What lenders look for in borrowers

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3 Things that All Lenders Look For in Borrowers
Today I'm with Joe Lucas from McLean Mortgage. We will be discussing the top 3 things that lenders look for in borrowers. If you're looking to get financing to buy a home here in Northern Virginia, then this is some great advice for you. Joe recommends these three things if you want to have a smooth and painless financing experience.

Cash: How much cash do you have readily available? This is important for a home deposit. It's also important to know where these funds came from because the lenders have to source your income from somewhere.
Your Credit Score: Credit scores are extremely important because a lender will need to know if you meet the minimum requirements necessary to borrow money.
Income: This may be the most important part of qualifying for a home. You need to be able to make the monthly payments necessary to pay off your mortgage, and your income must show that.

If you can satisfy these criteria you are very likely to be approved for a mortgage loan from a lender. If you would like to know more about this then please do not hesitate to contact me.

As always, consider me your #1 resource for real estate in Northern Virginia!

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When you hire Paul Herrick and his team, you are hiring a positive, helpful partner for buying or selling a home. Paul and his team utilize innovative marketing strategies and strong negotiation skills to get you the best deal possible for your home. Paul Herrick and his team are experts in Northern Virginia real estate and they bring a wealth of knowledge and expertise about buying and selling real estate here.

Paul will work with you to find the right home at the right price for you, including all the neighborhood amenities that matter and all the criteria you have for your ideal home. You need someone who knows this area inside and out to be able to do so. When selling your home, Paul's team knows how to make your house look its best before you put it on the market. They will take care of everything you need, from start to close.

Paul Herrick
Keller Williams
11700 Plaza America Drive
Reston VA 20190
Office: 877-269-9111
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HerrickTeam@Gmail.com

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Burhan - "After working with him, I can definitely say that Paul is the best."

Ginger - "Paul really knows the business and stays focused on the client and what is best for them."

Sumera - "Paul worked very hard to sell our house and he took the time to keep open communication with us."

Alan - "We really wanted to sell our home quickly and Paul really helped us meet our objectives. We set a good price for the home and was able to get it on the market quickly. We actually sold it before our first open house using Paul’s unique tactics!"

Ken - "I have no complaints and I’m happy that we were able to sell my commercial property. Paul was very thorough and he always followed up with me, even when things weren’t happening he would still call me. He was so professional and knowledgeable and if I were to sell another home or anything, I would call Paul, he was great."

Spencer - "He took us through the whole process. We had never sold a home before and he just walked us through everything. He was really good about doing what he said he was going to do. If he told me he was going to follow up on certain time or certain day, he did that. It was really great!"

Avantika - "Pretty much from start to finish, he was excellent to work with and went above and beyond. He was very good at following up and checking in to make sure things were moving along quickly."

Aaron - "We sold the house. It was a pretty quick turnover. Paul did a great job getting the word out. He had to do a lot of back and forth with the contract, because the buyers wanted certain things fixed. Paul did a great job figuring out different ways for us to get those things done without having to hire a contractor. Some things were simple enough that I could take care of them myself. I thought that was very helpful."

Gisela -"Paul Herrick gave us exactly what we needed to get this deal. We had been dealing with another Realtor for almost a year and a half. In a very short period of time, Paul was able to get the buyers for the price that we were requesting. He was right on the money! He was experienced, and he was actually there for us to answer all of our questions. He was able to make the buyer confident that it was a good fit for them. He know what it takes to convince the buyer!"

Douglas -"Even before we signed with him, he helped us understand the market and how everything was going to go down. I thought that was above and beyond. My mom was the homeowner, and she loved his enthusiasm and work ethic. He was the third Realtor we worked with. The rest of them all just said that the market wasn’t good, but he definitely represented. There was a bit of a bidding war, and he got the house sold!"

Jerry -"He listened to what I needed. He showed me what was available at the time, and adjusted along the way. He fed it to me in a way that I could understand. At the end of the day, I was certainly happy with the product!"

Wayne -"I’ve worked with Paul Herrick on two occasions, once to buy a house and then to sell a house. He was very professional. Paul is always willing to go the extra mile and keep me informed on the process. He reached out to the buyers to facilitate negotiations, and he was able to reach an agreeable price. I’ve sold five houses, and I’d say he goes above and beyond compared to most Realtors!"

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What lenders look for in borrowers

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