Washington State Mortgages, Made Clear. Buying or Refinancing? Let's find the right loan together.
Most loan officers do the same thing the moment you reach out: they ask for your income, pull your credit, and hand you a rate quote. Sometimes they skip even that and just send you an application link.
I do something different first — and after 25 years in the mortgage business, I believe it makes all the difference. [Read more…]
I’ve often thought that the loan process for a borrower is similar to peeling an onion. At the very beginning stages, when a borrower is considering obtaining a mortgage and they discuss their scenario with their mortgage originator, they appear to be a smooth, shiny Walla Walla Sweet. As the process continues, more layers are removed as documentation is provided. Sometimes when several layers have been peeled away, you no longer have an onion or at least, not the one you originally started with. It’s crucial that a mortgage originator takes an in-depth interview with their clients before they enter into a transaction (purchase or refinance) to make sure as much their financial information has been addresses as possible. There may be a significant difference between how a borrower views their financial scenario and what their supporting income and asset documents tell to an underwriter. [Read more…]
