So what’s really out there these days for home financing? Between the news, friends, family, talks in shopping lines, etc., does anyone know if they even want to consider buying or refinancing a home for a lower payment? It can be a challenge. Many changes have occurred in the industry with more to come.
Even with the best case scenario: high credit score; assets; low debt; good job; the process may not be as easy as you remember. Indeed, the process takes longer and sometimes requires more documentation. When you think about it, someone who doesn’t know you is going to give you their money or someone else’s money that was entrusted to them.
Don’t take “no” for an answer. Find out why they think “no” is the answer. Work around the issues. If the debt-to-income ratio is too high, ask about lowering it. There are ways to do this that don’t require cash. Ask, “What can I do to change the outcome?”
Your credit score can be re-scored for the better through the credit agency used by your mortgage professional. In the end, be sure you entrust your loan to someone willing to do everything possible to make the experience a happy one!
When you’re ready to speak to a lender about getting pre-qualified for your new home, contact one of my professional mortgage brokers. And if you have any questions about selling or buying a home in metro Albuquerque, be sure to contact me today!
You may be able to afford more home than you wish to spend. Start out with an idea of how much of your income will be left after the mortgage payment and utilities. This is the amount you will have for everything else you want and need your income to cover: food, clothing, car payments, insurance, social activities, etc. 
Even if you have a handyman on speed dial, having a basic set of tools in your home is always a good idea.
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