Help! I Can’t Get a Mortgage!

If you’ve been turned down by a bank or conventional lender for a loan to buy or refinance real estate, you’ve probably asked some questions like these:

– “Why won’t the bank lend to me?”

– “What can I do now that my loan application has been turned down?”

– “How can I get a loan after the bank rejected me?”

– “How can I improve my credit rating?”

These are common questions that thousands of people have found themselves asking during the last several years, and it’s not just people who want to buy or refinance real estate. Small business owners with profitable businesses and great ideas on how to grow their businesses are being turned down for loans as well.

I hate to say it, but I think this is another “new normal” that we’re supposed to just learn to live with. Regulators and policy makers in Washington, D.C. have changed the rules that govern banks and it has caused banks and other conventional lenders to tighten up their lending policies.

But it’s not all doom and gloom. You’ve probably noticed that the California real estate market has been picking up a lot of steam recently, especially the desirable Los Angeles real estate, Orange County real estate and San Francisco area real estate. This means that some people are managing to get loans funded.

However, it can be very tough for first-time buyers or people who took a hit in the last recession, even if they’ve been doing well recently. If you include yourself in this group, you may be asking some of the questions I listed above, so let’s give you some quick answers and along the way offer some solutions.

Why won’t the bank lend to me? Sometimes this is as simple as a low credit score. The standards today are higher than they were before. If it’s not your credit score, it may be that you’re in a line of work where it is difficult for the bank to understand your income flow.

What can I do now that my loan application has been turned down? Some people give up at this point, but in almost all cases, that’s a mistake. In today’s economy, real wealth is only created by building up your assets and for almost all of us, our biggest asset is the real estate we own. You can never get wealthy or financially independent by wages alone.

How can I get a loan after the bank rejected me? First, you can come and talk to us at Evoque Lending. Our entire business is built around helping people get the money they need to buy or refinance real estate when the banks and other lenders say no. We look beyond your credit rating. Our formula is simple: You need to have sufficient equity in your property and the ability to keep up your payments.

How can I improve my credit rating? In terms of getting your credit rating up to a level where a bank or conventional lender will loan you money to buy or refinance real estate, one of the best things you can do is to establish a history of on-time mortgage payments. That’s exactly what you can do when you get a loan through Evoque Lending. We provide shorter-term loans that solve two big problems for you:

– They allow you to complete or even save your real estate transaction, and

– They give you time to prove your creditworthiness to conventional lenders.

We’ve been providing these services to borrowers for more than 15 years. Over that time we’ve developed a system that is fast and convenient. We’ll give you an answer within a day and can get your loan funded within seven to 10 days. We do virtually everything in- house, so we don’t sit around waiting to hear from some far-off loan committee.

But while we do all the hard work, we can’t take the first step for you. If you need our service, please call or drop me an email. I’ll take it from there. And can you do me a favor? If you have a friend or relative that needs our help, please forward this article and our contact information?

I would be extremely grateful, and I think your friend will thank you!