I will take a little information from you, pull your credits and liabilities and call you back to discuss the loan options available to you. After you’re comfortable with the terms, I’ll send you a preapproval letter so you can shop with confidence knowing the home you’re looking at fits your budget. I’ll make sure the payment you get from me includes interest, property tax, insurance and any closing costs associated with your loan. This may be the biggest purchase of your life and you don’t need to worry about any unexpected surprises added to your payment.
Once you have an accepted offer on a home and have signed the sales contract, I will review the loan process so you know what to expect through closing and the general timeline. I will send you a UPS package with a cover sheet, outlining what we need to process your loan, along with your initial Loan Estimate. Most of what we do after that can be done through email or fax and I’ll stay in touch with you throughout the process. You will have my cell phone and can call me seven days a week up to 9 PM with any questions. It’s my job to handle any bumps in the road as they come up, not yours! Afterwards, I’ll meet you at the Title Company to close your loan!