Just thinking about the mortgage process can be overwhelming for most home buyers. I think it’s just natural for most of society to get overwhelmed with considering anything financial. There seems to be this hidden fear of the unknown, what’s involved, how do they get to that process, how will we know if we can do it…..Working in this industry for as long as I have, I’ve learned that when you put your trust into the professionals who work with items like home mortgages on a daily basis the stress of the process is greatly reduced.

Let’s talk about the how-to guide for mortgage approval. Forbes.com stated, “If you serve up your complete, accurate and acceptable borrower profile to your lender, you will get credit approval (subject to verification) on day one.” This will lead to your virtual application where you can begin the process. Considering all the time we put into it, we envision a much more complicated process of endless steps. For the loan officer there is but for the applicant “there are only two parts to every mortgage application; the first part is the credit package, the second part is the collateral. The credit package is you, your credit, employment, income, assets, your mortgage-ability so to speak. The collateral is of course, the house you are buying (or refinancing).”

There is a method to the approval process madness, there are algorithms in place and followed strictly. These algorithms are based on all the factors that play a part in your “story”. (that story being current and past credit, pay situation, jobs, other related financial holds, etc.) They look at “you” as an serious of events leading to your current financial situation, not you as a person. If your finances, current or past, aren’t ideal for the situation it doesn’t mean game over for you. “Fear not. If your mortgage loan decisioning result on day one is not an instantaneous approval, your mortgage rep may still be able to help you navigate your way to success. It may involve cleaning up existing barriers to approval and it may take a little longer, but it can be done. And even if you can’t get mortgage approval, if your result is a decline, you should and you can know exactly where you stand with your mortgage getting chances on the very first day you apply.”

If you are considering buying a home for the first time or even buying a second home. Let’s meet and talk about your options. We are here to help you understand where you can go and how we can get you started.