Agent Jirius: Kenmore, Washington - Homes For Sale - Loans - Pre - Approval

Kenmore, Washington - Homes For Sale - Loans - Pre - Approval

Kenmore, Washington - Homes For Sale - Loans - Pre - Approval .The banks definitely want paper trails and evidence of everything.  In fact, even cash buyers have to show proof of funds before an offer is accepted. And the need for paperwork is going to increase more and more as time goes on.  I try as much as possible to get all the paperwork that I need upfront, and even then the bank usually asks for something else.  It is so important to get pre-approved before you shop for Kenmore, Washington - Homes For Sale - Loans - Pre - Approval

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Why do you need so much of my personal information?  I have an 800 credit score and 20% down?  I could buy this place for cash if I wanted to liquidate my 401k or stocks?  Last time I bought a home they just wanted my pay stub, why do you want my tax returns?  Are you out of your mind?

YES-  Lender's are out of their minds, dealing with fraud and new government regulations.

Get used to it.  More papers to sign, more info required from the buyer. 

I have many perfect buyers with excellent credit, jobs, 20% down payment.... you name it, they have it.

BUT- Lender's are still going to put your client through the heavy wash cycle on high heat before approving a loan.

Your best bet is to work with an experienced Loan Officer.  I also used to be an underwriter, so that helps :)

I explain to my clients, that we are not poking at their personal finances, we are simply verifying information.  I am not looking at your bank statements to see where you went to dinner last weekend, we don't care.  We are looking at the bank statements to ensure that you are the same Miss. Smith that I have a credit report on.  We are making sure someone else is not paying you to buy the home for them.

More regulations will come out Jan 1st, 2010, I will adapt to them and continue to be the best in my field.

If buyers know up front what is expected, they are happy to provide it.  I'm happy to answer their questions as to "why this or that", it's my job.

I may not be perfect, but I always plan ahead and my clients appreciate it.

 

Melissa Kulikoff
Texas Loan Officer

Residential Lending Services
cell: 210-849-9030
email: melissa@mkulikoff.com
For Home Loan Information

 

 

Isaac Real Estate Team

Champions Real Estate Services

TriStar Finance  #MLO-107799

Office: 425-483-6849 Cell: 206-841-9976

My Blog Site      Local Homes For Sale

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Winner of Seattle Magazines 5 Star

Real Estate Agent Best in Client Satisfaction Award

 

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Comment balloon 4 commentsJirius Isaac • October 12 2009 02:31PM

Comments

Jirius,

I have had to really over exagerate all the changes in order to set the tone for what will be needed these days.  Some buyers still think that it is too much, but they are also the first to complain about what is going on.  maybe these measures being taken will help their value in the future.

Posted by Kyle Jan, Phoenix AZ Homes for Sale almost 9 years ago

Thanks for reblogging this post since I might have missed it otherwise.

Posted by Irene Tron almost 9 years ago

Jirius,

This was a good choice for a reblog.. I did not see the original.  Thanks for reposting and for stopping by my post this morning. 

Judi

Posted by 1 ~Judi & Don Barrett & Chassy Eastep - Integrity, BS Ed, Integrity Real Estate Services -IDABEL OK (Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745) almost 9 years ago

Kyle, I hope something helps our values in the future.  As you know, the lenders are getting tougher by the day.

Irene, Glad I helped you out.

Judi, Thank you.  You had a great blog.

Posted by Jirius Isaac, Real Estate & loans in Kenmore, WA (Isaac Real Estate &TriStar Mortgage) almost 9 years ago

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