From my nearly 15 years of being a home loan officer, dedicated to partnering with clients to secure the loan they want in need, I’ve come across several common mistakes. Here are five common mistakes made by home loan borrowers and how to avoid them.

#1. A lender is not a service provider; they are your partner.

Home loan officers operate differently than service providers you work with on a daily basis. Lenders only make money if they secure a loan for you — so it is in their best interest to secure your loan. You need to work together and become a cohesive team to secure a loan. Treating them like a service provider is not a winning approach.

#2. Lenders don’t always know what will best fit your needs.

Each lender is unique. Some are inexperienced, while others are merely good salespeople who are only competent in getting your business, not delivering what you need. They might not be good at securing the best loan for you or providing the best service or most accurate details, but good at securing a loan, regardless of if it meets your needs or not. .

#3. Don’t let the loan officer interview you; understand that you are there to interview them.

Would you hire a financial advisor who doesn’t have money? Would you hire a defense attorney who has no trial experience? Then why not be just as specific with choosing your loan officer? This person will be guiding you in the biggest financial investment of your life. Make sure they are qualified.

#4. More than the rate matters.

Your mortgage loan rate is a single piece of data. The rate should be one of the core pieces of information you consider, but not the only piece of information you consider. You must have a prepared list of questions about what you need to know so you can be engaged in the borrowing process.

#5. Pre-approval is not success.

Far too often, pre-approval is seen as a success in the process of securing a home loan. But there are still obstacles to face and overcome to close a loan. It is the job of your lender to have the foresight to see the challenges early enough to either avoid them or have a solid Plan B to navigate any obstructions. Especially if you’re a new, first-time homebuyer yet to know the steps to buying a house, it’s important to know the steps and what pre-approval does and doesn’t mean.

Thank you for investing your time in learning how to achieve Mortgage Peace. I have seen this information guide home buyers and investors to save time and money while closing loans that they benefit from. Have questions for me? Call the Office at 985-300-LOAN or check out my websites: www.WeeksTeam.com and also www.StephanieWeeks.com.    

A lot of problems arise because a consumer doesn’t understand what’s happening behind the scenes of getting a mortgage. My mission is to change that! 

Understanding that process, the timelines, and the guidelines more accurately can help you with a smooth and on-time closing.

Since less than 50% of mortgage applications get to closing, I’ve created a list of my 10 commandments of what to do and what not to do while in the mortgage process.

1. Do not buy a car when you are in the process of getting a home mortgage unless you plan to live in it.

2. Do not change positions at work, especially don’t go from salary to commission or salary to bonus. The best thing to do is not make any changes while you’re in the mortgage process. Be completely frozen if you want to go to closing.

3. Do not finance anything while you’re in the mortgage process. I know it’s very tempting to get your refrigerator or to get your washer and dryer, but that could end up in a last-minute loan denial. It’s best to wait till after closing.

4. Do not change bank accounts during the process. I know you may be moving from state to state and need to move to a new bank, but do not do that! It’s difficult to paper trail and it can cause a time delay and definite issues with your loan.

5. Do not close any accounts while you’re in the mortgage process. It can actually change your credit history, your credit timeline, your number of trade lines, as well as your credit score, and it could cause a loan denial.

6. DO follow exactly what your loan officer says, exactly to the T!

7. Do not stop paying your bills. No matter what is going on, make sure you continue to pay every bill on time.

8. Do not decide to become unemployed during your mortgage process or decide to change jobs.

9. Do not max out your current credit cards or do not apply for any new credit cards while in the mortgage process.

10. Do not co-sign a loan for anyone while you’re going through your mortgage process.

If you follow these ten commandments, you will be on your way to an on-time closing.

And if you want to learn more information on how to get through the mortgage process with an on-time closing and how to choose the right loan officer for you, pick up a copy of my book, Mortgage Peace.

Mortgage Peace on Amazon

Mortgage Peace Audiobook 

Not having your phone what-so-ever or in any capacity for 2 days except for checking once or twice for emergency reasons, and then turning it back off completely is phenomenal! While a little bit stressful, overall absolutely phenomenal. It is amazing to just totally disconnect. When is the last time you have done that?

Another fun fact! It is amazing how long your battery will last when you’re not on your phone every 15 seconds/10 million times a day! So, the other thing I learned is that if you just have your phone for emergencies and you’re not on it 24/7 the iPhone battery lasts at least 2 days.

