Arizona Mortgage Lender talks about the mortgage loan process
This is part two in a five-part series that explains what consumers should know about obtaining a mortgage loan. In this installment you will hear what it takes to get a loan approved from a lender. Do you know one of the best secrets to getting a loan approved? Think like a mortgage company underwriter.
Although your Arizona mortgage lenders are your point of contact, the investor's underwriter has the final say on whether or not your loan will be approved. It's important to know that underwriters get paid to "smell risk." What kinds of risks do the underwriters look for in the mortgage lending process:
- The most obvious is probably the borrowers credit; that's the most basic place for any underwriter to start.
- What about your job history? Do you change jobs like you change underwear, or are you a stalwart company veteran, or are you somewhere in between?
- Hear Craig talk about more important factors that go into the underwriter's approval process.
A good loan officer will make sure your loan application doesn't have the smell of risk in it.
View the Mortgage Company Video
An explanation from the last post:
My primary lender, Craig Bohall with Academy Mortgage, and I decided it was time to produce a series on the mortgage lending process. There are many mortgage companies and lenders on the scene, and it's important for buyers (especially first-time buyers) to understand the lending process.
We used Craig's mortgage lending experience and my video camera / production knowledge to produce a five-part series on the lending process. Craig has been involved in the real estate industry for 15 years, but he specifically has been a loan officer for the past eight years. Craig has worked for several Arizona mortgage companies and has found a home at Academy Mortgage. I would highly recommend Craig if you are looking for a real estate loan in the state of Arizona. Picking the wrong mortgage company can cause a lot of grief.
Part 1 of the series
Get a Mortgage Loan Approved