CHAPTER 6 Good Lenders Can Close Difficult Loans
We all appreciate the easy transaction. We love our perfect customers; those who have a credit score of 800, a well-paying W-2 job, a big down payment ready, and interest in a moderately- priced, well-maintained home. I can tell you from experience the banks love these borrowers as well. Not every home-buyer/borrower in the world has these things. Perfect credit is a rare commodity. Down payments have gotten smaller, not larger. Not everyone is a W-2 employee with a job that is perfectly documented, and a perfect record of on-time payments to creditors. Unfortunately, that’s the world we live in. But you also need to remember that good lenders can close difficult loans. It is a bit more effort and takes a bit more business-savvy tactics, but it can be done. It takes a proactive loan officer with comprehensive knowledge of available programs. I can help when a real estate agent has a client who may not be the most perfect candidate for a home loan. I can help get people approved who have a low down payment or an average (or poor) credit score.
POTENTIAL SPEED BUMPS IN THE L MPS IN THE LOAN PROCESS
If I work with you in the preapproval stage, your specific circumstances may dictate what kinds of homes you should be looking for and in what price range. If we start working together 79
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