Push Button Get Mortgage?
Mortgage Broker
Emmett Dempsey Mortgage Broker
Published on November 18, 2019

Push Button Get Mortgage?


Today I would like to tell the story about a client of mine who recently bought a beautiful vacation home in PGA Village in Port St Lucie, FL last month; The Abraham Family.

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They live in New York and are close to retirement.  They wanted to buy their dream vacation home now and move down later when they retire, which is typical for a lot of current Floridians.

Ordinarily this is a fairly simple process; However, they decided to use that Push Button Get Mortgage Company, whoever they are.  🙂  Turns out the Rocket exploded. 🙁

I get a call on 10/7/19 from a number I didn’t recognize and out of the area.  I pick up, say hello, and Gloria begins to explain her situation:

Verify my mortgage eligibility (Sep 27th, 2020)

“I am buying a house in Florida, and my lender is saying the appraisal is no good, and we’re supposed to close this month!” she explains.  “My Realtor asked me to call you to see what you can do.  Can you help me?”

Well I went through my application process and the goals they were trying to accomplish.  I asked them to send me all the documents, which she did quickly.

After I reviewed them, it turns out they were under contract since 9/1/2019 and due to close 10/31/19..24 days from now.  Based on their financial profile, it should have been a relatively simple close.

Verify my mortgage eligibility (Sep 27th, 2020)

It turns out, the Rocket underwriter would not accept the appraisal that the other lender ordered, which was an overlay we didn’t have.

Long story short, we were able to meet the 10/31 contract date with a new appraisal, and a little hustle.  🙂  Happy ending for sure for the Abrahams!

However, the rest of the story is how much we saved this client…

Verify my mortgage eligibility (Sep 27th, 2020)

That other lender had the mortgage on their home up north.  They had used them for years, refinanced with them over the years, etc.

So they must have given them a great deal right?  After pricing up their new loan and getting the actual Loan Estimate (LE) of the other company, the answer was clearly NO.

Not only were we able to close them on time, but at a rate a FULL PERCENTAGE POINT lower than the Push Button Get Mortgage company…1% lower and fees thousands of dollars cheaper.  I was stunned.

Verify my mortgage eligibility (Sep 27th, 2020)

Moral of the story?  Friends don’t let friends use the Rocket.  Pushing that button could be very expensive!  Use a local lender.  You will be glad you did!

I am happy the Abrahams didn’t have to pay that price and are now enjoying their new Florida home, at a great rate.  🙂

If you are looking to buy, sell or refinance (or know someone that is), I would love to see how I could help your family.  Reply to this email or you can schedule a 15 min chat at this link HERE.

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Mortgage Broker
Emmett Dempsey Mortgage Broker
Click to Call or Text:
(772) 618-5058

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