Additionally, make sure the lender knows about any long-term debt you've paid off since this could help swing qualifying in your favor. This could give you greater qualifying flexibility since the loan may not have to meet strict underwriting guidelines required by outside investors. If the lender says she still can't make the loan, as a last ditch effort, try another lender. You'll have time and money invested in a credit report, appraisal, and other upfront costs, so explore all options with this lender first. It could be that the lender's policies won't allow the flexibility that you need.
Lenders are in the business of lending, and really do want to make loans.
But it's up to the borrower, the agent and the lender to work together as a team to uncover options to successfully navigate the mortgage lending process. N. Discovery Way, Ste.