Going to a random internet lender can be one of the biggest financial mistakes you make in purchasing a home. Late closings, tacked-on fees and changed interest rates are all reasons why. Please use a referral (if not mine, then one from someone else you trust). Also, it is a financially smart decision to shop around when possible.
By the way, I get nothing from recommending the following lenders except the peace of mind that comes from knowing you will be taken care of properly. But tell them I sent you; it always helps.
From anyone you contact regarding getting approved, ask for an official good faith estimate. Lenders can only control the interest rate and the 800-line item fees on this sheet, so there is no need to compare any of the rest of the closing costs, as these are property- and settlement company-specific.
Lenders I Recommend and Trust
Jon Okun, Prosperity Mortgage/Wells Fargo
5101 Wisconsin Ave NW, Washington, DC 20016
Cell Number: (443)610-8371 | Work Number: (202) 243-2931 | Email: jon.okun@prosperitymortgage.com
Website/Online Application: www.JonathanOkun.com
Jon gives EXCELLENT customer service and is one of the quickest and most responsive lenders I know. He is very knowledgeable, competitive and has tons of different loan programs. Highly recommended; he lends for coops as well. Prosperity Mortgage/Wells Fargo is a Long & Foster affiliated company.
Mark J. Scott, SunTrust Mortgage
1445 New York Ave N.W., Washington, DC 20005
Work Number: (202) 350-9218 | Cell Number: (202) 341-0665 | Email: Mark.J.Scott@SunTrust.com
Website/Online Application: www.suntrustmortgage.com/marks
Mark is a responsive lender, and SunTrust often has competitive programs. They will also lend in buildings with high investor ratios.
David Lumb, Bank of America
3 Bethesda Metro Center, Suite 950, Bethesda, MD 20814
Work Number: (301) 634-4506 | Fax: (301) 634-4482 | Email: david.lumb@bankofamerica.com
David is a responsive lender, and Bank of America also lends to coops.
John R. Meyer, Presidential Bank Mortgage
4600 East West Highway, Suite 415, Bethesda, MD 20814
Work Number: (301) 694-1516 | Cell Number: (301) 520-0888 | Fax: (888) 814-2554 | Email: john.meyer@presidential.com
John is responsive and competitive. Has been in the business for a long time.
Clara Sachs, PNC Mortgage
702 Russell Ave #305 , Gaithersburg, MD 20877
Work Number: (301) 527-2150 | Cell Number: (301) 717-1168 | eFax: (866) 934-2613 | Email: clara.sachs@pncmortgage.com
Clara has been in the business for a long time, and is very responsive. PNC lends for coops, and Clara is experienced in dealing with these.
Brittney Malsbary, National Coop Bank (NCB)
2001 Pennsylvania Ave NW #625, Washington, DC 20006
Work Number: (202) 349-7455| eFax: (800) 325-0912| Email: bmalsbary@ncb.coop
Website/Online Application: www.ncb.coop/bmalsbary
Brittney can often lend on coops when others cannot. Her specialty is coops though she can do regular loans as well.
Renovation/Construction Lender
Greg Scholl, Prosperity Mortgage/Wells Fargo
Phone Number: (301) 650-4418| Email: greg.scholl@wellsfargo.com | http://www.gregscholl.com
He specializes in renovation loans and construction loans. He knows his stuff! Greg is a great resource for finding out about the construction loan process, whether FHA, Streamline or regular construction loan. It is a complicated process, and he is there the whole way through for his clients. Prosperity Mortgage/Wells Fargo is a Long & Foster affiliated company.