You can meet so many amazing people! So many amazing women from so many different walks of life. The stay at home mom, the yoga instructor, the architect, the doctor, the yoga studio owner, the musician, the talk show host, different business owners, etc. Just so many different amazing cool people to meet.

It was really, really, really sweet! We had a schedule to wake up about 7, yes, I will say that again, that is 7 am, on purpose I know right! So, she woke us up at 7 am by playing the gong or by playing her flute, it was a super beautiful melody to wake up to in any or either instance. She was a blessing!

The next thing: I definitely have confirmation that I have OCD, which the first step is admitting you have a problem, right, and then working on it. So, the way my OCD came up that would be… Well there …. Ok fine.

If I’m being honest, are several LOL…

1. 1.) Apparently, even though people will be barefoot for yoga they don’t necessarily care about cutting, manicuring, and or painting their toenails. Those three things which drive me crazy, I know it’s ridiculous, don’t make fun of me! I’m weird! it’s cool, I know. So, I must be the only one crazy obsessed with that! Like if I’m not painting my toenails, or they are super chipped or something, I am not exposing my freaky little toes! Hahahahaha
2. 2.) The next thing that had a big effect on my OCD…. very interesting…. very fun…. very cool … and well obviously I have an issue! Which I know that I have an issue considering even my pajamas at night have to match. OCD much?!?! Yep! My OCD kicked in when almost no one’s outfits matched. How liberating that it didn’t bother anyone. It was cold and we had to wear layers. Everyone was just free-spirited, free flowing, wore whatever was comfortable to them regardless if it matched in any way, or not. That is awesome! And for that, I admire those people, and I will work on myself to not be too ridiculous with my forms of OCD.
3. 3.) So imagine you have these 3 buckets out with soapy water in them, and you put your silverware in the first bucket. Then the second bucket is where you pre-scrubbed your plates, and the third bucket is where you rinsed it, OMG I am cringing now as I am thinking about it. That was such like UGH! When I wash dishes at home! I do not fill the sink with water because the water gets so dirty and gross. I don’t want my hands in it. It’s like swishing your hands around in vomit pretty much. But here I had to put my hands in dirty water with all kinds of left-over food, not so much fun but again me being weird and ridiculous, and it was very do-able, even though it was disgusting to me and no one else of course. #Don’tJudge

And the fun continues, News to me: apparently, I am very much a coffee snob! I said it, I said it out loud, I have admitted it and it is the first step! I am a coffee snob. Shout out to Nespresso and shout out to Nescafé because I just cannot deal with coffee besides those two! To me, it is literally just like flavored water and I just don’t understand it. The joy in drinking coffee that is so fulfilling to your heart. Thick, warm, strong is my preference!

Then the next thing that I learned about, “Seva”What does that mean? Well, I learned what it means, working meditation. So, on this retreat everyone cleaned up behind themselves. We made our beds, vacuuming our floors, we cleaned the toilets, we cleaned the shower, everybody pitched in! We picked up after the meals, we wiped the tables off, picked up the placemats. So that was neat. We pre-washed all of our dishes that way the person washing the dishes did not have a big gunky mess to deal with. I like this because it made me think. As we clean and wash and do our daily chores at home and take care of our families, we should view it as a mindful, working meditation. It is a blessing, an honor, a gift to serve those we love! I think sometimes we take that for granted. Perception is everything. Right?

I also learned about my first yoga retreat. 3 hours of yoga practice is a little much for me. I love yoga! Love it, love it, love it. I have been practicing for almost 20 years and I absolutely love it! An hour and a half yoga class, no big deal, love it, wonderful, invigorating, peaceful, calming, energizing, such a combination of so many wonderful things. This retreat there were 2 or 3 sessions of 3 hours at a time. My mind is too busy for that I just can’t do that, it was too much. I am super happy with an hour and a half to two hours.

I was very proud of myself for my meditations, which I have also been practicing for about 20 years. More so, in the last 10. It used to be near impossible to meditate for nearly 5 minutes, and I realized on this retreat that I can meditate for 45 minutes without a problem, like the blink of an eye, it’s crazy how fast it goes when you build up that kind of tolerance. I Love It!

