Why You Want a Fully Underwritten Pre-Approval -What Is a Fully Underwritten Pre-Approval?
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- Опубликовано: 8 сен 2024
- #underwriter #preapproval #realestate
I am licensed in 48 states and I am happy to be your mortgage lender 😁 707-478-0637
☑️Here's how to contact me and my team
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⭐Have mortgage questions? Pick a time that works best for you here
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⭐Ready to get preapproved?
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⭐ Call Me: My cell phone is 707-478-0637 I am happy to help. Let’s get you home!:)
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Licensing info: Jennifer Beeston, SVP Mortgage Lending NMLS 247743 at Guaranteed Rate, Inc. NMLS 2611 Branch Address: 1750 N University Drive, Coral Springs, Florida, 33071 Equal Housing Lender
For licensing, go to www.nmlsconsumeraccess.org
Top 1% in the nation 2016-2022 www.zerostressmortgage.com
NMLS 247743 Guaranteed Rate NMLS 2611
To access Guaranteed Rate:
www.guaranteed...
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My State License Numbers:
AK - AK247743, AL - 72998, AR - Licensed, AZ - 1007541, CA - CA-DOC247743, CO - 100516570, CT - LO-247743, DC - MLO247743, DE - MLO-247743, FL - LO66900, GA - 70357, HI - HI-247743, IA - 33839, ID - MLO-2080247743, IL - 031.0054184, IN - 41478, KS - LO.0039219, KY - MC717200, LA - Licensed, MA - MLO247743, ME - Licensed, MI - 247743, MN - MN-MLO-247743, MO - MO-247743, MS-247743, MT - 247743, NC - I-189119, ND - NDMLO247743, NH - Licensed, NM - Licensed, NV - 66544, NY - Licensed, OH - MLO-OH.247743, OK - MLO20600, OR - 247743, PA-247743, SC - MLO - 247743, SD - MLO.08498, TN - 205478, TX - Licensed, VA - MLO-40552VA, VT - VT247743, WA - MLO-247743, WI - 247743, WV - LO-247743, WY - 8203
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Guaranteed Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.
Yes the underwriter helped me a lot.
1st time buyer, I get my keys today. 🤩
Congrats!!!!🍾🎉🎈🎊
I had a seller ask for fully underwritten approval. I was offended at first, but it looks like a blessing in disguise. I want a zero-stress mortgage experience.
Give us a call. We are all about the zero stress experience. 707-478-0637
I absolutely love how committed you are ! You’re amount of passion on what you do is wonderful!
Thank you so much for your kind words, Jessica! I appreciate it so much!! :)
Thank you so much for sharing your process and experience. I am a loan officer, and I love your policy! ZERO stress mortgage process. ❤❤❤❤
Seriously Jen, if I wasn't already committed to a lender and realtor, you'd have me ❤️! Thank you for what you do you're brilliant!
Thank you!
Same, here..
Same.
Jen and her team are great and extremely thorough! I loved my experience with them.
Appreciate you so much ❤️❤️❤️
I can definitely appreciate your thoroughly prepared approach. I started looking into a home equity loan, but cancelled, not ready yet. I'm learning lots through your vids, and thank you for such prolific helpful info!
Thank you, just found out about you. I had two experiences. One quick lender that gave me an approval process and gave me more than I could have imagined affording. She didn't ask for my DL either. I recently found out she was fired... but also, I shopped around and found another one. In the meantime, the other lender asked for so much information that I was wondering why this experience was different ( did find out it was an underwriter process). But wanted letters from my remote work, letters about why the company bonus changes from year to year.. etc. After listening to you, now I understand why this lender asked so much from me. I am grateful that they did ask for so much from me. Why I am moving out of state, I really now feel comfortable that my house purchase goes through! (cross fingers) once I find my house.
Great video! I know first hand that you practice what you preach. Thank you Guaranteed Rate Team.
