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Why the GRH Loan? What About All Those Other Options? There are a number of loan options out there designed to attract potential buyers. Many are straight-forward and easily processed. Brokers like them because they can finish one and make another. Buyers like them because the process is quick and easy. It usually pays to shop around and there are situations where conventional loans are better options for some people. We offer these loans at Mt. Jefferson Mortgage as well. Conventional loans, however often require customers to fulfill rigid requirements and basically fit into a preset mold. Not everyone fits that mold, and many times disappointed buyers are urged to come back when their circumstances have changed.
You might not "fit the conventional mold" if…
So Why Have I Not Been Offered This Loan Before? We suspect that one reason the loan may not be well know or more frequently offered is that there is a "double" underwriting process. Not only does the loan have to be approved by a lender (bank) under their guidelines, it also has to be submitted to and approved by Rural Development under different guidelines. The Rural Development requirements are unfamiliar to most loan professionals. They are somewhat confusing and ultimately frustrating. Getting a loan approved twice is more time consuming. In other words, some lending agents may have tried and found it not worth their time or effort. Others might want to offer the loan but don't know where to begin.
Joe Duvall has over 35 years experience working for Rural Development actually approving and/or supervising the agents charged with approving these loan guarantees on behalf of the Federal Government. No one understands the approval process or what can and can't be done with this loan better than Mr. Duvall.
What We Know from Experience, and How We Can Help You . . . We know the GRH loan can be an amazingly flexible option. We know the original intent of the guarantee was/is to actually help people purchase a home who might not be able to own one without it. In keeping with the spirit of the original intent, it stands to reason that not all the qualifying factors are completely written in stone. Each applicant's qualifications can and should be considered on an individual basis. That's where we come in! Our relationship and experience with the gatekeepers of the guarantee give them the confidence to work with us to problem-solve ways to help clients in special situations get a guaranteed loan if at all possible. We work closely, and sometimes creatively, with Rural Development throughout the process and know what exceptions can and can't be reasonably considered. Banks don't always realize negotiation is possible with this loan nor do they always understand the circumstances under which legitimate exceptions might be made. Whether they do or not, they seldom have the time or resources to spend on the process it takes to "get it done" on your behalf, especially when there are easier loans out there to be made. We believe this loan is an excellent opportunity. We have the time, experience and resources to work with you individually. We have the ability to do what other brokers can't. Most of all, we enjoy the challenge of helping you "get that loan..." ...That's why this loan is our specialty! If there is a problem with the terms of your conventional loan that may be keeping you from getting the home you want, ask us if we can help.
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Send mail to
jdduvall@charter.net with questions or
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