The Borrower/Buyer comes in many different varieties from W-2 employees, Retirees, Self -Employed, Investors, ETC. The Underwriting Guidelines also come in many different Varieties from the buyers or Insurers of the mortgages, be they Fannie Mae, Freddie Mac, FHA, VA, Banks, Hedge Funds, Insurance companies, ETC.
The Borrower/Buyer’s goal is to secure financing for their home or rental property and they are best served by seeking advice and Pre-Approval from a Mortgage Professional who has the experience and access to a number of funding sources. Not every loan fits every borrower and making the Square Peg fit the proverbial Round Hole takes experience, knowledge and an ear for the customers’ needs. A Mortgage professional knows the underwriting rules and can advise on how to round out some of the rough edges on the Peg and precisely match the Borrower/Buyer to the best loan program(s).
Underwriting Guidelines are designed to meet the level of risk that the Buyers or Insurers on the loan find acceptable:
Remember the greater the risk the higher the interest rate so be sure to speak with a knowledgeable Mortgage Professional who can advise what best fits your needs, not the other way round!
Tim Shuey and Maritime Mortgage have been originating Residential and Commercial Mortgages more than 30 years throughout California. Call us with your questions. We have knowledge to share.