Page 47 - Network Magazine Fall 2018
P. 47

Another area that is underserved in the Lehigh Valley is our self-employed business owners. They have always been a major contributor to our country’s growth and well-being. Unfortunately, they struggle
to qualify for mortgages in a lot of instances and are turned down by their banks because they do not meet traditional requirements or guidelines. Recognizing this, there are a handful of mortgage bankers out there who will cater to these folks by using alternative documen- tation to source their income. By doing this, we can get a very good picture of their overall creditworthiness, ability to repay the mortgage, and are then able to help them buy a home. We offer similar programs
for investors who are looking to expand their rental property holdings but are ‘maxed out’ in the number of financed properties they can qualify for through conventional financing. These programs are part of a growing recognition of the importance of being able to help everyone who is financially responsible and can afford a home, even if they don’t fit into the metaphori- cal box.
Last, but certainly not least, is our veteran population here in the Lehigh Valley. Eligible veterans are in a
better position to buy a home than most. The VA mortgage program is by far the most flexible and easiest to qualify for. Surprisingly, there are a lot of veterans who do not take advantage of this oppor- tunity. Like anything else, much of this comes down
to lack of awareness and having a reliable source of information that can be trusted. Many new buyers out there, especially millennials, have been misinformed about what is needed to buy a home or to qualify for a mortgage. There are many options to help people buy homes (no down-payment options, down-payment assistance programs, grants, etc.). You just have to know where to look for them.
Basil Leonetti is a Branch Manager with American Financial Network Corp. here in the Lehigh Valley. He has over 20 years of experience in the mortgage and financial industry. He specializes in helping all types of buyers, but truly views working with veterans as an honor and a privilege. Please feel free to contact him directly at 610-442-3331 if you have any questions.

   45   46   47   48   49