If your client is having trouble getting a mortgage approved, you are likely wondering what you can do to solve the problem and help them get the loan they seek. You don't earn your commission if your client is not approved. The good news is
Applying for a loan is undoubtedly a stressful process. With so many details and steps to account for, making mistakes seems almost inevitable. Fortunately, with your guidance, expertise, and the following advice, you can provide peace of mind while improving the chances of your client’s
Homeowners across the United States have suffered severe income loss due to the COVID-19 pandemic. As the unemployment rate has risen in many states throughout the country, homeowners are becoming delinquent on their mortgages. As the percentage of homeowners with past due mortgage loans rises,
Eligibility For VA IRRRLs If your clients have a VA loan and are interested in lowering their interest rate, you should consider offering them the option of applying for the Interest Rate Reduction Refinance Loan. Abbreviated as IRRRL, this refinancing option allows veterans and military families
Due to the high costs of new construction, construction loans stand at the heart of the entire construction industry. Without builders having readily available access to financial resources, housing and commercial building projects would never see the light of day.As a lender, it's essential that
Rarely have interest rates on home mortgages been lower. The average interest rate for a 30-year loan has been around 3%, and the rate for a 15-year loan has approached 2.5%. Because of the drop-in interest rates, the price of houses has actually gone up
Of the many small businesses that apply for loans every year, only half are approved. According to lending experts, there are four primary reasons why small business loans get rejected.Credit ProblemsBad credit or no credit is a red flag for lenders. Would you loan money
Missing tax returns usually means trouble, and it’s a safe bet that they weren't all lost in the mail.Even experienced loan underwriters can overlook the significance of a missing tax return. By itself, a public records check showing that a business has no tax liens
Fraud is an ongoing threat to loan underwriters. Professional criminals can make an art form out of defrauding lenders. However, most experienced underwriters have a well-honed ability to detect red flags. Seasoned and astute attention to detail on the part of an underwriter can stop
When it’s time to consider the financial situation of a business or individual for a loan or mortgage, lenders agree that verifying tax transcripts directly from the IRS is one of the most important steps to take when evaluating the borrower’s ability to repay the