By Ron Blessey, Private Mortgage Banker, Wells Fargo Home Mortgage
NMLS ID # 214672
The goal of all parents is to provide a stable home environment for their children. Finding the right home configuration with all the features that fit the family’s lifestyle can be a process. Some buyers look at many homes over a period of months to find the perfect nest for their family.
These days it is not unusual for both parents to work. In some cases, both parents are salaried employees and receive a specific income every month for the services they provide their employer. In other cases one or both parents are self-employed. In that case, a two year average of their income is needed. And, of course, there could be a combination of salaried and self-employment income for me to document for my underwriter.
All good and responsible parents keep excellent records of all their financial documentation. When presented with the list I compile of the documentation I need, it is easy for the borrowers to collect what they have on hand and supply it to me for my file. I can then provide a program tailored to their needs and qualifications, as this is one of the most important parts of my job.
Much like a parent, I listen intently to what my clients want in the way of a mortgage and advise them on how they can qualify for those terms. The initial interview I conduct provides me with the information I need to make a determination for that client. On the other side of this process are the borrowers who should always articulate their wants and needs. Never shy away from asking questions throughout the process; after all, borrowing money to buy or refinance a home is an educational exercise. Part of my job is to educate borrowers in how the process works and why we ask for documentation throughout the process, which is an integral part of getting loan approval.
At the successful closing of every loan I produce I can look back with satisfaction knowing I have done my job to the utmost and provided those clients with a loan that has met their expectations.