CAN YOU STILL GET A MORTGAGE IF YOU'VE BEEN DENIED BY A BANK?

Can you still get a mortgage if you have been denied by a bank?

If you've applied for a mortgage from a bank, gone through all the paperwork, meetings, and anticipation, only to be turned down, you know how difficult it can be. Getting a mortgage is a big step towards the life-changing event of home ownership.

Whether you live in State College or anywhere else in central Pennsylvania, if you've applied and been turned down for a mortgage from a bank, there are still options you can take advantage of to get a mortgage that's right for you. One of those options is retaining the services of a mortgage broker.

D. Shane Whitteker is the owner and broker at Principle Home Mortgage. They specialize in helping their clients navigate the mortgage process, and work with people who have been previously turned down by a bank for a mortgage.

"Call a broker and see what they can do for you," Whittker says. "There are no guarantees, but a broker may be able to help you when banks can’t."

There are many reasons why a mortgage broker may be able to help you when banks are unable to. According to Whitteker, it’s all about the bank.

"Brokers use wholesale banks, these banks often times have less stringent underwriting requirements,” Whitteker says. “Wholesale banks often take a more common sense approach to underwriting and guidelines.”

If you’ve already been turned down by a bank for a mortgage, the time you lose to the process can be substantial. This is an area where mortgage brokers can help.

“Brokers often times are able to expedite turn times to accommodate clients that have wasted time at a local bank or a retail bank,” Whitteker says.

To learn more about getting a great mortgage in central Pennsylvania, contact Principle Home Mortgage in State College today!