“Your Loan Got Denied, Does that Mean it’s Over?”

“Your Loan Got Denied, Does that Mean it’s Over?”

 

 

 

I know you told me there was a possibility I would get denied if I went to my bank, do you still feel we should move to one of your lenders? What are the chances that another lender will do it differently than the first one? Fortunately the seller is willing to wait for me, but should I have them contact you if they have questions?

 

 

Fortunately, the mortgage broker world has many options that banks just don’t have. In today’s mortgage lending world, banks are closing 23% of the mortgages and mortgage brokers are closing 77%. That is a huge disparity.   

 

Don’t get me wrong banks are very important, but they just don’t have all the mortgage options that we do.

 

Absolutely, this client will have a good shot at getting the mortgage approved, it is like going from less than 50/50 to a 75% chance of getting the mortgage. Those are much better odds.

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 2 commentsJoe Petrowsky • December 16 2019 05:00PM

Comments

Good morning Joe. For those that are not a pure vanilla borrowing candidate, the best option to approval is a mortgage broker. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 3 months ago

I totally agree! Mortgage brokers are your best shot to get a mortage if banks deny your loan.  Mortgage bankers have so many more options to get you where you need to go!

Posted by Sham Reddy CRS, CRS (H E R Realty, Dayton, OH) 3 months ago

Participate