pre approval: Mortgage 101 in New Jersey – Getting to know the borrower
- 07/13/11 12:01 PM
Mortgage 101 in New Jersey – Getting to know the borrower’s wants and needs In today’s delicate world of mortgages in New Jersey and any where else, getting a mortgage not only takes understanding, but patience. I am still finding many loan officers trying to fit that round peg into that square hole. Let me explain…. I currently have a client whose realtor got him to talk to her loan officer. This loan officer has my borrower pre-qualifed for about $35,000 more than I do. How can there be such a difference? Before I get into the differences, let’s try and … (27 comments)
Juggling is an art, wouldn't you agree? Well, so is pre-qualifying a borrower for a mortgage. In my opinion, it takes more than just basic knowledge and simple math skills. In the last few days, there has been a growing debate out there that even the experienced realtors can pre-qualify a borrower. It doesn't matter if you : -- know your borrowers credit scores -- know that they are putting 20% down -- know that they make x,y,z a year and the simple math says they … (13 comments)
How do you handle your client when they come to you with a lender already? Do you ignore the fact? Do you try to ask them questions? Do you know what to ask? Do you call the lender? How do you know if they will be upfront with you. I know many of you have your own favorite loan officer(s) to go to. Should you have a loan officer outside of this so-called circle? Another trusted opinion? There are many of you as realtors that know some of the basics. Lenn Harley has a knack what to look for. She knows … (29 comments)
I just want to educate people about mortgages and the process.
In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.
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