A Mortgage "No" Isn't Always Final
Being Told "No" Doesn't Always Mean You Can't Buy a Home
One of the biggest misconceptions I hear is:
"I was turned down for a mortgage, so I guess I'll have to wait."
That may not always be true.
Traditional financing is an excellent option for many homebuyers, but not everyone earns income the same way.
Business owners, self-employed professionals, 1099 workers, retirees with substantial assets, investors, commission-based employees, and others may have financing options that use different methods of documenting income.
The important thing is not to assume homeownership is out of reach after speaking with only one lender.
Sometimes a second opinion simply means exploring different loan programs designed for your unique financial situation.
Our newest educational blog explains eight types of homebuyers who may still have financing options available. To read more Click Here
Whether you're buying your first home, your next home, or an investment property, it's worth understanding all of your options before giving up.
Robert Clark | Home Loan Consultant
Firestone Financial Group
Cell: 209-227-7745
Office: 559-476-9279
NMLS #357788 | Company NMLS #301522 | CA DRE #01148307
Equal Housing Opportunity
This post is intended for educational purposes only. Loan approval is subject to underwriting guidelines. Not all borrowers will qualify.
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