Credit Issues related to the purchase and refinancing of Real Estate can generally be solved by pursuing what is known as Alternative Mortgages. 65% of the "All Mortgages" originated and closed in the United States qualify as alternative or "Non" Fannie-Mae type loans. Quite often, those who were turned down, were unable to get a mortgage because of "incompetence" or ignorance of available mortgage products. If you have been turned down previously, make mention of it in your application. Our lenders have years of experience with all credit grades AND OFFER GREAT RATES for your situation.......

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SELF EMPLOYED?
Self employed borrowers often are frowned upon by lenders. Lenders who have little experience "Underwriting" and "Processing" Self Employed borrowers are more likely to turn down a file that isn't "STRUCTURED" correctly. Many times a borrower with Perfect Credit will be refused a loan because the Loan Officer wasn't experienced enough to Structure the correct loan for the borrower's needs. If this has happened to you, you luck may have changed. Find out more and indicate on the Income portion of your application your income documentation protocol. To find out what you qualify for.... APPLY NOW!

SCORES
Your credit score is a "weighted average" of the following factors.

Even if you have credit issues, there is a Mortgage Loan to Meet your needs. Lenders who specialize in alternative mortgages will be glad to provide you with a good faith estimate and COMPETITIVE mortgage rate for your needs. APPLY NOW!

As you are shopping for a loan, make sure you are working with an experienced, professional loan officer.  The large financial investment you are making is far too important to place in the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way.  But how can you tell?

First, make sure the loan officer will guarantee IN WRITING their closing costs, interest rate and points charged.  Unfortunately, there are too many unscrupulous people in the mortgage business.  If they wont put it in writing, they don't know what they are doing or they are trying to bait and switch.

In addition here are FOUR SIMPLE QUESTIONS THE LOAN OFFICER ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY.  IF THEY DO NOT KNOW THE ANSWERS RUN  DON'T WALK RUN TO SOMEONE WHO DOES!


1)  What are mortgage interest rates based on?  (The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions.  DO NOT work with someone who has their eyes on the wrong indicators.)

2)  What is the next Economic Report or event that could cause interest rate movement?  (A professional lender will have this at their fingertips.  For an up-to-date calendar of weekly economic reports and events that may cause rates to fluctuate sign up for my newsletter above)

3)  When Greenspan and the Fed change rates, what does this mean and what impact does this have on mortgage interest rates?  (The answer may surprise you.  When the Fed makes a move, they are changing a rate called the Fed Funds Rate.  This is a very short-term rate that impacts credit cards, credit lines, auto loans and the like.  Mortgage rates most often will actually move in the opposite direction as the Fed change, due to the dynamics within the financial markets.  For more information and explanation, just give us a call)

4)  What is happening in the market today and what do you see in the near future?  (If a loan officer cannot explain how Mortgage Bonds and interest rates are moving at the present time, as well as what is coming up in the near future, you are talking with someone who is still reading last weeks newspaper, and probably not a professional with whom to entrust your home mortgage financing.)

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