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All agents are NOT alike! I have 15 yrs experience helping 500+ clients. Call me: 208-661-0191 or toll free 866-490-7871.
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Free Buyer Representation
Just like a home seller hires a listing agent, today's smart home buyer hires a Buyer's agent to help them from start to finish.
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We Are So Happy With Their Service!
Sher found us a brand new home exactly like we wanted the very first day!
Sheila and Ray R., business owners
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 Compare three mortgages
at one time. Download TripleCalc now. It's free. |
Sherry Zellars is one of The Top
Selling Real Estate Experts™
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Financing Your Home >Qualifying Guidelines
It may be difficult to qualify for a home mortgage loan. As a buyer, you may find the perfect home, but finding the perfect financing might become elusive. After you complete the application process, your lender may turn you down, which is an upsetting development for any prospective homebuyer. What can be done to remedy such a setback?
The answer depends on why you were turned down. If your income is too low to satisfy one mortgage company, there might be another company with more liberal qualifying guidelines. If you have had credit problems, some lenders may be more willing than others to help you clear them up in a manner that satisfies their underwriters. If your loan runs into problems, sit down with the loan officer and your real estate agent to investigate the possibility of using a different lender. The first company may be able to "assign" the package to a competitor, enabling you to use your same credit report and appraisal. You will need the cooperation of your sellers, too.
While loan rejections are disappointing, they can be resolved.
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| Q |
Who is "Freddie Mac", and why is he a big name in real estate?
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| A |
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans. |
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Hair-J Miller Salon - Aubrey Brown, Stylist
Aubrey 208-765-2023, 9 yrs experience and she does everyone's hair in my Business Network International Group(BNI), including the men.
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