Your Lender is a Key Part of Your Team
A lender who is not familiar with Arizona paperwork and business customs can make your home purchase a nightmare. If they really messed up, they could even put you in jeopardy of losing your earnest money. To minimize your potential hassles, please use an Arizona loan officer.
In Arizona we do things differently than in other states. For example, we use a special “Pre-Qualification Form” which isn’t used in any other state. Here is an old version of a Pre-Qualification Form.
“We Don’t Do That Form”
In Arizona, our contract usually requires that a Pre-Qualification Form be attached to your offer so the seller can see where you are in the process of getting a loan. This form is a lot more detailed than a “Pre-Qual letter.”
Incredibly, I once had an out-of-state lender refuse to provide an Arizona form because they weren’t familiar with it! This was a huge problem because the contract said my buyer would provide this form to the seller.
After a LOT of phone calls, the buyer was able to talk the out-of-state lender into providing the one-page form.
If we hadn’t gotten the form from the out-of-state lender, it would have really ticked off the home seller because we would have needed to amend the contract to say the form would NOT be provided. That would have unnecessarily used up a lot of goodwill with the seller. That means the seller would have been less likely to cut the buyer any slack if later on during the transaction the buyer wanted the seller to be flexible about something else. And that could end up costing the buyer money.
Getting an Arizona Pre-Qualification Form from an Arizona loan officer is nearly effortless.
I would be happy to send you names of loan officers who have done a good job for my clients in the past. And if a loan officer knows you’re a client of mine, the loan officer is more likely to go the extra mile for you, otherwise, they know I’ll stop recommending them.