Thank you ❤️❤️
I received an email from Maria today and held my breath. Lol. Got the preapproval back. Now to find a place that fits in the budget. That's the hard part. I'll get on the calendar for the beat down. Haha
🤣🤣🤣the red arrows calls are fun. You must have impressed Maria to get an approval that fast :)
Lol. Probably because I was driving her crazy. I was super impressed she worked the weekends. She sent my docs forward yesterday and got them back today. It's been pretty straight forward. Hope you aren't going to ask me another essay question on the call. Lol
@@grissomfire You never know I may:) Looking forward to our call
I certainly appreciated your forthrightness on the phone yesterday. Looking forward to seeing what happens in few months...
Happy to help:)
My first lender didn't ask for VOE and the pre approval took 30 minutes. Thats why I switched to you.
Love your videos, Jennifer! I have a pre-approval from another lender but I'm going to get one from you. After watching so many of your videos, I just wouldn't feel comfortable with anyone else. We've talked before but I'm going to make another appointment with you because I would just feel better about this whole thing. Even though I will be moving out of state, you are licensed in the state in which I plan to move, so I can use you.
Sounds good, look forward to chatting:)
@@JenniferBeeston whe should I get unwritten if buying in six months
@@kennethreed1740 I would say a few weeks before you want to start looking. Keep in mind it can take a few months to find a house due to lack of inventory so if your lease is up in august I would get preapproved in may. If you find a house in July and close in august first payment is in October.
Again such good advise. The worst is when I get the file to underwrite and I can’t approve it because it wasn’t processed correctly! I feel horrible for the borrowers it’s sad when that happens
Yep a good processor is worth their weight in gold
Documentation is the spice of life!
So much good info on this channel; thank you for helping educate us.
Thank you for tuning in:)
Based off my experience this is the type of Loan Officer you want.
Ty:)
I'm in underwriting now with veterans united. Got a conditional approval and only had 6 items needed, some docs I got to them. Hopefully all is well
Make sure you go over rates and fees with them if you have not already. Last I checked they charge 1% up to $3500 origination and a lot of lenders do not charge that.
Oh my gosh, this is music to my Realtor ears 🤩 I stress the importance of being fully underwritten to my buyers all the time. I love your passion for your clients. Are you licensed in NC?
Yes I am and I would love to help your clients. We also can lock their rate while they shop:) 707-478-0637
Great video! Thanks for the info and honesty.
Happy to help!:)
I have been under contract for 30days+ now and 1 day to closing , there’s an issue with my transcript. I’m losing all my money, time and effort. So depressing 😞
I am so sorry to hear that and sorry I just saw this comment. Hoping your lender was able to handle the transcripts
Very helpful, thank you 🙏🏾!
Hi! Jen.
Thanks❤
This is really good information!
Thank you!
Excellent information
This was incredibly helpful! Thank you!
Glad it was helpful! Thank you for watching! :)
Thks for important info!!
How long a fully underwritten application stays valid for? It may take a buyer a few months to win a house after they are fully underwritten. Do you have to restart the processes at some point? Because they might be losing money in stock market right after they got fully underwritten.
It’s good for 90 days but we can easily update. If all your downpayment is in stock market yes you will need to watch your money as we have to make sure you have enough to close
Great advice!
Thank you Rob!
Amen!!
Thank you
I shopped around for rates about a month ago and used two lenders, I was going to go with a 3rd but it seemed like I had enough on my plate with 2 lenders calling me everyday and one was asking what the other'r rate was etc etc...I finally ended up with a 7.125% rate after doing a rate match and still don't feel like I got the best rate possible with 800 FICO scores.
Are you locked and in contract?
@@JenniferBeeston Yes rate is locked and I have cleared for closing on the 18th!
Hello, I am a new subscriber, thank you for all the great videos you have. I do have a question, I didn't know anything about filing my taxes if looking into buying a home this year, we have already filed our taxes(w2) this year, is that a bad thing? Thank you in advance
Thank you and welcome to the channel. Totally good that you have already filed your taxes:)
Question:
I've been trying really hard to buy a new home in Texas. Currently live in NC, but recently retired from the Military so I would like to move back home.
