Getting Koalified for a Home Loan


Episode four of the Steven Tyler show is is is is Steve here Tyler what is up today was that my friend man I love our intro we just got created and it’s pretty awesome you are incredible actually alone a pretty excited about that were talk about Tulsa mortgage loans and were talk about tulsa mortgage loans in general in Tulsa and are looking for that matter but you know haven’t listened into the Steven Tyler show on the intros pretty cool you know Stephen and I got a little card from one of our realtors is what you want on my one Facebook JB and she said she just love St. Steven Tyler without a card yet they should be Stephen so today were to talk about the little play on the little bit because of our get qualified to talk about how you get qualified for a home loan and what that looks like for for people so Tyler I think mainly we want to hit like three points the first one being when you make an application for the lender I was at me when you when you apply and what it means when you credit qualified as loud call it an than what else how do you know how much house you qualify for qualify for code qualify call the front get so okay cool so were to start talking about that first of all time was it look like when you’re what I say making application or filling out an efficient with a with a lender talking about that really just making the initial contact be that online phone call and person however your preferred preferences preferred preference like that however you prefer is money they okay sorry I we discover sounds to end the place with a lot of your can hear but I am like a child with a sound board so just get used to so it’s would you say that your initial contact with the wonder how we preferred to with the best way to do that quit is this what the really is no best way your best ways our best way to handle we are saying quite clear to all of what you what it’s however you prefer it however you… What you take most of your application stop majority mine eyes everything on over the phone got and I was a lot online and some people prefer to get some people come in and this week that want to do it in person so that so really I think what I wanted a hit on starting that application and what that means is that getting all that initial information that we need like your name and your data birth in your social where 11 we were 20 make that come basic stuff that we need to get in order to just be able to start with something to see which okwallfoam four and part me what you call 54 make sure you correct me if I do that against her so what that looks like is is Tyler said over the phone noted online or doing it in person and really it’s up to your preference yes Kevin Dean the Aerosmith song kind of is our intro of your people commenting here on Facebook discount of phonics so sorry why when you’re when you do that that relationship reference entities different so you want make sure that your with the lender that that you’re comfortable with and whether you do it online in person or over the phone working to get some pretty private information from you so just understand that our website is safe and secure dislike every lender is required to and the biggest thing that I think is most important power area lower lobe on this is the information that you provide to the lender needs to be what accurate and accurate exactly. So talk to me about somebody that the maybe didn’t get as accurate information with that in the what happened in owning there several times and it happened but when people are saying hourly employee so they get paid by the hour they make 12 bucks an hour by then all of a sudden they tell you initially only I make $80,000 a year while at 12 bucks an hour you must work on overtime basically every minute of the day to negating Rainier vicious not happen so why not just tell me make phone order how did you make it oh well you know my parents any money or at a side job or something comes up or down about a month
yards okay that’s great the you did the things to make your 80 grand year but can be set off of digital Darnall so you seem to be accurate income is certainly find out up front were to find you can highly think for me you cannot everything from or Tyler were not on the student are so economic taste of the house are tentatively that your brother in America we can find out there so many ways that we can verify stuff from you know your tax returns to your BTUs to are the employment of case we get all that so just sure when you make an application with a lender that you are being accurate and your giving all the information because… It can be painful for you and someone’s asking online how would you commission correctly commissioned for to be accurate we have to take an average self your commission you typically have to have a 24 month history of doing it although we can do it in was someone’s receipted for 12 months but it just for the loan program that you do in that we average it so ridiculous 12 months are blessed with four months an average it really is something overtime and so she started a job or your overtime and you started getting overtime last month I like that I really account also your employer has to say it’s likely to continue a K So anyway so what else we talk about what’s credit qualify me so one of the things we do is, to be determined underwrite living Tyler it means that you get completely underwritten without a property month so your, text, that and that means completely underwritten that you so that you know what you qualify for exactly without property so now you have the prospect that it is the price range loan program argot of your income documents right economic you available process before you have to go through the whole process and then when I do get a contract from you than what happens and we do it again what is peace and we get up we get a appraisal the property we get title work on the property we get a database of the premium but have no fear you party been completely approved minus property and title and economics the property sells qualify but that’s about it so that’s pretty good right so when when we say credit qualifying what we mean is we look at your credit and most likely looked at your income and based on a inter league Tulsa jumped on their end and basically we and underwriters received your income they received your credit and we’ve given approval based on that income and credit so right word was her third topic our third point know how much house you: qualify for how do you know how much house you qualify for him him beautiful I that I let them into a to the little a little over awkward fifth that’s exactly why you would go through that that to be determined that credit qualifying right yet so you would know but the way you know is by providing accurate information to your lender of front end quickly as of soothingly to talk about earlier Tyler what’s it butcher biggest pet peeve with clients will argue that you today and today turns and tomorrow martyrs and Friday Friday turns in the next Friday so when I just get Tamina yet just if you want to buy a house you have to get me all the documents is it does the quicker the better than a sweet smile make me happy to you so get accurate information and then you will know because if a lender if you tell a lender that you make $80,000 year as Tyler was eluding to earlier and then you tell that lender that it is salary or whatever and then you asked for pre-approval and they give you a pre-approval or to give you a pre-qualification then here’s what happens when I get your actual income documents and find out that you only make 12 bucks an hour have to resend my qualification into walls die when that happens seriously every time that happens we have to take a koala they die and no one wants to dilute the hypothetical call like if a koala love you were you you you get my point anyway provide accurate information because I was a loss for to figure that out and then from that if you give me a
