Also, before he is able to do anything for you, a loan ofﬁcer must be conﬁdent of at least two things. First, that he is able to get you some kind of loan (which means you’ll need to answer some qualifying questions at the outset) and second, that you are being honest about your credit, income, job history, cash available, etc. All mortgage loan programs have qualifying requirements, and the quotes you receive while shopping around will be based upon the information you provide to the lender. As they say in the computer industry: “garbage in, garbage out.” If you are less than forthcoming about certain issues, you may receive a quote based on a program for which you cannot qualify, or that is not applicable to the type of transaction you wish to do. Then you’re simply wasting everyone’s time, including your own, and setting yourself up for disappointment.
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