denied: That Darn Collection Account and Trying to get a Mortgage - 05/06/16 01:28 AM
Many times I will see a client with perfect credit and a random collection account pops up on their credit report. The majority of the time their reaction is of surprise and some choice words. As they did not know about it and rush to figure out what to do. Everyone’s situation is different but before you do anything about a collection account on your credit report it is important to know how it could affect your credit score and getting a mortgage. So I wanted to go over some points on what to do based on my experience when it … (2 comments)

denied: Dave Your Mortgage Guy Testimonial- Doug from Michigan - 03/30/16 04:29 AM
During the summer of 2015, my girlfriend Amanda and I started the house hunt for our first home. We found the house of our dreams after a couple of months and submitted our best offer. We submitted all information the bank needed only to find out (1 week before closing) that my status in the USA ( a TN visa ) is not accepted by the underwriter. Everything fell apart. I had searched the internet endlessly to find a solution that might save our deal. I found David Krichmar that wrote about Canadians being approved for home loans in Texas. We … (0 comments)

denied: STOP!! You may be working with the wrong Mortgage Lender - 03/09/16 11:54 PM
When buying a home finding the right mortgage lender is a huge deal. It can really be the difference between a great home buying process and a NIGHTMARE! So I was thinking, how would you know if you are working with the wrong mortgage lender. So here are my major points to keep in mind, so you do not make that mistake:
Were they Referred to You- When picking a mortgage lender it is important to ask for referrals. The #1 person to ask for a lender referral is your realtor. As they are truly the expert, they deal with them … (2 comments)

denied: I have just been Denied for a Mortgage….. now what?? - 06/16/15 01:08 AM
Getting denied for a mortgage when you want to buy a home is a horrible experience.  It can crush your dreams if you let it.  As a mortgage lender I was thinking of what you can do after you have been denied for a mortgage, so that eventually you will get approved to buy that dream home.  And here are my main points of advice to get you back on track after being denied for a mortgage:
Why was a I denied?- When the lender tells you are denied ask why?  And it better be a thorough answer or keep asking questions.  … (2 comments)

denied: 10 things that could MURDER your Loan Approval - 11/04/14 03:11 AM
You may have already read all the nice and polite articles about what to do and not to do when getting a mortgage.  And many of them may have had real cute titles.  Well, this article is to get your attention on things that could MURDER your loan approval.  Here is a list of 10 items that could cause your loan to be denied.  These are all things to think of before making an offer on a home, as you could lose your dream home over them.  Here they are
Opening new credit- Once you are pre-approved for a mortgage do … (2 comments)

denied: What Makes Up Your Debt to Income Ratio, For Your Mortgage? - 01/28/13 11:02 PM
When getting a mortgage your debt to income ratio is a major deciding factor on whether you get approved and for how much.  Your debt to income ratio is a calculation of your debts divided by your gross income(before taxes).  But there is more to your debt to income ratio, then just the calculation.  There is a couple major factors that go into qualifying your debt to income ratio(aka DR ratio).  Here is a list of the major items that make up your Debt to Income Ratio for your Mortgage:
1.      Bills- When calculating your debt to income ratio, your … (3 comments)

denied: Dave Your Mortgage Testimonial- David Gill - 12/12/12 11:48 PM
David, We can never thank you enough for what you were able to do, to help make my families dreams come true. After spending over 2 months with another mortgage company.  And going through all the trouble to get them everything they requested time after time.  Just to be denied, was a huge blow to our hope.  And with the dead line that we were up against, not only were we on the verge of losing our earnest money.  We were going to lose our dream home. I still don't know how you were able to do it.  But we are forever grateful that … (0 comments)

denied: Dave Your Mortgage Testimonial- Teresa Rafeek - 11/26/12 12:05 AM
"I used Dave the Mortgage Guy after I had been denied and worked over by another mortgage company. He worked with us to help us build up our credit score. Dave was there for the last year helping us navigate the loan process and even sped up our loan process when our builder tried to delay our closing date. Every time I had a question or concern I could reach him instantly either by phone or email. He made our loan experience an amazing and very informative experience! I would highly recommend him and have done so with my friends!"

