48 Meriden Rd, Suite 1, Middlefield, CT 06455

Why working with an independent mortgage broker is the right choice

Have you been denied for a mortgage recently? Do you have questions about the health of the mortgage industry today? I can help you clear up these mounting questions and assist you in getting that preapproval for your dream home. Read on for some much-needed information.

With the onset of COVID19 our world has literally been turned upside down; businesses going under, the market losing points every day, people losing their jobs and last and most importantly people being infected and taken from us too soon. Where does that leave the mortgage industry and your dreams of purchasing a home or refinancing your existing loan, you ask??

In a nutshell, the current market is volatile. Lenders are tasked with initiating forbearance, making arrangements with borrowers to put-off foreclosure as well as navigate through this to ensure they will have a viable book of business going forward. Today’s lenders are afraid to lend money for the sheer fact the borrower they are lending to may not have job in the near future and will default on their new mortgage. With that said lenders and big banks are tightening their belts on lending, adding to and modifying existing qualifying standards, such as increasing minimum FICO scores and increasing rates to new borrowers.

Being a broker, I have many lenders to choose from. The person who gets denied from a large bank for a lower FICO score may very well be an Elite borrower with my lender. I also have lenders who are specializing in lower than average FICO scores. With increased FICO minimums at big banks, they are turning many potential clients away. I am confident I can help you get into a mortgage that will satisfy your home ownership goals. I am available days, nights and weekends. Please contact me and we will explore your goals.

Vanessa Brown

NMLS# 1328596/Company NMLS# 117273

860-788-7237 Office
860-334-5804 Cell