Forgotten Your Password?

Need to Register?

Question Icon

Mortgage options without full application

I am looking to discuss my options without having to go through full pre-approval process of filling all the paperwork. Is there a way to tell a mortgage broker my current income/debt/credit score and find out what are my options regarding my situation ? by wong.amy170 from Oakland, California. May 4th 2017 Reply


Absolutely, market is hot but we take the time to discuss these items before taking am application everyday.

May 4th 2017
1
0

Yes - you can absolutely give a lender your scenario without completing an application. However, in most cases it is better to have a lender look at the documents and credit. The reason why is that there maybe things that we as lenders can see, that a consumer may not know to look for. Example, if you have an installmemt loan with less than 10 payments, certain loan programs will not count that against your debt ratio. This can make a difference in whether or not you can qualify if you are close to the maximum debt ratio. Also, when looking at income, there is certain income that may not be considered (bonus or overtime) if there's not a 24 month history. Lastly, you may call in asking for a specific program, but after reviewing your complete application the lender may see a different program which may better meet your needs or have a better interest rate. It's almost like calling a doctor and expecting a specific diagnosis without seeing the doctor or having any tests done.

May 4th 2017
1
0
William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,802 contributions

The short answer is yes.. but in most cases, we need to see the complete picture to advise you.. soooo many things can put a kink in a loan.. that without a professional analyzing everything, it's impossible to say you can or cannot without seeing the complete loan profile.. but if you are just looking for some general info, then yes.. that is possible.. give me a call,,,, I'd be happy to discuss your scenario.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

May 4th 2017
1
0
Larry Gray (lgray_312_247)
#560 ranked lender in California - 1,127 contributions

I certainly would still contribute to your wanting to get a good idea of what you can get with us or any other mortgage broker/banker. Actually, regulations changedto show loan officers could not request your personal document or run creditjust to pre-qualify you. The difference is that we have to go much on trust you are giving us the correct and complete information we need to pre-qualify you. Thus, our pre-qualification can give you a good idea what you may qualify for and we can provide you with rate and total costs estimates for loan programs, accordingly. Ultimately, we can assure no one a mortgage loan until we obtain the necessary personal documentation. You may reach me via my profile.

May 9th 2017
0
0
Subscribe to our news feed.