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Asked by bbaldevarona, Keller, TX Thu Apr 4, 2013

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10
, ,
Fri Apr 5, 2013
Sounds like Rick is your man according to him.
Let that realtor take a full loan application and pull credit and tell you what you need to do to qualify for a mortgage. I am sure he has all of the latest loan guidelines and lender guideline overlays from the different banks at his disposal.
He must know more about all of this than lenders do or he wouldn't keep suggesting people to not contact a lender who does this kind of thing every day all day long.
He also must have a lot of time on his hands.

Good luck!

http://dallasloanguy.com/free-credit-book/
1 vote
Your right Tom.....rare is it the realtor I find who is a great financial counselor and loan expert. Sure most of us know the very basics, but in no way do I want to keep up daily with all the details and changes of different loan programs, the advantages, disadvantages, and intricacies.
Flag Fri Apr 5, 2013
Lisa Pursell…, Agent, Fort Worth, TX
Thu Apr 4, 2013
I am sorry you lost your job but getting in touch with a mortgage lender is what needs to be done to see if you qualify. SWBC will speak with you and there is no obligation or fee's to speak with them. They are local which makes it much easier to get things done. Please let me know if I can help your family in the future.

Leslie Isbell
SWBC Mortgage
2813 South Hulen St., Suite 225
Fort Worth, Texas 76109
Office 817.924.8505
1 vote
Britta Hinze, Agent, Fort Worth, TX
Thu Apr 4, 2013
You will need to contact a mortgage lender to inquire about qualifying for a new loan. If you need a referral for a great local lender try SWBC Mortgage in Fort Worth. There are no fees or obligations if you call up SWBC to ask questions.

Leslie Isbell
SWBC Mortgage
2813 South Hulen St., Suite 225
Fort Worth, Texas 76109
Office 817.924.8505
1 vote
Bruce Lynn, Agent, Coppell, TX
Fri Apr 5, 2013
Bryan...

The best thing we can do is to get you with a great loan officer and see what they can do for you. They need to look at the whole picture....if you are still late or caught up, what both your credit scores are, if you have income now, what your other debts are, what your FICO scores are, etc.

To be honest it sounds like a bit of a stretch....you may want to take time to build more reserves so that if you have to change jobs again you can still make payments on time. Also you have to think a bigger house may mean more expenses....maybe more utility bills, more furniture, more entertainment, etc. So if it is a stretch now to keep up and keep everything on time, adding to it may even complicate things.

However with that said a good loan officer can perhaps more accurately advise you. It could be if your interest rate is higher than today, that your payments could go down and that could help.
0 votes
Rick DeVoss, Agent, Ft Worth, TX
Fri Apr 5, 2013
Good Morning, Tom! Hey, thanks for the vote of confidence! All of the experienced Loan Officers that I regularly work with really appreciate the "pre-screening" that I do for my clients. Yes, I really DO have the time when it comes to giving my clients the best service. Any real estate agent in town can give them a phone number to call to speak with a knowlegable loan officer such as yourself. But very few have the skills or take the time to show them how to raise their credit scores to a level so they won't be rejected by your process. Many of the people I get to speak with have a marginal FICO score, and we both know they don't need another inquiry on their record. And many of them as well don't have all the cash that an Underwriter will require for the down payment and reserves. There are some creative ways to package that sort of borrower, and if YOU did it, it would be called mortgage fraud. So we both know you can't offer that kind of advice.

I even had one couple who came to me with all the above problems, AND lack of income required to qualify for an appropriate loan amount. The wife figured out the lending guidelines immediately, (with a little coaching), and got a temporary job just to get the loan approved. She used one of my tricks to produce a bank statement showing enough cash in reserve, and got the loan to buy the house that she wanted for her family!! ..And after they moved in, she was promoted to manager on her job, and kept it, too!

