ATTENTION
REALTORS

Attention realtors. We have a few things that is going to help you to not only stay afloat but also thrive in this market. But first let’s analyze the problem. First of all there used to be 2 elements when qualifying a prospect moneywise. Number one is the down payment. Second is the closing costs including any points, fees, as well as third party costs. A lot of customers are barely able to qualify as it is. And now it just got more crowded. By having the buyer pay for the buyers agents fee makes it really tough. Especially when the client barely has enough down payment and closing costs as it is. So what’s the solution ?

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We here at Loansbetter.com have come up with a couple different solutions. First we have our own in house grant program that will cover up to 5% of the money towards down payment or closing costs. This will allow room for you the realtor to be able to charge your realtor fees to your client. By taking some pressure off it should make for a much easier sell. 

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Did you know that HUD changed their rules and regulations a few years ago regarding acting as both the real estate agent and loan officer ? Yes it seems like just yesterday that doing both was considered illegal. But my my my have times changed. 

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The reason we here at Loansbetter.com wanted you to know this is because we feel to make a better real estate agent you need all the tools available. Kind of like Batman. One of course is our award winning down payment assistance program that will help alleviate some of the pressures of either the down payment or closing costs or both. But in order for you to exercise all your options we feel that we should share both options. Kind of like losing weight. You can work out. But that’s only 1/2 the battle. You also need to eat right. It’s the same for what just happened with NAR. Unless the rules change in your favor which is highly unlikely you need to find a way to earn more. And we have the answer. 

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Did you know as of a few years ago HUD (as we mentioned before) allows you to earn both the real estate and loan commission ? Of course there are a few things you need to do to make it official (and legal of course). But we have just the program for you if you are so interested. 

First of all if you already have your real estate license there are only a few things you need to do. And by the way we can help you the whole step of the way. 

First you need to take the 20 hour SAFE act course. This can be taken in class or online. 

Next you need to pass the background check. This is no different than when you passed your real estate exam. You will need to also get your fingerprints done if you haven’t already done so. 

Third you will need to take your MLO examination. This is a national exam and can be taken at any number of places. For references let us know and we can refer you to one in your local area. 

Fourth. You will need to pay any licensing fees to the state you are applying for and or apply for a mortgage bond. During this time depending on the state they may run your credit to see if you are credit worthy. 

Fifth. You need to take your CE (continuing education) depending on what state you are getting licensed in. Most are only a few hours only. For a complete list of how many hours depending on the state CLICK HERE

And that’s it. By the way I know this sounds daunting but our management team has helped hundreds of real estate agents get their MLO endorsement over the years and we can help you too. If you want assistance CLICK HERE