Reasons for Mortgage Pre-Approval | Underwriting

This is part 5 in my series about why not to skip a single step in the Arizona mortgage pre-approval process called "Reasons for Mortgage Pre-Approval."  See the rest of the series. Reason #5: Underwriters Have Final Say  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 are families are doing!  It's no surprise that automation is a big part of getting pre-qualification for a home loan. … [Read more...]

Reasons for Mortgage Pre-Approval | Assets

This is part 4 in my series about why not to skip a single step in the Arizona mortgage pre-approval process called "Reasons for Mortgage Pre-Approval."  See the rest of the series. Reason #4: Make Sure Your Assets are Eligible  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 the amount of money they must come to closing with (down payment + closing costs paid by borrower/home buyer).  If an … [Read more...]

Reasons for Mortgage Pre-Approval | Income

This is part 5 in my series about why not to skip a single step in the Arizona mortgage pre-approval process called "Reasons for Mortgage Pre-Approval."  See the rest of the series. Reason #1:  Determining What Income Can be Used  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 … [Read more...]

Reasons for Mortgage Pre-Approval | Disputed Tradelines

This is part 5 in my series about why not to skip a single step in the Arizona mortgage pre-approval process called "Reasons for Mortgage Pre-Approval."  See the rest of the series. Reason #2: Credit Tradeline Disputes  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 their credit that seem insignificant can … [Read more...]

Reasons for Mortgage Pre-Approval | Tax Returns

This is part 5 in my series about why not to skip a single step in the Arizona mortgage pre-approval process called "Reasons for Mortgage Pre-Approval."  See the rest of the series. Reason #1: Tax Returns Contain Unforeseen Hurdles  One critical step The HOUSE Team takes on all applications/pre-qualifications is to request a borrowers most recent 2 years Federal tax returns and/or order the most recent two years Federal tax return validations directly from the IRS for every new loan applicant. … [Read more...]