Mortgage News

Today is a two post day because I am feeling a bit behind. My current excuse for my lack of posting is starting a new mortgage company. I have finally decided to take things into my own hands and launch my own business.

I have enjoyed the past several years in the business and this gives me an opportunity to have more flexibility in how I serve my customers because I can call more of the shots. In the end, the money will still come from a bank and the customers will still have to qualify, but I can control how the loans are priced, how the work flow happens, and timing - just making sure that things are in order long before they need to be. I have seen too many closings come down to the wire and it makes me stress as I try to maintain on time delivery.

I will also have the freedom to diversify by integrating several of my mortgage web sites that serve specific markets such as my www.BankruptcyLoans.info site, doing more writing such as my book on “obtaining loans after having a bankruptcy”, and then there is the possibility of teaching continuing education classes to real estate agents.

As things progress, I will be bringing on additional talent to help make these dreams a reality.

Until next time…

Anthony

www.anthonykirlew.com
www.consumersadvantagemortgage.com

Original post by AnthonyK

One of the questions I ask people as they are getting a loan is “what is the house worth?” It is a critical component as this is what is used to calculate your loan to value ratio.

Most people keep up with values in their neighborhood based on recent sales, but there is a web site that is becoming more and more popular which can give you a pretty good idea of what your home is worth. Visit www.zillow.com and enter your home address and see what it says. Keep in mind this is not an appraisal, and an appraisal usually brings a higher value, especially for a purchase.

I don’t know about you, but I can’t until Spring finally gets here.

Until next time…

Anthony

Anthony Kirlew
>www.anthonykirlew.com
>www.consumersadvantagemortgage.com

Original post by AnthonyK

Many people ask me why I need so much personal information when taking a loan application. The obvious reason is so that we can make sure the person is a good credit risk for the bank.

Two things to keep in mind:

1. If you can prove that you don’t need the banks money, they will give you as much as you want. (that is the funny thing about banks).

2. You only need to provide enough information to qualify for your loan. Specifically, you don’t need to disclose EVERY asset that you have, or every account. All we need to verify is money for down payment, closing costs, pre-paid items (such as escrows), and reserves.

I hope that helps clarify what can be a sensitive area for borrowers.

Make it a great day!

Anthony Kirlew
www.AnthonyKirlew.com
1-800-453-9290 - 24 hour voice mail

Original post by AnthonyK