PLEASE make this a series! Phenomenal information. I'm coming to the end of my 8 week NMLS course before sitting for the exam. I love all your videos. I feel like I'm packing myself up with great knowledge.
i am currently needing to finance a mortgage after my divorce. Ex tanked our scores-so i am trying to get that up (was 468,now 573)...i am self employed, make $70K-no w2, i pay taxes...i retained the home and waiting to get fair market value to finance...may have to do FHA to start....your thoughts...i am not on the Loan, only on the title...MT
We would need to look at tax returns in the entire situation to give you a realistic idea of which way to go. Also depends on when you have to refinance based on the divorce. If it’s not a rush, I would wait to get your scores up.
Realistically you want to figure out who your lender is before you are in contract but for instance I have a lot of people call me a few weeks before closing and they are getting hosed by their lender so we step in and take over their loan. A lender never has a claim on you
I currently have a 40% rating from the VA but cannot find a lender that is willing to work with me due to my type of work. I have worked as a traveling medical professional for a little over 3 years now (overall 17 years in the field, only 3 traveling) so I take 3 month or 6 month assignments wherever I'd like to travel to in the U.S., my pay is usually broken down into an hourly rate that is taxed as well as tax free stipends. I've had lenders deny me in the past due to my type of work. Is this something you have come across in the past, and if so are you able to possibly help?
I’m happy to take a look at. We work with a lot of traveling nurses, however, in all honesty, generally their consistently working. So I would definitely want to see how you have mapped this out as multiple large job gaps can be problematic because there’s a lack of income continuity. Give me a call and let’s walk through it. Make sure if you get my voicemail you say Jennifer Beeston only because likely I would take your scenario to an underwriter based on what you’ve already told me. 707-478-0637
@@JenniferBeeston Perhaps I worded it wrong, I do work consistently. I was just explaining I take 3 month assignments or a 6 month assignment, and once that assignment is over I roll right into another assignment. I have no employment gaps other than a week or two between assignments to go home and switch out clothes and gear, or traveling from old assignment to new assignment. I'll call sometime this week when I have some free time. Thank you for your response!
@@JenniferBeeston thank you 🙏 I will reach out towards the end of the month, I'm on last week of an assignment in Fairbanks, AK and will be driving back down to lower 48 so next few weeks will be quite chaotic for me.
I am a first time homebuyer. I reached out to a lender who got good reviews. I filled out the application and I sent all required paperwork. It’s been three weeks and they still have not pulled my credit or given me any idea about a preapproval.even after three phone conversations. What is the purpose of this delay?
Super odd I would just call them and ask what the status is and if they’re still ghosting, you just switch lenders. It seems bizarre generally a good Lender is going to have some level of communication. I would check your email and junk mail though as well because they could’ve been trying to get a hold of you also check voicemail.
Take my word for it,, Jen and her team are the real McCoy, They can make miracles happen, 👍
PLEASE make this a series! Phenomenal information. I'm coming to the end of my 8 week NMLS course before sitting for the exam. I love all your videos. I feel like I'm packing myself up with great knowledge.
Jen definitely helped me and put me on the track from just a weekend call, she took time out to help me ❤❤❤
Such an important message! It is not worth saving that little bit on rate if you have a loan officer who doesn't know what they are doing.
As a Loan Officer, I have to say that you covered every base in this video. Very well done 👍
TY!
Very good points that is needed to know who to get a loan with.
Happy to help!:)
Strong points!
Is "the underwriter" just the bank that is loaning the money? If so, it sounds like a vague term for "definitely not a mafia front" lol
the underwriter is making sure the loan meets the guidelines for the lender who can be a bank, mortgage company or credit union
i am currently needing to finance a mortgage after my divorce. Ex tanked our scores-so i am trying to get that up (was 468,now 573)...i am self employed, make $70K-no w2, i pay taxes...i retained the home and waiting to get fair market value to finance...may have to do FHA to start....your thoughts...i am not on the Loan, only on the title...MT
We would need to look at tax returns in the entire situation to give you a realistic idea of which way to go. Also depends on when you have to refinance based on the divorce. If it’s not a rush, I would wait to get your scores up.
at which point are you tied to 1 lender if youre still shopping rates?
Realistically you want to figure out who your lender is before you are in contract but for instance I have a lot of people call me a few weeks before closing and they are getting hosed by their lender so we step in and take over their loan. A lender never has a claim on you
I currently have a 40% rating from the VA but cannot find a lender that is willing to work with me due to my type of work. I have worked as a traveling medical professional for a little over 3 years now (overall 17 years in the field, only 3 traveling) so I take 3 month or 6 month assignments wherever I'd like to travel to in the U.S., my pay is usually broken down into an hourly rate that is taxed as well as tax free stipends. I've had lenders deny me in the past due to my type of work. Is this something you have come across in the past, and if so are you able to possibly help?
I’m happy to take a look at. We work with a lot of traveling nurses, however, in all honesty, generally their consistently working. So I would definitely want to see how you have mapped this out as multiple large job gaps can be problematic because there’s a lack of income continuity. Give me a call and let’s walk through it. Make sure if you get my voicemail you say Jennifer Beeston only because likely I would take your scenario to an underwriter based on what you’ve already told me. 707-478-0637
@@JenniferBeeston Perhaps I worded it wrong, I do work consistently. I was just explaining I take 3 month assignments or a 6 month assignment, and once that assignment is over I roll right into another assignment. I have no employment gaps other than a week or two between assignments to go home and switch out clothes and gear, or traveling from old assignment to new assignment. I'll call sometime this week when I have some free time. Thank you for your response!
look forward to chatting. You can grab a time here too if it works better for you calendly.com/jennifer-beeston/preapproval-q-a
@@JenniferBeeston thank you 🙏 I will reach out towards the end of the month, I'm on last week of an assignment in Fairbanks, AK and will be driving back down to lower 48 so next few weeks will be quite chaotic for me.
I am a first time homebuyer. I reached out to a lender who got good reviews. I filled out the application and I sent all required paperwork. It’s been three weeks and they still have not pulled my credit or given me any idea about a preapproval.even after three phone conversations. What is the purpose of this delay?
no clue as I am not the lender. Was it the individual you read reviews on or the company? You should email or call them and ask what the deal is
@@JenniferBeeston it was the individual.
Super odd I would just call them and ask what the status is and if they’re still ghosting, you just switch lenders. It seems bizarre generally a good Lender is going to have some level of communication. I would check your email and junk mail though as well because they could’ve been trying to get a hold of you also check voicemail.
You're 16.
lol Russ, you flatter me. TY:)
@@JenniferBeeston Well, you were born to do this. 😇