First Time Home Buyer's Loan Humor
Home Mortgage Help to Conquer Fear of Buying a Home

My customer's first time home buyer's loan was certain to be approved, despite her fear of buying a home. How did I know? After selling real estate followed by home mortgage origination for many years, I'd developed a pretty accurate gut instinct.

Gut Instincts & Home Mortgage Help

Still, I questioned Nellie carefully because instincts are not 100% fool proof. This was her second round of seeking home mortgage help. She had been through enough and I didn't want to add insult to injury.

Are you wondering why she'd put herself through the grueling process again? Nellie had been approved for a mere $80,000 but the average home price was $250,000 in the neighborhood where she planned on raising her three sons.

Pins and Needles & Fear of Buying a Home

Nellie was on pins and needles and understandably so. Her fear of buying a home was at its height.

After I'd listened to her for an hour or so, I really thought there was hope for her to borrow more money. I proceeded to ask for more qualifying information.

Calculating their income revealed she earned the lion's share. What her husband earned appeared pretty miniscule. Something didn't seem right.

My mistake. I assumed she'd accidentally given me his net pay, a common error among first time home buyers to offer after-tax imcome amounts.

I Called Her Husband Gross

Attempting to be discreet I proceeded to inquire, "Gross?" To which she replied, "I know, (big sigh) his income is really gross."

When Nellie saw the snicker on my face, she realized what she'd said. We both started laughing. Boy did that break the ice!

First Time Home Buyer's Loan Approval

After that, she relaxed. Turned out her pessimism was ill-founded. In spite of her husband's "gross" income, they closed on their home mortgage about a month later and I gained a friend for life.

So don't let your fear of buying a house filter what you hear a mortgage professional saying. Ask questions. Then ask more! Go here for 8 effective principles to determining which are the best Mortgage Lenders.

A Gold Mine Of Homeowner Help From Ask Kate

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