Are You Qualified?

Are You Qualified?

Did the loan officer really pull your credit?  Are they really looking at your full financial picture?  Be aware that Pre-Approval is different than a Pre-Qualification.  Heck even those terms can be interchanged.  Unfortunately, some mortgage loan departments do not look at your full picture.

One loan officer that I had contacted recently because my client wanted to do a Ohio Housing Finance Agency (OHFA) loan, which is a special loan that need loan officers who are on the ball.  She took a look at my client’s credit and said that she wouldn’t have been approved through her first lender that she obtained a “pre-approval” because of her credit had a tiny blemish that prevented it to be able to be approved for even a Federal Housing Administration (FHA) loan!  Now, she has to wait for her credit to improve, which unfortunately takes 3 to 6 months for the tiniest of changes to happen in the positive.  When you buy something, boy, that hits your score toot sweet.  Why?  Only the credit gods know.

Contact me.  I have recommendations that do check your credit and will help point you in the right direction if the credit needs to be tweaked!