I'm presently working with multiple self-employed mortgage applicants ... and as you would probably suspect, the process for these applicants is a bit more detailed in scope. Why? There are several reasons. A few of those reasons are found in an article I wrote just a few days ago entitled, "Self-Employed and Hoping to Finance a Home? What You Need to Know ..." But perhaps the detail that has historically been the largest stumbling-block and biggest frustration for my clients has surrounded the request for/and obtaining of their Federal Income Tax Return. The COVID-19 pandemic we are now facing has only served … (21 comments)
During a recent face-to-face mortgage application with first-time home buyers, it soon became abundantly clear to me that ...
The couple simply Had. No. Clue. As we talked together further,this also became obvious ...
Beyond the time we'd spent together in an earlier phone conversation (and subsequent follow-up email), they'd not given one moment of further thought or effort to their financing. Zero. Nadda. Zilch.
However, this couple had professed to me over and over that they "really wanted to buy a house". They said adamantly they "didn't want to rent any longer". But they'd done absolutely nothing … (7 comments)
As a Mortgage Originator, my ultimate goal in each transaction is exactly the same as my clients': A successfully completed mortgage transaction and Closing. But neither I or my client(s), should settle for just "getting it done". That simply shouldn't be enough. The buying/financing of a home is momentous. I want to create an "experience" for them that matches the magnitude of the accomplishment ... a financing experience that's a positive one. The act of financing a home should be memorable for a host of goodreasons. I myself have been a homebuyer multiple times, and I've certainly wanted … (9 comments)
mortgage applicants: Duking it Out Between a Rock and a Hard Place. What Homebuyers SHOULD Know VS What They WANT to Know
- 11/08/11 04:24 AM
Duking it Out Between a Rock and a Hard Place. What Homebuyers SHOULD Know VS What They WANT to Know As a mortgage lender, I find that much of the time I am in that proverbial "between a rock and a hard place". After almost two years now of working with the new Loan Application Disclosure forms (mainly the Good Faith Estimates and the Truth-in-Lending Disclosure), I wish I could say that clients were finding these important documents, and the whole mortgage process, more "understandable". But I don't think I'm seeing that. Sorry to say. … (44 comments)
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