CHAPTER 7 A Summary of How I Can Simplify Your Pur our Purchase
I am providing this book to tell you how important the choice of a loan officer or loan originator is, and what the earmarks of a good loan officer are. I’d like you to know you can count on me as that honest, reliable, aggressive, and informed loan officer. Here are some of the other things that I do as part of my proven process to close loans on time with minimal problems.
I TELL YOU TO AVOID COMMON MISTAKES
In my career of being a loan officer, I have seen a fair amount of mistakes made when buying a home. Let me give you an example. I heard about a buyer who found a beautiful house; he referred to it as his “dream home.” He made an offer, had the home appraised, and started the process of looking into a mortgage for the house. When the lender met with the buyer, she told him: “You are qualified for this loan.” She knew he was qualified and gave him a pre-approval letter to show her confidence. However, during the underwriting process leading to the closing process, the home buyer leased a new car. That new debt had a negative effect on his debt-to-income ratio, and his credit score was affected, as well. Him leasing this new car made it much more challenging to get the loan approved. 85
Powered by FlippingBook