1. How credit disputes affect the mortgage process and deny a loan * The pre-approval stage of the mortgage process is the most important part of the entire credit process.
- The most important reason for refusing a loan at the last minute or stress during the loan process is that the loan officer did not qualify the borrower correctly - Unfortunately, many loan officials qualify for income, take out a loan, and if the borrower is eligible for a minimum credit rating, they issue a letter confirming the mortgage - With a pre-approval letter, home buyers conclude real estate purchase agreements and undergo a mortgage process - Borrowers trust Loan officials and start packing with new furniture - Many borrowers even enroll their children in a new school where they buy a house - The loan officer then submits the loan application for processing and insurance to approve the mortgage - The mortgage insurer then notifies credit disputes in the borrower's credit reports and suspends files due to credit disputes - Credit disputes are prohibited during the mortgage process - The dangers of credit disputes are that when a borrower withdraws credit disputes, their credit ratings will not only drop by a few points but may drop significantly
2. Qualification for a mortgage with a direct lender without overlays
Gustan Cho Associates Mortgage Group at Loan Cabin Inc. are direct lenders with no overlay on government and conventional loans. Borrowers with a high debt-to-income ratio who need to qualify for a mortgage, contact us at Gustan Cho Associates at 262-716-8151 or write to us for a faster response. Or write to us at [email protected]. We have a license in many states and we are available 7 days a week, evenings, weekends and holidays.
