How to Choose a Home Lender

Obtaining a mortgage in today’s market for a future purchase or refinance can be a complex ordeal. A top financing professional can be critical in getting your offer accepted, or locking in the lowest rates and fees with the most favorable terms. Below are some questions you will want to ask, to make the best choice in choosing your residential or commercial lender or mortgage originator.


How will you help me determine my long and short term financial goals in relationship to buying or refinancing a property? Furthermore, which programs are best for me?

We will analyze your current financial picture, ask the right questions on what you are trying to accomplish now and in the future and then help you by setting up a plan accordingly. Questions we often ask are:

1)     How long will you live in the area?

2)     How long will you keep the property?

3)     Are you planning on doing any remodeling or adding on to the property in the future?

4)     When do you plan on retiring?

5)     Are you after cash flow or paying off the loan as quickly as possible?

6)     Plus many more…

Once we have your answers, we will advise on what loan program is best for you and what loan structure will meet your long and short term financial goals. This is done at the pre-approval appointment and reviewed again once in contract or when we lock your loan.


How will you help me understand the tax benefits of home financing for the future purchase of a home? We will determine your approximate tax write offs, net tax benefit, and net effective payment based on your tax bracket. Then we will compare your current mortgage payment to rent and you the benefit on a monthly basis in real dollars.


What is your process in assisting me so I can get my offers accepted?

We do several things that include providing a preapproval in ms-word, so then at moment’s notice the Realtor can modify the price of the preapproval to match any offer if purchasing below or at the original preapproved amount. We also call the listing agent on each offer to convey the buyers compensating factors and to differentiate the offer from everyone else’s. Lastly, we will help coordinate short closings and “as is” offers with no contingencies.


What methodologies will you use to lock at the “right time” and what happens if rates drop?

At 101 Loan, we use many online interactive subscription programs to track rates based on bond market activity, economic report activity and market trends. This provides our clients with the power to lock at the “right” time vs the wrong time when rates are worse. In addition, if interest rates drop, we have strong relationships to renegotiate the rate with the lender at a lower rate or pull the loan from the lender and go with another lender that is offering a more favorable rate. Having access to over 50 lenders provides a value proposition that other lenders and mortgage originators just can’t provide.


How long have you worked with the Realtor that referred me and what is your track record for closing on time per the contract?

We have worked with many agents throughout the bay area since 1990 and have closed over 3000 loans with a 99.99% success rate.


How long have you been in the business and what percentage of your business are purchases vs. refinances? 101 Loan has been providing mortgage financing services since 1990 closing an average of 75% purchase business with the remainder of refinance business from past, referred and online originated clients.


Can you provide me testimonials from clients that have used your services in recent past?

You bet…check out yelp at where we have over 200 “5 Star” reviews.


Do you provide personalized service?

Rob McCarthy and his team bring over 30 years of experience to the mortgage financing transaction, offering client’s unsurpassed exemplary service, competitive rates and “out of the box” thinking. His dedication and hard work yield customized mortgage solutions quickly and efficiently. Rob’s mortgage planning services start with a detailed pre‐qualification to determine your current needs and long term goals and loan options that apply to your situation, whether purchasing or refinancing.


How competitive are your rates?

As a mortgage originator, we have over 50 different relationships with direct lenders, portfolio lenders and mortgage banks; ensuring our clients have access to the best loan programs and lowest rates. As a result, you will receive the most competitive interest rates and access to every loan program available.


How fast can you process and close my loan?

Very quickly. Most loan officers work by themselves to close their loans. Some may even have an assistant but regardless usually take a long time to provide their clients with a preapproval, let alone even close on time per the ratified purchase contract.

At 101 Loan, we have a team that plays an integral part of quickly expediting requests and closing our client’s loan. Our preapprovals take 1 to 2 business days, and our closing can take between 3 and 4 weeks dependent on the loan program or the bank, the customer chooses.

Our team includes the following:

  •   Rob McCarthy – Owner and Senior Mortgage Planner who architects every purchase file.
  •   Renee Stephens – Senior Loan Coordinator, who reviews all files and provides the preapproval and closing estimate before any offer.

With decades of experience, our staff can quickly and efficiently process your loan ensuring a smooth and efficient closing. In general, we can close your loan quicker than our competition while still providing you with the best rates on the market.


Are you established?

101 Loan LLC and its agents have been providing mortgage financing solutions to consumers and the Real

Estate community for over 3 decades. Rob McCarthy has been providing the same services since 1990, and he is considered one of the top mortgage planner’s in the bay area for loan volume closed. This is from his strong relationships with realtors, past clients and lenders.


What separates us from the competition?

  •   Over 30 Years of Experience in Residential and Commercial Financing with Access to over 45 Lenders resulting in the Lowest Rates, Lowest Fees and Timely Service.
  •   Over 200 “5 Star Reviews” in Yelp, Facebook, Google and Linkedin.
  •   Expert in Reverse Mortgages and Jumbo Reverse Mortgages
  •   Access to Land, Construction and Commercial Financing.
  •   Access to All First Time Buyer Programs including FHA, VA and City Programs.


Contact us with any questions.