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Real Estate Tips
Financing Your Home >Qualifying Guidelines

It may be difficult to qualify for a home mortgage loan. As a buyer, you may find the perfect home, but finding the perfect financing might become elusive. After you complete the application process, your lender may turn you down, which is an upsetting development for any prospective homebuyer. What can be done to remedy such a setback?

The answer depends on why you were turned down. If your income is too low to satisfy one mortgage company, there might be another company with more liberal qualifying guidelines. If you have had credit problems, some lenders may be more willing than others to help you clear them up in a manner that satisfies their underwriters. If your loan runs into problems, sit down with the loan officer and your real estate agent to investigate the possibility of using a different lender. The first company may be able to "assign" the package to a competitor, enabling you to use your same credit report and appraisal. You will need the cooperation of your sellers, too.

While loan rejections are disappointing, they can be resolved.

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Real Estate Trivia
Q 
In what 2003 comedy does a very large family move to a new house on Forest Avenue in Evenston, Illinois?

A 
"Cheaper by the Dozen", starring Steve Martin, was actually filmed in a house in Los Angeles near the Farmer's Market.
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Talk To Tammy 5 Star Team, REALTOR®, real estate agent and broker for Jefferson County, St Louis and Festus, Missouri home listings, property and land for sale - NUMBER1EXPERT(tm)

Talk To Tammy 5 Star Team
Signature Properties

209 Main Street
Festus MO 63028
Phone: 636-931-9100
Fax: 636-931-5526
Email: tammy@talktotammy.com

The Talk To Tammy 5 Star Team Mission Statement To provide first class service with honesty, integrity, promptness, and an "It's My Pleasure" attitude to every client we serve. To have a balanced life while maintaining the marketshare and giving back to our community. "Anything Less Than Excellence is Unacceptable"


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