10/19/2022
Want to know the of qualifying for a with a large bank? Here's a personal testimonial from my client before I was able to help them!
You fill out a loan application online and have to input all of your financials, with no help or explanation. Then a processor (not even a loan officer) puts your file together and asks you to start sending them your documents. After they receive everything they will generate required disclosures then send it in for approval.
Here is the problem!
These banks will not call you to ask any questions, they will not make sure it's structured correctly and most importantly, they don't even make sure the loan is meeting all your needs! So after waiting and waiting for some sort of update or response you finally get a notification from a Loan Tracker app indicating the loan is closed! CLOSED??
Yep, the loan was denied and you didn't even get a phone call or even an email letting you know the outcome, let alone what you could possibly do or submit to get the loan! You want to know why? Because these banks don't have someone to structure the loan, they do not offer appeals or guidance on what needs to be done to get an approval nor do they offer help along the way to make sure you are even filling things out correctly!
These large financial institutes have a box and if you are someone whose income is structured differently, you have a low fico, or you have a situation that requires an explanation, then your loan will be denied without so much as a question!
So do yourself a favor and seek help from an experienced brokerage, who has your file through the entire process and who you can easily get a hold of with any question or concern!
