I normally get 3-5 inquiries off my website every week. The information requested is very basic - name, phone number, email address, estimated mortgage amount needed, rate your credit and comments.
It always amazes me how many folks view their credit. Allen filled out the form, indicated that he was denied for a mortgage a year ago because of poor credit.
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I called Allen, he really wants to own a home, but wasn’t sure that his credit had improved in the last year. I told him I wanted to run my own report and he gave permission. Just crazy, his mid credit score was a 675, which meant, as long as his income was sufficient, work history made sense, had a down payment, I could get him a mortgage.
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I asked all the necessary questions, the bottom line, I was ready to pre-qualify him for a mortgage. I thought he was going to cry, he was hitting the ground every ten steps.
I have no idea how many prospective home buyers there are out there that have had a bad experience and have given up, have sufficient credit and income, but are afraid to ask for fear of being disappointed or denied.
There are many knowledgeable loan officers, that are ready, willing and able to assist anyone that wants to own a home, but isn’t sure they will qualify for a mortgage. Many more real estate sales can be made, if we ask the right questions.
