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Mortgage Lenders

Hey!  My husband and I are in the process (long, drawn out process, apparently) of purchasing our first home.  We've got the house picked out (paint colors too), but the financing from our mortgage guys just fell through.  Is there anyone that you can recommend as a mortgage lender?  Basically what happened is that my husband quit his job as a mechanic 2 years ago to go back to school for business (he was tired of feeling hurt and sore all the time at the tender age of 25).  He looked for a year and a half for part time work while he was going to school & finally found a job with a tire company.  Since he is back working in the car industry, the bank denied us a mortgage since he's in the same industry.  I'm not sure if they're unaware of current economic conditions and/or the fact that the unemployment rate stands at about 9%, but he took the first job he could get, not because he loves working with cars but because he likes to be able to eat, put gas in his car and have a roof over his head.  And because I'm fresh out of grad school with a bunch of student loans, they won't finance me because my debt to income ratio is too high (no kidding...MBA degrees are expensive).  So we were pretty much told "tough nuggies".  Any advice/leads would be much appreciated.
image "Always love. Don't wail til the finish line."-Nada Surf

Re: Mortgage Lenders

  • I don't know what area you're looking in, but we're using Crown Mortgage in Oak Lawn.  Our realtor recommended them.  They're a private company that houses it's own mortgages, so they were able to get us a better mortgage than a huge company.  (Bank of America was only able to give us an FHA loan, but we can get a conventional with Crown)  I just finished my BSN, & have huge student loan debt.  IDK if you're with more than one loan holder for yours, but it's helping for our mortgage to consolidate my loans.  1-2 loan payments a month looks better than the 11 or so I originally had.  I also just started my nursing job when we started the process & had previously worked in healthcare & didn't get a hard time about being in the same industry.  I just need to give them 3 months of recent paystubs.  If you call them, we're working with Jeff Coole.  He's so great to work with!  HTH, GL!

    "Everything will be alright in the end. So if it's not alright, it is not yet the end."
    "She wasn't bitter. She was sad, though. But it was a hopeful kind of sad. The kind of sad that just takes time." The Perks of Being a Wallflower
    Me:28 DH:28 TTC since 1/11 Dx: unexplained IF/early DOR
    Feb'12- Clomid/TI with CD3 &21 labs(normal)& SA-count 6mil/ml,morph/motil OK-BFN
    April'12 Ultrasounds,HSG -clear, slight acurate uterus
    5/14 IUI #1-50 mg clomid-post wash total motile count 19.3 prometrium 2dpiui= BFN
    6/11-IUI #2-100 mg clomid & prometrium post wash count total motile 17.5 = BFN
    7/6 IUI#3 with 100 mg clomid, estridiol, prometrium. post wash total motile count 23.3 = BFN
    8/30IVF#1 BCPs, Follistim, Menopur,Ganerelix,Novarel.
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    ER 12/5-16R, 12M, 8F!
    ET 12/10 5dt! 1 fully expanded blast & 1 early blast. No frosties. BFN
    2/13- Saline sono revealed a polyp. All additional labwork coming back normal. Genetic screen revealed DH has MTHFR deficiency & I am a carrier for it.
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  • Thanks for the suggestion!  I will definitely bring it up with my husband.  What I really need to do is consolidate my loans...call it laziness, but I haven't gotten around to it yet.  Def. this weekend though.
    image "Always love. Don't wail til the finish line."-Nada Surf
  • We got our first mortgage last year through Wintrust, and had a great experience, but the office I worked with was in the city. I really don't know much about what it takes to qualify, but the guys we worked with were very helpful when explaining everything to us. Let me know if you want their info!
  • We used a guy at a place called First Switzerland Financial.  It's at Clark and Belmont but he'll come to you for the loan app and stuff.  His name is Matt and his number is 773-443-6495.  This guy is a fireman and this is his side business.  My DH is also a fireman so that's how we know him.  No matter who you go with you want to make sure you trust them.  It's a scary and nerve wracking process!  
    [IMG]http://i45.tinypic.com/rvg0uh.jpg[/IMG]
  • We were first time home buyers too. We both graduated in 2008 and didn't have a 2 year work history either. We used an awesome guy Named Mark, and while his office is in Addison he is willing to drive to you.
    Anniversary Photobucket
  • I used Guaranteed Rate for my original mortgage and subsequent re-fi.
    Beautiful baby girl born at 34 weeks due to vasa previa.   Finally home after 15 day NICU stay!
  • One of our friends is a real estate agent and when we started looking at buying, he recommended working with the following:

    Arthur Blachno - Mortgage Direct

    847-912-6580

    [email protected]

     

    Jennifer L. Lewandowski - RWF Mortgage, LLC

    [email protected]

    Cell - (847)721-1880

     

    Juan P. Rodriguez - American Street Mortgage Company

    312.376.3760 Ext: 213

    866.370.7146

    [email protected]

    We worked with Arthur and he was great!!

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