All Mortgage Companies are Not Created Equal

Filed under: Borrower Tips

I want to point out that not all mortgage companies are created equal. In the last few weeks, our office has rescued three different loans – I wanted to highlight these stories to help you see that there are options.

The guidelines are what they are, but every underwriter can look at it a little different. That’s one of the things I love about Franklin Loan Center. We have a streamlined approach to get loans in, make sure they fit the guidelines, and help people move along without issues.

Loans We’ve Saved Recently

Here are a few examples where the buyers thought they weren’t going to be able to get the financing, then our team was able to find a solution to get it done:

  • Situation #1: This property is on an acreage with a stick-built home and a manufactured home as well. They were told “no” by several lenders, then came to us and we were able to help them get the financing they needed.
  • Situation #2: Apparently, there are a handful of lenders that still aren’t working with any type of loans that had a mortgage in forbearance. We will require that you get the loan out of forbearance – for example, you might need to come current on the payments so we can move forward. Those loans are still completely doable with the right strategy.
  • Situation #3: The borrower had a big job gap. The person was back to work, and the whole situation looked pretty straightforward. But they were denied by two different lenders, then came to us and we were able to pull it together.

When No Doesn’t Mean No

If you get a “no” from a lender, maybe it isn’t a solid no. It’s worth exploring your possibilities. We’ve got some great underwriters in-house, and we’d love to have a crack at any tough financing situations you are facing. Feel free to reach out any time so we can discuss your financing options.

Franklin Loan Center | NMLS 237653
Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, 4131316
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