Does My Arizona Lender Need Everything Including My DNA To Approve My Mortgage Application?

WHY DOES A PHOENIX LENDER NEED SO MUCH INFO TO APPROVE ME FOR A MORTGAGE? The running joke and most commonly heard wisecrack in the mortgage world is "do you want my DNA" or "how about I send you my first born."  If I put myself in  the shoes of a client who simply wants to buy a new home or refinance their existing mortgage I can understand why today's mortgage approval process can be perceived as overkill.  To take it a step further, clients who compare their pre 2009 (or before) mortgage … [Read more...]

5 Reasons To Get Pre-Qualified in Arizona for a Mortgage Part V – UNDERWRITER DISCRETION

PHOENIX ARIZONA MARKET MORTGAGE PRE-QUALIFICATION (FHA, VA, Conventional, Jumbo) This is part V in my series about why not to skip a single step in the Arizona mortgage pre-qualification process called “5 Reasons To Get Pre-qualification .” To see the rest of the series click HERE. REASON #5: MORTGAGE UNDERWRITERS HAVE THE LAST WORD  In today's world just about everything is automated.  We have phones that tell us what to do, cars that tell us where to go and computers that tell us how … [Read more...]

5 Reasons To Get Pre-Qualified in Arizona for a Mortgage Part IV – ASSETS THAT COUNT

MORTGAGE PRE-QUALIFICATION IN PHOENIX ARIZONA (FHA, VA, CONVENTIONAL, JUMBO) This is part IV in my series about why not to skip a single step in the Phoenix area mortgage pre-qualification process called "5 Reasons To Get Pre-Qaulified." To see the rest of the series click HERE. REASON #4: MAKING SURE THE ASSETS YOU HAVE ARE ALLOWED IS CRITICAL One of the key components to any Arizona mortgage loan approval is documenting that a Phoenix area home loan applicant has enough funds to cover … [Read more...]

5 Reasons To Get Pre-Qualified PART III – INCOME

This is the third installment in a series called “5 Reasons To Get Pre-Qualified.”  To see the rest of the series click HERE. REASON #1:  DETERMINING WHAT INCOME CAN BE USED IS A GAME CHANGER One of the most important elements when applying for a home loan is determine what income can be used to qualify.  Often times a potential home buyer  may feel as if they have know what their current gross income is.  While it is reasonable to agree that a person is aware of their own income it is a … [Read more...]

5 Reasons To Get Pre-Qualified Part II – CREDIT REPORT DISPUTES

This is part II in my series about why not to skip a single step in the mortgage pre-qualification process called "5 Reasons To Get Pre-Qualified." To see the rest of the series click HERE. REASON #2: CREDIT DISPUTES ON YOUR CREDIT REPORT CAUSE APPROVAL CHALLENGES Given all the changes in mortgage guidelines over the past few years, it is only natural that restrictions related to credit have increased. Oftentimes, a prospective home buyer does not know that certain pieces of information on … [Read more...]