I currently have retirement money coming in and my wife works locally. Underwriters keep denying us on a loan because my wife works in NC and he has no job lined up in TX. We can't get a job lined up in TX if we don't have a home...it's a circle.
Do you have any experience with any situations like this? We'd like to use our VA loan again (current house is under VA loan) and have enough entitlement left to use it.
Any advice you have on this type of scenario would be greatly appreciated.
Yes we would need permission from her employer to work remote or a job lined up in Texas or not use her income. If you can’t get a job offer letter for her and need her income then you would need to rent get job handled and then buy. Feel free to give me a call as a job offer letter may be the way to go 707-478-0637
Very helpful information! Question... A little off subject but I heard it's pretty difficult to get financing on land. Wondering if in fact that is true
It can be more challenging as a lot of lenders do not do them but I would check with a local bank that specializes in them. I think US bank does as well:)
I know I saw a video where if you're fully unwritten your rates are locked. Every mortgage company will quote you low rates based on good credit etc... but as soon as you get into contract the rates go up.
That is not accurate. Being fully underwritten does not mean you are locked.
@@JenniferBeeston I know that but one of your videos stated that make sure that your rates are locked. I see a lot of bait and switch going on with mortgage companies
Great video ! - So can a buyer waive a financing contingency if they have a fully underwritten pre-approval (and compete with cash buyers) ? what are outstanding risks? thx
Hi Mike. I did a video all about what an appraisal waiver is and the consequences. It was Tuesday of last week:)
Are you licensed in Illinois? We received a conditional approval from the builder’s mortgage company. My wife submitted all her documents since she’s self employed and now the underwriter is asking why my wife’s account didn’t add some income from 2020. Would an additional down payment help the underwriter process the loan to make up for the less income she filed in 2020 or should she looking into amend her 2020 taxes? She did email the mortgage processor and offered an additional $10,000 down payment. The house cost after all the upgrades and lot fees was $382,000. The builder is giving us $5,000 for the upgrades so total cost of the house is at $377,000 we’ve put $20,000 cash as earnest money, have offered $40,000 in total down payment, could move up to $55,000. To bring the note down to $322,000
Yes I am licensed in Illinois. They approved you but now have income concerns? That's a red flag. You need to know 1) how much income they are using for her and what your debt to income is. Based on that you can determine how much you may need to put down. I would not amend 2020 taxes unless you made an error on them on amending tax returns mid process can cause problems.
Im trying to buy my first home. I have my credit close to where I had planned for it to be. Do you do locally? or how does it work? Do i have to be local to work with you? I'm so lost when it comes to buying a home. Any help would be much appreciated!
Hi Jason, I work in 48 states. You do not need a local lender unless you really want to meet with someone in person and hand them your documents. Happy to chat 707-478-0637
New communities are being built everywhere in my area and a lot of them are offering financing. We want to buy this fall but are green to EVERYTHING. Do you recommend trying to get approved with them because it’s on site or should we still look on our own?
You generally have to get approved with builders lender but I would 100% get approved with another lender as well (we would be happy to help). Look for my video fake builder credit
Cavers on VA loans?
yep on all government loans
We have a two time close construction loan. The house is 30 days from CO and 60 days from closing. We arent happy with the rate from the lender. Can we switch lenders at this point and try to shop a better rate? Is is possible to shop lenders now that the loan is going to be a regular mortgage and no longer a construction loan?
Hi, quick question - is it possible to have a fully underwritten pre- approval for a new construction?
Yes
Thank you
We’re currently in underwriting…should we wait to file taxes after the loan process or wait? We don’t want it effecting our loan process..
Do not file your taxes during the loan process. Always wait till you get the keys to the house unless you are self employed and need 2021 income to qualify.
