Getting a Fort Lauderdale mortgage these days can be more challenging than ever before.  Lenders are being extremely careful and turning over every rock, as they scrutinize every borrower.  Qualifying for a Fort Lauderdale mortgage these days is like going through airport security and being taken to the little room for closer examination.  Let’s just say, going through the mortgage process on your own is like being dropped off in the desert without a compass or GPS.

Underwriting guidelines are changing daily, as lenders discover additional risk factors related to thousands of delinquent mortgages.  Credit scores, down payments, property types, debt-to-income ratios, appraisal, property condition and income determination have all become potential land mines waiting to blow up your transaction.

How does a buyer navigate these potential pitfalls and have the best chance to be approved for their Fort Lauderdale mortgage?  Now, more than ever before, buyers need the experience  and knowledge of a professional Fort Lauderdale mortgage broker.  Each lender has created their own rules that has made mortgage lending more difficult and very inconsistent from bank to bank.   A professional Fort Lauderdale mortgage broker can match you to a lender that best fits your profile and is most likely to approve your loan.  They can offer you products from multiple lenders and pave the way for a smoother transaction.

Self-employed, commissioned and bonus recipients will experience the most difficult transactions.  Be prepared for the lender to examine every line item on your credit report, tax returns and bank statements.  You’ll need to explain any derogatory credit and source any deposits showing on your bank statements.  There are many traps you will encounter during the mortgage process.  Do you want to trust your Fort Lauderdale mortgage and home purchase to a clerk at your bank that was probably on the teller line last week and has no idea how to read a tax return?  Many issues and potential problems can be resolved upfront by working with a professional Fort Lauderdale mortgage broker before a lender sees the file.

Make a smart decision and work with a professional Fort Lauderdale mortgage broker when searching for your Fort Lauderdale mortgage.  My 25 years of Fort Lauderdale mortgage experience, combined with my Certified Mortgage Planning Specialist and Certified Mortgage Planner designations, make me uniquely qualified to give you honest answers, great advice and guide you to a successful closing.  To learn more about my unique qualifications, read here.