Qualified? Home Lenders Say Not So Fast

This is the perfect example of how a mortgage is not an interest rate and it is so important to use a Mortgage Professional that is an expert.  I highly recommend reading the whole article because it is an example of how someone with perfect credit, no debt, struggled through the process and didn’t close on time.

I would be lying to you if I said that there isn’t a lot of documentation required because there is but an expert will know most of what is needed upfront.  Sometimes the borrower can be their own worst nightmare.  Your Mortgage Professional should guide you on what you should and should not do, the steps in the process, etc.  They need to do their due diligence and research upfront because things change evreryday. 

When Ginny Shipe decided to buy a new home earlier this year, she was calmly confident her experience as an industry insider, her stellar credit rating and debt-free status would make it a snap. She could not have been more wrong…….Shipe never gave a moment’s thought to the possibility that she would struggle to secure a mortgage. After all, she has a credit score above 800, far higher than most Americans……:

http://www.msnbc.msn.com/id/39648608/ns/business-real_estate/