Mike Rankin's Blog

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Mortgage and Lending - ClearPath Mortgage Solutions, Inc. NMLS #1394615 - NMLS # 423279



How Should I Be Paying My Rent?   One area that can be a big help to your clients getting approved is paying their rent in a way that is document-able.   For example: if your client has a Credit Score under 580 and is applying for an FHA loan having 12 months, documenting their rent being paid on...
Seller’s Concessions How do they work and how do I calculate them?   I think seller concessions or seller contributions is an awful term, as it is so misleading.  We all know there is nothing free in life!  At least not free in a home sale/buy transaction.  Seller concessions are essentially buye...
When you think the deal is too small to work on... I recently referred Stu a borrower who was looking for a $50,000 home.  For our area that is very small transaction and doesn’t result in much compensation.  But, a deal is a deal and one client leads to another. Stu took awesome care of my clien...
Who is your ideal client? Here is mine...   I met Jennifer at my office one Saturday morning to help her get pre-approved.   One look at her finances and I knew this was not going to be a cookie cutter transaction.  For starters she was on the deed to her current residence, but the NOTE was in he...
Losing clients is never fun…we have all been there! This week I had four different experiences of losing a client to a competitor.   One specific example:  I helped Sarah back in November of 2013 get pre-approved for a construction loan.  I began her and husband’s mortgage application for a 5% do...
Credit Scores play a vital role in the homebuying process. Do you know if your credit report is reporting accurately? Are there tax liens or judgements against you that shouldn't be there? There is (usually) always a way to fix that! In fact, I helped a client last week raise their score 60 point...
Sometimes it seems like credit is a game. You have to know how to play to increase your score, and to keep it high! Let me share a tip with you.
Homeownership is a huge step in this journey we call life. The decision isn't always black and white. What makes sense for one person, may not make sense for the next. What's my take on "is it better to rent or own?". I'm so glad you asked! I'd love to share with you -- Check out my video below!
Credit Scores DO matter Do you know what yours is? Did you know you can pull a free Credit Report for yourself? Check out how in my video below and give me a call if you have any questions!

Mike Rankin

Mortgage Consultant
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