Find A Lender That Will Take the Time to Know You – A Mortgage Is Personal

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Equity Prime - Michael NelsonLenders don’t always require two years of tax returns to approved self-employed mortgage applicants. Know these strategies, and get an approval.

Source: How To Get A Mortgage If You’re Newly Self-Employed | Mortgage Rates, Mortgage News and Strategy : The Mortgage Reports 

I have said it so many times in this blog.  A mortgage is personal.  The right mortgage should reflect your goals – both long and short term.  A mortgage is certainly not 15 minutes on the web with a completed application and a rate ready to lock.

The Quick & Easy I Hear About Sounds Really Expensive

Equity Prime - Mike NelsonIn the past weeks, I have heard stores from borrowers telling me the joys of a quick and easy on-line loan application.  I agree, it was quick and it was easy.  The problem is the quick and easy I hear sounds really expensive and does not reflect the goals of the borrower.

Which brings me to the article above.  Give it a read – it is good.  Towards the end of the article, the author discusses the difference between DO (Desktop Originator) and LP (Loan Prospector).  DO and LP are desktop underwriting systems that loan officers use to qualify buyers.  One of the subtle differences between these systems is the need for tax returns.  In many cases, LP will yield an eligible finding with only one year of tax returns – DO requires two.  The subtle difference in two underwriting programs can be the difference between credit approval and denial.

Equity Prime - Michael NelsonSubtle Differences In A Mortgage Can Be The Difference Between Approval & Denial

The point is this, you must have a relationship with a loan officer who knows the subtle details.  The subtle details of borrower qualification relative to the borrower’s circumstances can be the difference between getting the loan approved or being denied.

I spend a lot of time working with real estate agents.  I want to build profitable relationships with the agents to help them grow their business.  Key to these relationships is my ability to know a borrower and find a way to secure funding within the limits of regulation and law.  This requires both product knowledge and understanding of borrower needs.

michael nelson equity primeIf you are looking for someone willing to find a loan that matches your subtle details, I would appreciate the opportunity to earn your business.

As always, Happy House Hunting!

Mike
mnelson@equityprime.com
720.213.6260 (voice & text)
@michaelfnelson2
NMLS: 1314188
Licensed in:

Michael Nelson - Equity Prime
California
Michael Nelson - Equity Prime, LLC
Colorado
Michael Nelson - Equity Prime, LLC
Florida

 

 

 

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Michael Nelson - Equity Prime

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