Andrew W. Conner, CMPS ®, CRMS ® 
  

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Mortgage Lending Today 

 

Mortgage lending is very different today than it was just a few short years ago. Qualifying for a mortgage is more difficult than in the past. Understanding your options is important to obtaining the best mortgage solution for your individual financial needs. There is a lot more to financing a mortgage than just filling out a standard generic application, asking what your interest rate is and being on your way. This may have been the attitude a few years ago and it eventually became a contributing factor to the economic collapse of 2008. Lending has changed; with updated guidelines, higher credit score requirements, as well as tolerances for debt based on income, employment and other economic concerns. Lending is constantly changing and your credit score has become the most important factor in determining what loan program and interest rate your personal financial situation may qualify for when it comes to getting a mortgage.

 

Everyone’s financial situation is different.   A loan strategy that works for one individual could make another person go into foreclosure.   Ignoring the strategy portion of the loan process can make the difference of whether you save just a few thousand dollars or tens of thousands of dollars over your lifetime.     

 

Something often overlooked is the need to understand, repair, and manage your credit before, during, and after the loan process.  If you don’t know what actions you need to take or you are misinformed, you could be forced to take a higher interest rate or worst case scenario not qualify for the mortgage.    

 

When shopping for a mortgage you need to focus on lender qualifications, education, and experience.  Financing options are also important.  Not all lenders offer all loan programs.  Being able to qualify based on a variety of options will give you flexibility in choosing the right loan strategy for your individual financial needs.  Having the right mortgage strategy can mean the difference of you building personal wealth for tomorrow or finding yourself struggling financially when it’s time to retire.   

 

Phone:  573-302-0600

andrew@askandrewconner.com

Andrew W. Conner NMLS # 245474

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