Getting a home loan doesn’t have to be scary nor does it have to be hard.
Let me start by saying NOT all lenders are the same. Let me say that again, not all lenders are the same. Financing can be a game of smoke and mirrors. Having the right loan officer and lender for your situation can be the difference between you getting a loan or not.
Let me try and break this down a bit more. Different lenders have different requirements for different loan programs. This is why it’s important to talk to your agent about your situation and what lenders they work with to get your loan approved.
Many banks and lenders try to see if you fit into their "box". Lenders have overlays they can place on loan requirements. This is why you can be turned down by one lender and approved by another. Since these overlays can be different from lender to lender you need to make sure you're talking to the correct lender for you. Another thing you need to be aware of is how the loan officer operates. Many are good but many don't communicate enough nor do they answer questions buyers have so they understand what's happening. Many times I'll recommend a client of mine speak to a lender I work with based on personality. I try and think about who my client with get along with and will that loan officer be able to meet their needs.
As an agent, I have several lenders I work with and communicate regularly about current loan programs. Whomever you hire to represent you take the time to tell them about your situation and what you need from a loan officer.