LOAN PROS FAQS
Where is Loan Pros located?
Loan Pros is located in Sumter, South Carolina and is an active Chamber of Commerce member. Our telephone number is 1-888-560-3532 and mailing address 550 Clifton Road, Sumter, SC 29153-8713. Please reference dept. LP584 in all correspondence so we'll know how you found us.
I do not have a pre-approved loan - can you help me?
We cannot assist you in obtaining a loan since our consultants must remain objective when reviewing a file. If we referred you to a special lender we would not be able to keep our objectivity. Please bookmark our site Click here and return when you have a pre-approved loan.
In the future our service will include assisting borrowers in obtaining loans once we are able to set up a method whereby we can separate the consulting end of our business from the "referral" end.
I have a pre-approved loan - what is next?
Your lender will provide you with a copy of your Good Faith Estimate. Simply fax the Good Faith Estimate to us at 803-775-3532 (reference number LP584) or click below to submit your Good Faith Estimate to us via e-mail.
E-mail is the preferred method, however if you choose to fax the document put a contact telephone number or e-mail address on your fax AND list the code number or department number (in this case, LP584) of the person who referred you to Loan Pros.
My lender did not give me a Good Faith Estimate....what should I do?
Pursuant to Federal Law lenders are required to provide borrowers with a Good Faith Estimate within three business days of obtaining a credit report. If your lender does not provide you with the required document within the specified time period they are in violation of this very important consumer protection law.
Contact your lender and request the document be faxed to you immediately. If you do not have a fax machine provide them with our fax number (803-775-3532) and send us an e-mail letting us know the document is being sent to us by your lender. In your e-mail please list a contact telephone number and reference department number LP584.
Do I need to pay any money up front?
Absolutely not.....our consultation is free. After your consultation if you wish to proceed and we are able to save you money an invoice will be prepared and sent to you for approval. Upon your approval we will fax a copy to your closing agent. The agent will add our fee to your closing statement.
What if I end up NOT closing and you have already contacted parties on my behalf? Do I owe you money?
Absolutely not.......Loan Pros is only paid IF you close and IF we are able to achieve a savings for you. No exceptions....no risk!
What does my Good Faith Estimate look like?
Generally it is a legal size form with the actual words "Good Faith Estimate" written at the top. It has numbered lines with a description of the fee and the amount being charged.
When sending the listing of fees to us via e-mail just tell us the name of the fee and the amount being charged. List all fees shown on your Good Faith Estimate.
Do I really need your help?
You may not need our help at all if your fees are reasonable....however there is no fee for us to review your numbers. Every consultant with Loan Pros is a former lender. You might be surprised at what we are able to eliminate.
Will you cut out all my lender charges?
Absolutely not......Lenders work hard for their money and deserve to be paid. Our "gripe" is with excessive charges and the "junk fees" charged such as duplicate processing fees, doc prep fees, administrative fees, and underwriting fees (just to name a few.) We will not ask any lender to lower or eliminate a fee which is reasonable.
I had a tough time getting approved for my loan......will my approval be jeopardized if you contact my lender?
Absolutely not.......we do not "confront" your lender. Rather, we place a very professional, courteous call to your lender and explain that you asked us to review the numbers. Lenders who are not guilty of overcharging have no problem with our service.
In all honesty, we occasionally we have lenders who feel threatened by our service but our consultants are very good at their job and are able to fully explain our service without jeopardizing your loan. We have never had a customer lose their approval due to our involvement.
View our service this way: We are simply a second opinion for you---similar to a doctor, a mechanic reviewing a used car, or the home inspector looking over your property for "hidden" structural damages prior to closing.
Can you help me with a car loan or a mobile home loan?
Loan Pros can only assist you with a mortgage loan. If you are purchasing a mobile home WITH land you will have a mortgage loan and we can assist you. If you are purchasing the mobile home to place on rented land or land which has a "clear" title then we cannot assist you.
I plan on using your service and have a brother who is closing too....how do I refer him?
When your brother visits our site ask him to list your name in the "referral block" so we can give credit to the same representative who referred you to Loan Pros. This will allow our representatives to build their customer base.
I can see how your service is valuable....do you have any home based workers?
Loan Pros has a profitable Business Opportunity for those interested in marketing our service. Visit our EMPLOYMENT section for further details.
If you don't yet have a pre-approved loan, bookmark this site and come back when your loan is ready to close. Click here to add this site to your favorites. Don't close your loan without us!