Ever have a home buyer who was pre-qualified for their FL mortgage loan, then learn only days prior to closing they were denied?  When home buyers are shopping around for a low mortgage rate and request to be pre-qualified for their FL mortgage loan, many forget one of the most important steps is working with an experienced FL mortgage professional.  An experienced FL mortgage professional knows to review all income and asset supporting documents as early in the mortgage loan process as possible to ensure their home buyer is well qualified.   

Yesterday our client, approved for a FL VA home loan, learned that his current home under contract had to be cancelled.  The buyer of his home was pre-qualified over a month ago, and now 3 days prior to closing, was denied because their qualifying debt ratio was too high.  That’s right, only 3 days from a scheduled closing!  This is something the loan officer should have known earlier in the process, yet has now stopped 2 home buyers from closing on their dream homes here in Florida.  Next time, they need to speak with an upfront FL mortgage professional that has experience.  Finding out the FL mortgage truth upfront is always better.

I have always said there are 2 types of mortgage loan officers.  Ones that depend solely on the final underwriting review to determine if their client was ever qualified… they are order takers.  While true FL mortgage professionals work upfront and pre-underwrite clients, understanding specific mortgage product knowledge, income analysis, and overall soundness of their clients’ specific qualifications.  This makes all the difference in the world to home buyers, FL Builders, and FL Realtors. 

If you need an upfront review of your home buyer, please make sure to contact our office, email me directly at sthaggard@embracehomeloans.com or call 800.333.3004 ext 3560 and ask for Stephen Thaggard

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida

Embrace Home Loans, NMLS 2184, www.nmlsconsumeraccess.org,  485 N 5500 Murrell Road Suite 201, Viera, FL 32940