Mortgage Miracles Happen - Ben Gerritsen

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Mortgage and Lending - Mortgage Miracles Happen, NMLS ID: 1289680 - NMLS # 285653
I provide mortgage financing tips, financial news, credit tips.
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I have had numerous phone calls this past month where the client is asking the same question, "How much of a house can I qualify for?".It is not rather how much house you can push the limits to qualify for, but rather one critical question, "What is your budget permit for a monthly housing paymen...
Fewer than 300,000 American workers filed applications for unemployment benefits for the sixth consecutive week, pointing to labor-market strength even as hiring cooled last month. While a Labor Department report in Washington Thursday showed jobless claims increased by 12,000 to 294,000 in the w...
ADP Job report and the ISM index bot missed expectations, this providing fuel for our bond rally.   Pricing on loans have improved today.   Your thought for the day: "Spend zero time on what you cannot control, some time on what you can influence and most of your time on what you control".   www....
There are certain debts that show up on your credit that can be excluded from your Debt to Income ratio (DTI) when applying for a mortgage. Some debts, however, cannot be excluded and may affect your ability to qualify for a loan. The most common debts borrowers try to omit (leave out) from thei...
For the past twenty years, three standard mortgage practices have occurred behind the scenes during the mortgage process: Verification of Employment (VOE) Changing of the “mortgagee clause” on your homeowner’s insurance (HOI) declaration page Credit supplements, such as a Verification of Mortgag...
Refinancing an FHA mortgage loan is very similar to refinancing other types of mortgage loans, both conventional loans, VA loans and USDA mortgage loans.   FHA mortgage loans has its own list of requirements and regulations that govern refinance loans.  If you’re considering an application for an...
It's true that the FHA does list a minimum FICO score of 500, but very few lenders offer this financing option.  Many lenders have "Overlay's", or "Additional Required Guidelines" to qualify for a home mortgage.  Why is this? The lower the fico score, the higher the likelihood of the borrower def...
The industry standard DTI (debt to income) ratios to get approved for a mortgage loan is 28 /36% of your gross income.  If you are having a manual underwrite of an FHA loan, this is the typical ratios. The automated system (electronic approval) will give approvals higher than 50%.  We've seen at...
Yesterday I was driving around while in an upscale neighborhood in Salt Lake City looking at houses that are listed for sale.  We saw at least three (3) homes that were vacant and totally empty inside as we peeked in the windows. What a difference it makes when a home is furnished vs empty. Then...

Ben Gerritsen

Mortgage Loan Originator
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I am a financing guru. I have over 14 years of experience in the financing industry. I have a high closing ratio of loans that I help clients with. This comes from knowing if someone is a candidate right now or if they need to do things to prepare to be a borrow at a later time. If someone doesn't qualify right now, I help that person so they will at some future time so they everyone has hope to improve their circumstances.