Changing Mortgage Perceptions

Everyone asks, when is it going to be easier to get financing?  Why do we have to jump through so many hoops to get a loan done?  Keep asking those questions and you may never like the answers.  Start asking questions like: How CAN we get financing on this new home purchase?  What ARE the options for my particular situation?  We have to continue to frame things properly.  The market isn’t bad – it’s actually much improved.  Financing isn’t difficult – it’s just work.  The place from which we question the system and view the world greatly impacts our reality.  The saying is that if we change our perception we can change the reality.  Our perception must be an understanding of all that it takes to work in this industry and then embrace that…don’t leave yourself at the mercy of your bad perceptions.

 

For example, our company alone has more loan products and programs to help people in all various stages of financing than even you can imagine.  Let’s see:

 

·         Clean Slate Program (for borrowers with short sale or foreclosure under 2 years)

·         Jumbo Loan Portfolio Option (quick closes for those quick deals)

·         Home in 5 FHA Grant Program (First time home buyer who needs a grant for down payment)

·         Canadian Financing (Looking for a 2^nd home – no problem)

·         95% LTV to $625,500 Loan Amount (Move up Buyer with a growing family)

·         90% LTV to $729,000 Loan Amount (Move up Buyer wants to keep some cash available)

·         80% LTV up to $2MM Loan Amount (Saavy individual who understands the time value of money and wants to leverage with current rates)

·         Brokered Options for your Underwater clients (Fannie and Freddie HARP deals) – Still stuck – we can help with that too!

·         Standard 30/15 YR Fixed Loans – (For the everyman/woman)

·         FHA between 580-620 (For those who hit a rough patch due to unusual circumstance)

 

And on and on the list goes.  ARM Programs, Construction Loans, Lot Loans, and more.  You see, it’s not that there isn’t financing available as some may say.  In fact there are many financing options available…it’s more about finding the right fit for the buyer than anything else.  You don’t have to go elsewhere to have the financing needs of your clients met…trust me, we run the gamut from top to bottom.  The only thing your clients need to know…is it will be work.  But hey, since when should asking for hundreds of thousands of dollars be easy.  Think about it, would you lend your $200K to the guy next door with 540 credit, who doesn’t pay his debt and can’t provide any documentation as to why that happened.  I venture to say no.  So, let’s call it like it is – work.  Are we really that afraid of a little work?