can information you’ll know exactly what you qualify for here’s the thing will call this a will we call it like a mystic statistic a little stat for you always a business that okay most people qualify for more house than what they actually want to buy and his wife because just because I tell you your golf qualify for a 1800 or tulsa mortgage loans payment doesn’t mean that’s what you’re comfortable with and so tardy do you see that happening all the time we got a couple of minor you that would qualify for 23 times what they’re want to buy but it’s fun to go through that process right it’s totally fun to tell the the Joneses that they can buy a 280,000 house but perhaps and down but want one of two things were both things are limiting them either the developer requires down payment and they don’t have the down payment on 280,000 or thereafter payment do you know without talking to a lender Tyler what you’re comfortable with and a tulsa mortgage loans payment without me tell you what you qualify for a man ought uncomfortable spending every month. I did really anybody tell me what uncomfortable with the threat check custom Graham said make sure you file your taxes legit yet that’s true you need to make sure he do that and some is ask about stated income loan off talking up the off-line there are some that’s a good little too heady minutes ago and for another podcast so most people qualify like I gave the reference of the the Jones family that may qualify for a lot more house than they actually want and so it’s like I said it’s fun to go through that process to find out what it is exactly that you qualify qualify for but then the reality of what you want your payment so we just organic contract tomorrow I think on a client that is in the same boat there to bite about 150,000 and they would easily qualify for about 250 is just a preference just which preferences Gus so well sour my missing on that something we haven’t really talked about is we talked about what is in a qualifying and the organ to go out there in a talk to one or maybe two and on people think that going to the slices and let an employer credit will hurt their credit so maybe we should… Yes so I call at the it’s one of the biggest myths of a mullet Tyler switchover to the Facebook fever quickly can see some comments but okay every single day have a conversation with somebody and they say lottery talk to another lender and they were told qualify for and I going to a credible because my scooter drop truths or not Tyler fiction fiction fiction fiction is what that is slowing time because attorneys were under don’t shop right on this. It’s a scare tactic it’s a sales tactic the people say don’t get your credible by another lender your school drug dramatically Tyler what nature score dramatically messing up your credit not Nielsen data that’s what’s can make short of having another inquiry on your credit from a lender or two is not going to make your credit score drop dramatically here what happens you go into ABC lender they say hey buddy regards you Tulsa hey I know you have a 781 credit score which is like perfect but don’t we try to pull anybody else because your score drop shadow 780 LBO to get you that good deal right right they want to shop or let’s say you have some eye to bad credit bill citizen think Tulsa hey man geez to your lucky I barely got you qualified but I don’t want you to scribble by males discourse popular drug dramatically its malarkey and so here’s the truth of all of that if you’re credit scores pulled by a tulsa mortgage loans lender today and another wonderful tomorrow and another blunder pulls at the next after that in 30 days from when that first inquiry happened they’re going to take all those inquiries are available to get around, as one wiry that’s right one inquiry it’s happening a that airborne the little crazy you little out of you can’t you can’t stop the airport boat that’s what happens a spicy hot records that the spicy hot sauce that the spicy hot sauce we more questions coming in from from the Facebook feed their bro Rob napkins that he likes this I’ll drop you robs a tulsa mortgage loans guy at
they got there for no into Florida so they Rob yet what we try to have fun and here Tyler let’s recap for everybody soap making application to a lender making sure that when you make that application that the information included in that application is accurate because I’m going to find out so don’t try to hide it from your lender is can happen what credit qualifies about credit Co. wall flying is about what I’m if the question is looking to go and we are saying we’re all of it is you can dilute you to listen credit qualifying visit me credit qualifying continues to Google Earth LaBarge Esquivel I need a new cohost his military ice phone we talked about credit qualifying qualifying about maybe get the to be determined underwrite maybe having underwriter look at your credit heaven under a look at your income to make sure that you are certain that you can buy a house and a ton that you’re only mistake 1 euro to make today the scinto meaning he’s messing with us that he wanted to set and then we talk about how to make sure how to know how much how she qualify for digging up to that Tyler is a clear before you talk to wonder talking to talk to a lender talk to talk to lender about what you qualify for and you’ll likely find out that it will be a fun exercise to go through and see what you qualify for but you will probably dial that down because a lot of people qualify for more than they want so on a hit this think is at its is careless and I think I don’t know to play I careless whisper but I think it if you don’t know what you qualify for a friend in your being careless him him so anyway that’s the story for that totally what we when we miss it on our art are three things that Lisa that out know that the other point was get your credible by another lender you and how that doesn’t dramatically drop your score so just where that guys that is not true so don’t be afraid to shop around and get some rates and information from multiple lenders because that will make sure that you get the best possible deal and if you do that you will see that Steve and totally concepts has the best Tulsa mortgage loans available to anyone ever out there ever ever ever ever and with that will see you at the next podcast folks

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