We Heard Your Loan Got Denied- Bummer.
Here’s the thing, though: sometimes a couple small tweaks can change the whole picture. We have dozens of alternative loan options, but most commonly we just need to tell the story differently to a fresh set of eyes. Do you have another mortgage conversation in you?
The problem isn’t you, and it might not even be your lender:
Getting denied doesn’t mean you aren’t qualified, you just might have been sitting at the wrong table.
What if your mortgage was just like a bad date:
Imagine you met someone for the first time and told them, “yeah, I work sometimes, and then I take a few months off until I feel like going back.” Check, please!
Now, imagine you said you’re a traveling nurse or tradesperson who works fixed contracts with time off in between to recharge and select your next placement. Suddenly, tell me more.
The same story told a little differently can make all the difference. As a broker, I have the flexibility to look at your story and act as the matchmaker to find your best fit. It’s part of why I started this business, actually- I can make sure your loan ends up in front of someone who is interested in your scenario, and tell the story in the way that gives you the best shot.
Sound Familiar? Some scenarios we actually closed:
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I've been self employed for less than two years and I don't want to wait.
I hear this one a lot. The two year rule is actually not universal, but it does require some extra documentation to support that your new business is stable. Maybe that information just needs to be included, or an alternative loan option is your best fit, but before you wait it out, let’s see what your options are.
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I have a lot of assets, but somehow that isn't enough.
Mortgage guidelines were built for more standardized scenarios, which can feel strange when you could pay cash but are told you can’t get approved. We have a few options here. Whether your assets are structured in a trust, capital gains, or you need a specific asset depletion loan, we work with clients with complex financial pictures regularly.
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My VA loan was denied because of my income
VA loans have extremely flexible guidelines which is a blessing and a curse- there are a lot of things that they allow in theory but individual lenders may not in practice. For example, I helped someone with a shorter history of bonus income than is technically allowed by going over his file directly with the VA. We were able to work together to get his family into their new home!
Why I Do This:
This might sound crazy, but I have been in your shoes with my clients. Here’s a good one: Once upon a time, I had a client whose loan got denied because the underwriting manager thought her dog was a goat. I got the call that this file was recommended for denial because it was clearly a working farm and it had already been escalated all the way up and there was no overturning the decision. Naturally, I raised hell, and the underwriting manager snapped “If it wasn’t a farm, why is there a goat in the house in the appraisal photos?”
It wasn’t a PRETTY dog, but pretty is as pretty does. Certainly not a goat, but his decision was final and he reminded me that his job was not to follow guidelines, which my client met, but to make a credit risk decision, and he was saying no.
I laid in bed awake about that one until 3 AM, and then the next morning I did what I do, called everyone in town until I found someone who could work with the loan and it closed with no problem, because that’s what my client deserved. However, that experience and others like it are why I decided to work independently, so if ever I had a dog/goat scenario again, I would not be stuck with one person’s opinion.
I work with borrowers in Virginia and Florida, and I am the broker/owner of a small team. I have access to just about every loan option out there, and if one exists that I can’t do, I’ll tell you who to call, because you deserve a real answer from a real person. If it’s not fixable, I’ll tell you that too.
Want to Give it a Shot?
We have two ways to go: sometimes a call up front with no plan is a mortgage therapy session. I’m here for it if you are, but the more information I have up front, the more useful I can be. If you’d rather have me review everything, you can go ahead and apply ahead of our call, and I’ll go over it to come up with a game plan to review.
Are you a realtor or lender with a tricky file?
Sorry about the URL… YourLenderProbablyIsDelightful.com didn’t have the same ring to it, but I’ve been in your shoes where the file is workable, just not where I worked. I always appreciate the trust that other professionals place in me, and here are my commitments to you as another pro:
I want your relationships to stay intact. If someone did a good job but it just didn’t work out, my goal is to get to the closing table without drama- I won’t disparage you to your clients or agents. I just have options you might not have.
I honestly want you to keep the deal. If there’s a way to keep it together without me having to start over, I’ll give you some ideas. At least half the time when someone calls, it ends with me telling them how to save it where it is rather than how to send the loan over to me.
I’ll be honest with you about our chances. I don’t write a pre-approval letter that I am 60% confident will make it to the closing table, but if you’re already under contract and things are iffy, I’ll let everyone how how likely it is that we can make it work and allow you to decide whether to duke it out or step away.