How do Late Payments effect my ability to get a loan?

 

Joe Niece

American Mortgage and Equity Consultants, Inc

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(866) 829-1997

612-508-4100

 

 

Email Joe Niece

Email Brian Bement

Email Meg Hoeschen

 

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Meet the Team!

Thanks for trusting us with the purchase or refinance of your home.

 

Joe Niece is the team lead and he is responsible for finding a loan that works, determining how to structure the loan that best fits your needs and finding the path that will make the process the easiest and smoothest that it can be.

 

Brian Bement is my right hand man and he is responsible for helping gather your documents that are missing, gathering updated documents, adding any missing information from your loan application and ordering your appraisal. If he calls, texts or emails you , it is important. Please respond to him immediately even if you do not have everything he needs. He needs to know you are working on his request and it helps if he knows what you have and do not have. Brian will do everything he can to make sure that you loan is ready to be sent to processing. He is a second pair of eyes watching for anything that can help the loan move smoother thru processing and underwriting.

Brian works Monday thru Friday 8am to 4pm. He actually works extra hours each week but does not normally work on weekends.

Once you have an accepted offer, Brian will be in charge of receiving any documentation that is uploaded until your loan is submitted to underwrinting. It normally takes one to three business days for Brian to review your entire loan and documents. At that point, he will send email your loan disclosures so you can review and sign. Once your loan documents have been reviewed and signed by all borrowers on your loan, it will be ready for the next step.

Once Brian determines your loan is ready, he will pass your loan off to my processor, Meg Hoeschen. At that point, Meg will be requesting anything that she or underwriting need to fully approve your loan.

 

Meg Hoeschen is the team processor and my left hand woman. She is responsible for getting the loan ready for underwriting, ordering your verification of employments and looking for any red flags that may have been missed by Brian or I. She is a third pair of eyes looking over your loan so that we have the best chance of your loan coming out of underwriting with three or less conditions. If Meg emails you, it is important to answer her right away so that she can manage the timing of your loan in underwriting. Any email from Meg is very important and you should send her a quick email or text back so she knows you are working on her request.

Meg works Monday thru Friday 8am to 4pm. She actually works extra hours each week but does not normally work on weekends.

Meg and Underwriting normally will request, three to five additional documents, explanations and clarifications about your current documents and/or updated documents. This is normal. Meg will receive your loan back from underwriting when it comes out with a conditional approval. Meg, Brian and I will work closely with you to gather any additional information. Once that is done, Meg will re-submit your loan for final approval. Underwriting takes two to four days for the initial underwriting review and one to three days for resubmissions.

 

Macy Backmann is Brian Bement's assistant and she is responsible for helping in any way that is needed to make your loan process easy and stress free. If Macy calls or emails you, it is important.

 

The Loan Process

 

Loan Document Collection

 

Down Payment Assistance Process

 

Locking Your Loan

 

Loan Programs

 

Second Mortgages or Home Equity Lines of Credit(HELOC's)

 

Renovation Loan Programs

 

How credit works for or against you during the loan process

 

Are my Credit Karma or other scores that I get online accurate when getting ready to apply for a mortgage?

 

What to do 6-12 months before you get ready to buy a home

How can a secure credit card affect my credit?

 

How do credit card balances affect my credit score?

 

How do judgements and collections affect my credit score?

 

How do late payments affect my credit score?

 

What is a allowable example of an extenuating circumstance when getting a FHA loan?

 

What is a allowable example of an extenuating circumstance when getting a VA loan?

 

What is a allowable example of an extenuating circumstance when getting a Conventional loan?

 

All About Construction Loans

 

Refinance and Debt Consolidation Loans

 

First Time Home Buyer Programs

 

All About Reverse Mortgages

 

Refinance with HARP

 

Buying a Second Home or Vacation Home

 

What are the waiting periods after a Bankruptcy for getting a mortgage or home loan?

 

What are the waiting periods after a Foreclosure or Deed in Lieu for getting a mortgage or home loan?

 

How to get Tax Transcripts from the IRS?

 

The Loan Process

Refinance and Debt Consolidation

What you must know about Proper Document Collection

How to get Down Payment Assistance

What Type of First Time Home Buyer Loans and First Time Home Buyer Programs are there?

How do I lock my loan?

Loan Programs

Renovation Loan Programs

What Type of Construction Loans are there?

HELOC's and Second Mortgages

Buying a Vacation or Second Home

Who Qualifies for a HARP Refinance?

What is a Reverse Mortgage? What are the different types of Reverse Mortgages?

How can my credit help or hurt me when getting a loan?

How accurate are scores from Credit Karma, Experian, Transunion and Equifax when applying for a mortgage?

What to do six to twelve month before you are ready to buy a home

How do Credit Card balances change my credit scores?

How does Bankruptcy, Foreclosure, Short Sale, Judgements and Collections effect me when getting a loan?

What is an Extenuating Circumstance when getting an FHA Loan?

What is an Extenuating Circumstance when getting an VA Loan?

What is an Extenuating Circumstance when getting a Conventional Loan?

What are the waiting periods after a Bankruptcy for getting a loan?

What are the waiting periods after a Foreclosure or Deed in Lieu for getting a loan?

How to get Tax Transcripts from the IRS?

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