For Buyers

The Easy Way to Finance a Home

Everyone has heard horror stories about home buyers having a difficult experience with a loan application. Ask any Realtor® and they will tell you about clients that thought they were approved for a loan only to discover late in the process they were not. This happens EVERY DAY!!!

What a nightmare for everyone involved, not to mention the expense. People sell their existing home or give notice to their landlord because they believe everything is under control.  How does this happen and more importantly, why does this happen?

There are four main issues that cause the train wrecks:

  • The information in the application does not match the support documents provided by the borrower.
  • The borrower does not furnish all the requested support documents.
  • The loan officer does not fully review all the support documents provided by the borrower.
  • Circumstances change during the processing period, some examples: loss of jobs, interest rates increase, decrease in funds for down payment, etc.

Almost every home buyer wants to pre-qualify for the loan before gathering documents, the exact opposite of the safe and easy way to arrange financing. Besides, not doing it correctly from the beginning makes the pre-qualification letter worthless because the information in the loan processing system is based on inaccurate information. All pre-approval letters contain disclaimers, ours clearly states: This pre-approval is based solely upon information available at the time of pre-qualification, and is subject to change or withdrawal if any information is incorrect or has changed.

There is a natural flow and sequence to the loan application process, any variation slows down or side tracks the progress. These are painful and extremely expensive mistakes. Homeowners have sold their existing home, thinking they are approved for financing on the next home only to be turned down in the last stage.

The Best Way To Finance A Home is to go the Quick & EasyRoute and use my Transparent System to keep everyone on track.

Mortgage Financing – Start Here

Mortgage Application – The First Step Buying or refinancing a home in Kentucky?  Congratulations, you are in the right place!  This section of The Mortgage Hub will help organize the process.  Think of it as a guide to help get from where you are to where you want to be with the least amount of …

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Prequalify for Financing

For Properties Located in Kentucky Only There is no cost or obligation to prequalify for a mortgage with me.  Some lenders charge for credit reports, an application fee or some other up front charge.  I do not charge for any of these nor do I pressure anyone to do anything. My policy for helping you take the first …

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Quick & Easy

Doing it correctly from the beginning is the Quick & Easy way to finance a home.  It is also the least expensive path to home ownership and can save tens of thousands of dollars over the life of the loan. There are four distinct parts to a mortgage loan application: 1. Credit 2. Capacity 3. Cash-to-close 4. Collateral If …

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Mortgage Types and Guidelines

Types of Mortgages There are three basic types of mortgage loans. Conventional Government Portfolio Each type of loan has different sub-groups and multiple options or terms.  The goal of this material is not to make you a loan officer or underwriter, but rather help you understand the basics so your odds of successfully arranging financing …

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The Big Picture

Every buyer I have every spoken with is focused on either interest rate or closing cost, sometimes both (Sellers that become buyers when they sell their existing home do the same thing). I suspect the reason for this is all of the gurus on late night TV selling some get rich program says this is …

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Do Not Do These Things

These suggestions will help make the loan application go smoothly.  The list grows whenever I bump in to a new problem.  All of the problems below were caused by borrowers doing something that made it difficult or impossible to close their loan.  ALL of them are based on my first hand experience, not hearsay. Do …

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