Title Image

Helping Your Borrowers Get Their Financials In Order

Helping Your Borrowers Get Their Financials In Order

Helping Your Borrowers Get Their Financials In Order

If you’re looking to close more mortgage loans, you’ll need customers who qualify. Personal finance classes are not common in high schools, and many potential borrowers have poor role models when it comes to finances. This is why it’s important to help prospective home buyers get their financial houses in order.

Pay Off Debt

High debt levels can be a hindrance to getting a mortgage. Therefore, you’ll want to educate clients on the topic of debt. Credit card debt is one of the worst forms of debt that people can hold. Credit cards come with high-interest rates, and because they are revolving accounts, it’s easy to run up more and more debt. A high debt utilization percentage can limit your clients’ ability to qualify for a mortgage.

Encourage Cutting Costs

Those who want to buy a house will want to make sure that they don’t wind up house poor. This situation occurs when housing expenses make up an unsustainable percentage of a household’s income. Cutting back on expenses is a good way to make a house more affordable. This is where paying debt can help. Those without a credit card bill or a car payment will have more wiggle room when it comes to qualifying for a mortgage.

Save Up Money

While there are some governmental lending programs that offer subsidized loans that require low down payments, it’s a good idea for your borrowers to save up a nice down payment. A down payment of 20% provides immediate equity in a property. This equity will provide a hedge against a quick market downturn which could prove very useful. Cutting costs and paying off debt can provide more margin for saving up a nice down payment.

Those who have their financial houses in order will be more likely to qualify for a mortgage. Additionally, these people will be less likely to default. Therefore, educating your borrowers can pay off for all parties.

Have questions?  Speak to an expert for more information.

Coming Soon!

The New Private Eyes Platform.

Background Checks | LegacyLender Solutions | Login

For any questions contact us at (925) 927-3333.

Site Security Notification

 

Use the buttons below to continue your login.

For SITE SECURITY purposes and to ensure that this service remains available to all users, this computer system employs software programs to monitor network traffic to identify unauthorized attempts to upload or change information, or otherwise cause damage. Unauthorized attempts to upload information or change information on this service are strictly prohibited and may be punishable under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act.

NOTICE: We will not obtain personally-identifying information about you when you visit our site unless you choose to provide such information to us.

Point of Contact for Security and Monitoring: Frank Santa Elena email: security@pebackgroundchecks.com Information Systems Security Officer (ISSO) for www.privateeyesbackgroundchecks.com phone (925) 927-3333.

For any questions contact us at (925) 927-3333.

Find the Right Lender Solution

Fill out the information below and we will contact you or call us at 925-927-3333



First Name*
Last Name*
Email*
Phone*
Company*
Street
City
State
Zip Code
Number of Employees
Where did you hear about Private Eyes?

Find the Right Background Screening Solution

Fill out the information below and we will contact you or call us at 925-927-3333.



First Name*
Last Name*
Email*
Phone*
Company*
Street
City
State
Zip Code
Number of Employees
Where did you hear about Private Eyes?

Candidate Assistance

If Private Eyes is running your background check, please contact our Customer Service department. A person on our team will be more than happy to assist you

Email: CSS@pebackgroundchecks.com
Call: (925) 927-3333

Private Eyes Customer Assistance

If you are a current customer, please contact our Customer Service department. A person on our team will be more than happy to assist you.

Email: CSS@pebackgroundchecks.com
Call: (925) 927-3333