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mortgages: What to say to a buyer who's on the fence. - 08/12/07 10:08 PM
We are all used to the buyer/borrower who can't make up their mind about buying, or which lender to go with. They come with the territory. But what we are now seeing a lot of, is borrowers who were pre-qualified losing the program, or the ability to get financed because a program guideline changed over night. I'm not talking about marginal credit buyers, but good solid borrowers.
Over the last few weeks I've seen the following
A) A NOO rate increase by a whole point on a borrower with a 760 credit score and 20% down/equity who was looking at doing 2 loans. They … (6 comments)

mortgages: When is a Mortgage Pre Approval not a Pre Approval? - 04/24/07 01:18 PM
When is a Mortgage Pre Approval not a Pre Approval?
 
There is a lot of discussion about the need for a pre-approval letter when buying a new home. Most Realtors will not accept an offer on a home without one, and many will not even show a home. But what is a pre-approval letter and is it really any good?
First, we need to look at the difference between a pre-approval letter and a pre-qualification letter. A pre-qualification letter is really just the Loan Officers hunch that the borrowers are good for the loan and that a lender will probably … (10 comments)

 
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Larry Morris, Oregon Mortgages

Sherwood, OR

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HomeStreet Bank

Address: 16200 SW Pacific Highway, Suite Z-3, Tigard, OR, 97224

Office Phone: (503) 639-2459

Cell Phone: (503) 421-0096

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Relevant news and information about issues relating to Oregon and Southern Washington mortgages and real estate. These views do not represent the views of HomeStreet Bank. View Larry Morris's profile on LinkedIn

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