Some couples are ready to call a loan officer and get pre-qualified for the underwriting process. But many are not, and they appreciate the assistance of a knowledgable Realtor. I get some good referrals that way! Do you ever reject any applicants, or do you approve them all? What percentage of the people who first apply to you get turned down? Maybe your office is different than all the other FNMA-guideline lenders out there. But, hey, send me your contact info, and maybe I can send some borrowers your way. I'm sure you wouldn't mind having them pre-screened, would you?

Have a nice weekend!

Rick DeVoss

ULTRA Real Estate Services

817-300-6121

RickDeVoss@Realtor.com
====================
0 votes
Rick DeVoss, Agent, Ft Worth, TX
Thu Apr 4, 2013
To the Keller family:

It sounds like your question on here indicates that you are looking for someone to sit down with you and give you some good, solid personal advice. You don't really need to be told to "call a loan officer." Perhaps that is obvious to some people. But what many families like yours need is to have an experienced Agent give them some good advice BEFORE they lay all their cards on the table with a lender. There are many things you can do to prepare yourself for a loan application. In addition to raising a FICO score if it's too low, you must prepare your cash resources, and make sure your income to debt rato is going to be acceptable.

You mentioned that you had had some late payments in the past. The dates of these issues are critical, but your credit score doesn't sound so bad. Your income is adequate for the price range of a house that you are seeking, but the length of time on your current job, and the nature of your duties are what is important.

There are some very nice homes for sale in Keller in your price range, and I would love to show them to you. But before we spend too much time on the fun of previewing new homes, we need to analyze the potential sale value of your house and get it into an agressive marketing program. I think it is obvious that you cannot buy another house until you sell the one you have. So the timing of it all is going to be critical, and I can show you how to best manage that. I've had 33 years experience selling houses in Keller and the surrounding communities, and I can certainly help you relocate to the right neighborhood.

Give me a call, or drop me an email, and we'll set up an appointment to summarize your situation before you get deeply involved with a loan officer at a mortage company. And then we'll have some fun looking at new homes!

Best regards,

Rick DeVoss

ULTRA Real Estate Services

817-300-6121

RickDeVoss@Realtor.com
====================
0 votes
I believe in having the professionals, ie mortgage brokers and lenders counsel the client on what they will need to successfully purchase their home. We as realtors should tend to finding the perfect home that the client can qualify to purchase when they are approved and ready to go. Most of us do not claim nor are we qualified to assist with credit repair or mortgage approval and believe in leaving that to the professionals in the prospective fields. Save yourself some time and energy and contact the lender of your choice and let them guide you on what you need to do.
Flag Fri Apr 5, 2013
Stacia Burnh…, Agent, Aledo, TX
Thu Apr 4, 2013
Congrats on your rebound from a depressing situation! Kudos to you. Have you contacted a lender for pre-approval on a new loan? That is the first step to take, I have an excellent one if you would like the info. Please email me at stacia@alexanderchandler.com and I will get it to.
0 votes
Dallas Texas, Agent, Dallas, TN
Thu Apr 4, 2013
Are you now currently employed? Majority of lenders won't approve loan till your "back on your feet " with solid employment for 2 + years. However best speak direct with a lender

Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com 100's of Dallas homes listed for sale or lease

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes
Enyinna Ezei…, Agent, Fort Worth, TX
Thu Apr 4, 2013
I'll like to discuss with you regarding your current home, once payments become late it's best to act sooner than later. With regards to qualifying for a loan, it is a good idea to speak with a mortgage person so they can look at the whole picture regarding both of your financing options and advise. Please feel free to call me using the information below.

God bless,
Enyinna Ezeife-Oshakuade
Associate Broker
Keller Williams Realty
817-808-7831mobile
817-886-0679direct
866-421-1042fax
http://enyinna.yourkwagent.com
Licensed R.E. Broker in MA & TX
*Making dreams come true.
0 votes
, ,
Thu Apr 4, 2013
It is going to depend on how the mortgage reports.

You need to apply with a lender.
There may be options for you.

Tom Burris
Mortgage Banker
http://www.servicefirstmckinney.com/
(214) 763-4629 cell/text/nights/weekends(Really!!)
tburris@servicefirstmtg.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes
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