I wish all did this I'd rather get underwriter loan first
We are here for you:)
Helpful
Thank you:)
So if I owe back tax I can’t get a loan ? What if paying it off over time
if you are on a payment plan and your taxes are current it will not stop you
Is it true mortgage apps are down 18.3% from last month
Across the industry probably higher then that. Mine are not down as I specialize in helping people buy homes. #purchaselender It’s the refinance lenders that are really hurting right now.
Luv this video...question..how much would need to make a year to buy a home for 100k in Wisconsin?
Totally depends on your debt load
@@JenniferBeeston there is zero debt..no cards or cars fico is about 720
Why don't other lenders do fully underwritten pre-approval? Cost?
Cost and effort.
Hi Jen, another great video! How do you verify employment? I work for a very large company and they use The Work Number by Equifax which is a secure website. Are you familiar with this and is it accurate? I am still waiting on my HR to provide me an offer letter for my new full time position that starts this Monday. I've gotten the run around so far. With the absence of that, would my new pay stub of 40 hours + the Work Number verification be enough? I don't even want to apply for a mortgage until I have everything I need on my end. Im going from 20 hours to 40 hours weekly. Been with the same company for 7 years.
The work number does not always give the full picture. My processors deal with it every day so could answer this better. I personally would want the offer letter as I would need to show the change from part time to full time to justify the amount you have made year to date. Or a manager stating the date you went from part time to full time. Work number is very vague
Hi Jennifer,
If I apply on your website to see where I am on the pre approval, does it run my credit automatically? I ran my credit with a previous lender and I am not sure how long I have until running my credit won’t give me another hard inquiry… I don’t know how accurate Credit Karma is but it gave me two weeks so my last day to run my credit is the 15th
Yes it would run automatically. Generally if multiple lenders run within 30 days your score doesn’t get hit
@@JenniferBeeston thank you!
I’ve been working with Veterans United, but I was told I have to wait, but I’d like to speak with you offline for more details. How do I contact you?
707-478-0637 Monday would be best;)
@@JenniferBeeston Ok. Thank you.
Hello,
My husband is getting out of the military in May and has already started his new job; going under training. After we get his voe; I’m a stay at home mom, how soon can we work with our realtor to find our home? Should we get an underwritten or just go on ahead with looking for homes etc
We’re currently living on base. Based in Arizona. Thank you.
Get preapproved first
@@JenniferBeeston thank you for replying, in order to get pre approved, can we use his current income (military) or would we have to wait till May to get pre approved with his civilian job and dd214?
@@ashleyc6342 we would need to use civilian job as you can only use military income if he has over a year left
@@JenniferBeeston thank you so much, we are currently in Yuma, Arizona and watching your VA related videos really help. I do hope I get to use your business when the time comes.
Why do other lenders say you have to be in contract to be fully underwritten
Because they are cheap and don’t want to spend money underwriting you until you are a sure deal for them to make money off of.
How do I find someone like you in my area? Because we have lost money using other lenders
I am licensed to do loans everywhere but Rhode Island and Utah so as long as you are not in those two states my team and I can help. 707-478-0637
@@JenniferBeeston thank you I will be contacting you
Can you service Georgia & Florida?
Yes both and happy to help:) 707-478-0637
Is the underwriting process more difficult with income being a pension, social security, and annuity?
No those are generally the easiest forms of income
Hi is their any mortgage lenders you would recommend in visalia?.
Yes me
@@JenniferBeeston how can I get your contact info?
What lender do y'all use?
We are a direct lender
Hi when should I get preproved if I buying in 6 months
Do you do refi
Yes we do refinances. I am at 707-478-0637
You are licensed in NV right?
Yes I am and would be happy to help:)
Cool
Does a conditional pre approval letter means it’s been in underwriting?
Hard to say depends on lender
Manual underwriting vs using a machine?
It’s a loan commitment
Are you licensed in Delaware
Hi Alex! Yes I am. You can reach me me at 707-478-0637 ! :)
Lol.
Great video! Thank you for these informations. Can we contact you soon? Thanks
Of course pick a good time here calendly.com/jennifer-beeston
Thank you
Thank you for tuning in:)