Navigating Today's Mortgage Landscape - Central Ohio Real Estate Blog
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Navigating Today’s Mortgage Landscape

The past 4 years have done a number to the process of getting a home loan.

From the buyer’s perspective, the process should go something like this: you give your loan company your financial information, they package it and send it to the underwriter who approves it and sends it back to the loan company who ties up all of the loose ends and closes the loan.

Scott Miller, Mortgage Consultant for MetLife Home Loans gives insight into some of the current hoops one can expect to jump through in the process of getting a loan.

  • Dealing with the underwriter: today’s average loan gets kicked back to the underwriter 3.8 times.
  • Giving information you do not feel is pertinent to the process: for example you may be asked for the address of your credit bureau.
  • Writing letters to explain something within your file: i.e. credit, income, or deposits.
  • Not meeting the closing date: last year 26% of all real estate transactions did not meet their closing date.

In short, due to the in flux nature of securities like Fannie Mae one has to expect the unexpected.

Buying a house is a pretty big deal. Like being born, the end justifies the painful means.


If you are looking to buy or sell a property in New Albany, Gahanna, Blacklick, Westerville, or another Central Ohio community, please contact The Raines Group. We offer professional real estate advice and are happy to help you achieve your real estate goals. Please contact us today via our online contact form or by calling The Raines Group at 614-418-7417.

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