Mortgage Trust Inc.
Can a Mortgage broker get a refi approved if the appraisal has not been released and the customers are low inc
We have been dealing with these lenders that we just can’t trust.
No.
A mortgage broker does not lend his/her own money. They shop around to banks. The bank’s underwriting staff have the final say. That said, they often have close relationships and have a good idea if something is likely to get approved.
A mortgage banker would be a different story. They have their own money to lend, but then they usually need to be sure that they can sell the mortgage to re-lend that same money. Again, they have to apply pretty strict underwriting so that they will be able to sell it.
good luck!
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