denied: Have You been Denied for a Loan because of more than 4 Mortgages? - 09/20/12 03:30 AM
Have you been denied a loan because you have too many mortgages?  Many mortgage companies/Banks require that you do not have more than 4 financed properties(properties with mortgages).  This means you can own as many properties as you want but can not have more than 4 properties that have mortgages.   I am actually able to do loans even if you have more than 4 financed properties.  And can actually do a loan for someone who has up to 10 financed properties.  And if you need a mortgage for your primary home, it does not matter how many other mortgages you have … (0 comments)

denied: What is a CAIVRS Report and Can It Cause My FHA Loan to be Denied? - 07/16/12 06:40 AM
In short a CAIVRS Report is a report to see if you ever defaulted on any previous government loans.  CAIVRS stands for Credit Alert Verification Report System.  You must have a clear CAIVRS Report to get a new government loan, such as a FHA, VA  or USDA Loan.  This report will show if you have defaulted on any past Government Mortgages or even Government Student loans such as Sallie Mae Student loans.  This report is pulled when you loan is getting ready for or in underwriting. 
If you do not pass the CAIVRS Report you must address the account that … (0 comments)

denied: I Am New To The United States, How Do I Eventually Get A Mortgage?? - 07/14/11 08:55 AM
When coming over to the US, you have a couple items to pay attention to so you can eventually get a Mortgage.   I will go over the specific things to address when you move to the United States and how to be better prepared for eventually getting a Mortgage.  Here they are: 
Your Visa- Most likely you will be here on a Visa.  You want to make sure that Visa is an approved Visa to get a mortgage.  For the list of Visa's: Immigration Visa.  If Your Mortgage Lender denied you for a mortggage because of your Visa, but it appears on this list, … (1 comments)

denied: Know the Exact Guidelines for Disputed Accounts and Your Mortgage. - 07/08/11 05:47 AM
In the past I have written how Disputing your Credit Accounts can get your mortgage denied.  Since that time the lenders and government have come out with specific rules on Disputed accounts.  You still do not want to dispute your accounts.  The reason why disputed accounts is a problem, is because when you dispute an account it takes it out of you credit score.  So you could dispute a bunch of bad accounts and your credit score would increase.  But mortgage underwriters know this is a just a form of "cheating" to get a higher credit score.  And this is why … (2 comments)

denied: FHA Loans Under 640 Credit Score in Texas. Know Your Options!! - 06/06/11 11:27 AM
Many mortgage lenders have a minimum credit score of 640 needed to do approve a FHA loan.  But, that is not always true.  I am able to do loans under 640.  Here is the break down for FHA loans with scores under 640. 
Credit Score 620 to 639
With any  loan that has a score under 640 the underwriter wants to make sure the borrower is a strong client even thou their scores maybe lower. Here are the requirements needed to help you get approved for your mortgage with a score under 640:
A Debt to Income Ratio of 45% … (0 comments)

denied: 5 Great Ways To Make Sure Your Mortgage Gets Denied - 02/15/11 12:00 PM
When getting a mortgage make sure you know what to do and not to do.  This post will deal with what not to do.  Here are the top 5 ways to get your loan denied. 
Disputed Accounts 
If you have an account on your credit report that you are disputing, you may not get approved for a mortgage.  You must either have it resolved or you must have it removed.  For directions on how to get your disputed account resolved and updated on your credit report, check out: Disputed Account.
Open or Applying for New Credit
DO NOT APPLY FOR  NEW CREDIT!!!  Once … (9 comments)

denied: Do NOT Dispute Your Credit Accounts If You Want A Mortgage! - 02/07/11 05:41 AM
Recently, Mortgage Underwriting Guidelines have changed.  You can no longer have a disputed account on your credit report and get approved for a mortgage.  It must be removed, in order to get approved.  When you have a disputed account it is taken out of the scoring model, causing the underwriter to not get a fair and complete picture of your credit situation.  You must get this disputed account removed before the file goes into underwriting or before you can close on your mortgage.  Keep in mind the process of removing a disputed account can take 30-60 days.  Here is my suggested … (0 comments)

denied: Your Sugar Land Mortgage Lender. Get the Service you Expect! - 08/25/10 09:56 AM
Getting a mortgage to buy your dream home or refinance that home is a major financial decision.  When making this decision, you do not want to just go with a company on the Internet that advertises a lower rate.  There is more to expect from a lender, then just an advertised rate.  Here is just some of the things that separates me from my competition. 
I am available 7 days a week, not just 9-5 (bank hours) I have my own FHA and Conventional underwriter, allowing me to get answers quicker. And close your loans quicker I am local, not … (0 comments)

David Krichmar, ( - Legend Lending) Rainmaker large

David Krichmar

Sugar Land, TX

More about me… - Legend Lending

Address: Serving Harris, Fort Bend, Montgomery, Brazoria County, Houston, Katy, Sugar Land, Pearland, The Woodlands or anywhere in Texas!

Office: (832) 689-6012

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