Buyer Frustration with Lending

Buying a home should be an exciting time. You are choosing a place to live for yourself, your family, maybe even your pet. You look at all sorts of locations, types of homes, and possibilities for making that house just right for you.

Apart from trying to find that right home for you and the challenges that may bring, I can assure you almost all buyers experience frustration with the lending process. It doesn’t matter if it is a $200,000 home or a $2,000,000 home. If you need to borrow money to make the purchase, expect a certain level of inconvenience, frustration, anger, and other negative emotions during the process. Even if you are extremely prepared for the requests made by the lender, you will find the process intrusive and exasperating. My advice? You must hang in there and persevere because you need what they have. Have all of your financial documents handy. If you have any history of problems with your finances in the past, be ready to explain then. Nothing, and I means NOTHING!, stays hidden. Surprises near settlement time create significant problems for the buyer, seller, and the agents who are trying to keep deals together. The lender’s underwriter is following strict rules and guidelines which are governed by many federal rules and laws. The cannot and will not violate them. Be up front with your lender right from the start and remember, “This too, shall pass”.

Vince

“Cyriously Working For You!”

#RealEstateFunWithJane

** If you like this content, you can find additional items of value at our Facebook page:

https://www.facebook.com/VincentCyrGroup

Oh, make sure to Like the page.