“The perception that no one is getting loans today is over blown and is referring to those with low credit scores and small down payments”, First Meridian Mortgage Branch Manager Jack Buchler tells TLS. “Those with a decent credit score (680+); income and assets are getting approved. Banks must loan money in order to stay in business they are just not taking the huge risks they use to.”
With the rates at record lows, many are seeking to either take out a new mortgage or refinance their existing properties, but fear they’ll never get approved. Buchler says, it’s not the case.
“The mortgage process is definitely more difficult than it used to be”, says Buchler, who has been in the mortgage business for close to 15 years. “However, with the proper planning, one has a good chance of getting approved”.
“The average time frame from contract to closing is 45-60 days and we assume they spent several months prior to that searching for the perfect home. That leaves a good few months time to work on a mortgage”. It’s strongly recommended to receive a pre-approval so one knows they can obtain a mortgage prior to searching for a home.
What factors should be looked at when applying for a mortgage?
“The 3 most important factors to a mortgage are; credit, income and assets”, Buchler says. “One must start with the credit; there may be derogatory credit that can be removed, minimum credit that can be built up, and balances that can be paid down in order to enhance ones score”.
“The second item would be income and there are several factors to consider. If one is using his own income to qualify he needs to consider income stability, when and how to file a tax return. Another option would be a co-signer (father, father-in-law etc…). For self employed borrowers there are also several programs that will consider stated income.
“The next item to consider is assets, which needs to be seasoned for 2 months (in most instances), and they can also come in form of a gift from a close relative”.
For any questions regarding your mortgage process, Jack Buchler can be reached at 732-905-9600.
I agree First Meridian Mortgage always gets the job done!!!
This article is many times more accurately written then last weeks “doom of gloom” report.
The mortgage process is difficult but from past experience “MERIDIAN” makes it look easy.
Yaakov Buchler is the consummate professional. I used him and he did a great job!
I used Yanky and he closed my loan-a loan that first went to two other mortgage brokers. The process was very smooth.
Thank you so much for all your help.
What a mentch! Thanks to you, I am in my house! Keep up the good work!!!
Very honorable person-even when it comes to money. I would use him again in a heartbeat.
If he can’t do it, no one can!
Jack Buchler deserves everyones business. He is qualified in more ways then one, knows the mortgage business well, and tops it off with his great personality. It’s fitting for him to gain this positive publicity as he works so hard to get it done right, allowing people to enjoy their new homes as well as save them money in their refinancing.
Jack is the man!!! He gets the job done…. When my mortgage closed he sent me a kugel and it was delicious!!
Great Picture, looking great!
Hatzlocho R’ Yanky! If I would buy again I would use you-I can definitely say you know your stuff!
Jack is a man, yes.
Hey i didn’t get Kugel. Jack is the man anyway. Thanks to him I’m in my own home.
Wow !! Great article. My credit is over 700 & I got turned down. & I have
assets & income too. I’m gonna call him !!
My 2cents
I bought my home went to a few people and the one and only J Kamenetsky did the deal. Great person , nicest guy and real profesional at JMAR.
Jack is a great guy!!! He works with a great team! I personally have worked with one of his associates Yonesen Reichenberg and it was a real pleasure. Professional and courteous, he got the loan closed in no time. You guys are GREAT!!! GO MERIDIAN!!!!
I used him a few x. He’s mamesh awesome. V/ smart, professional, curteous, knowledgable, sensitive & kind.
Can I also get free advertising????????
Much gratitude to Jack and his efficient staff at First Meridian. I guess the secret is out now. Go First Meridian, a mortgage company par excellance!
I would recommend Meridian any day. They are #1.
They get things done even without being on the Township Commitee!
Go Isaac!
A piece of potato kugel – $3
A gift card from your local bank -$25
A free keychain at closing – .30 cents
Using Jack at First Meridian = Priceless!
If he can’t get it done nobody can. Yaakov has worked with clients that have difficult credit history and is in position to assist.
Very Discreet
Very Professional and
Very Available
Jack is also a talmid chochom and coordinater of the highly sucessful daf yomi shiur
Jack great pic u look amazing !
Yanky is amazing!!! We went to yeshiva together and he is a massive talmid chcochom,
Jack Is A realGREAT GUY! He knows so much about the mortgage buisness. As a competitor i always call him for advice.