So, I learned during my yoga retreat, I need to work on my OCD. I also really enjoyed the retreat and I will absolutely be doing more!!!! Have you been on a yoga retreat? I would love to hear about it! Leave a comment below or message me.

Those 2-3 lenders take care of your clients like they’re VIPs, right?

You might think so, but here’s a little something to think about.

A recent study found that only 21% of mortgage lenders tried to call the customer within 24 hours of the initial inquiry.

That means 4 out of 5 lenders are letting those hot leads sit for more than a day before they can be bothered to call them back.

Yikes.

Take a Little Test

Do a little ghost shopping.

Ask a friend or family member to contact your favorite 2-3 lenders and tell them they’re thinking about buying a home and see how quickly each responds.

You MIGHT be surprised what they report back.

Then, ask your favorite 2-3 lenders what their automated follow up systems look like.

Ask them what platform they use for automated follow up and for a copy of their automation texts & emails.

I’m willing to be that you WILL be surprised what they say.

What You Deserve

A referral from a Realtor deserves to be treated with a high priority. Much more so than a lead from a website or Facebook ad.

Why?

2 reasons…

#1 is because of the relationship. We want to do business together for a long time, so that means prioritizing your clients over other activities. It’s a business decision

#2 is because your referrals are better qualified than some web or Facebook lead. So why wouldn’t we drop what we’re doing to work on those first?

It’s sales 101.

But lazy loan officers just don’t get that.

My advice: Trust. But verify. And don’t settle for less than you deserve, which is THE BEST!

Nothing is more heartbreaking than getting through the entire loan process only to find that a simple mistake (or 7!) made by none other than yourself, cost you your opportunity to become a homeowner.

We see it all the time and we’re here to help because sharing information is caring!

You know you need a clear trail of money & verified documents in order to get the home you want. What you probably don’t know are these 7 all too common mistakes that can get in between you and your dream of homeownership:

These mistakes are easy enough to avoid once you’ve been made aware so don’t let any one of these happen to you!

Click Here to view the 7 Things Guaranteed to Sabotage Your Chances of Moving into Your New Home document and share with a friend who is in the market or currently in the home buying process!

Contact Us

The first and most important step of buying a home is getting educated about the mortgage process. Click Here to check out Stephanie’s book Mortgage Peace! You’ll learn everything a borrower, realtor and or investor would want to know about how to get a great mortgage without the hassle, problems or drama in under an hour.

Or CONTACT US! We’ll be happy to walk you through the process and ensure that you won’t become one of the unlucky would-be homeowners whose dreams were sabotaged by making any of the 7 mistakes above!

Do you have goals and dreams?

I’d love to hear what they are!

Some people don’t realize that goals & dreams are NOT the same thing.

A dream is something that makes you happy… an idea or vision of something you could have, do or achieve. Maybe by yourself or maybe with others.

But a goal – that’s different. A goal is a dream with PLANS.

This year, I finally committed to changing my big dream into a goal. I want, no, I desire to be a guest on the Ellen Degeneres show, but probably NOT for the reason you’re thinking.

Sure, I’d like to meet Ellen just for fun. After all, she’s a NOLA girl with a huge heart and even bigger personality. Who wouldn’t love that?! Or that she’s REAL and she honors her heart and feelings even when it may not please the masses.

But the REAL reason I want to be on The Ellen Show is to reach my goal of changing the lives of 1 MILLION PEOPLE this year.

Yes, 1 million!

And I need Ellen’s help, and YOUR help too. Together we can change the world!

You see, every year more than 20 million people inquire about a mortgage loan. Yet only 7 million close each year.

That means roughly 13 million people a year having their dreams of home ownership tossed by the wayside. This is heartbreaking!

I want to change that for 1 million of those people. I want to share my knowledge & passion to help 1 million people realize their dream of homeownership through knowledge awareness and education.

So as a guest on the Ellen show, with her influence and my knowledge to help spread the word about how more people can own a home by downloading my book Mortgage Peace, even if it’s for FREE.

My knowledge. Ellen’s reach.

But it’s still not enough.

I actually need YOUR help.

How, you ask?

Stay tuned. I’ll be reaching out mid-March with a specific favor to ask.

That way you can do your part to help 1 million people own a home for the first time!

Mark your calendars for March 14th. I’ll fill you in then

I’ve been fortunate to be a guest on quite a few TV shows & podcasts over the last couple of years since launching my book Mortgage Peace.

It seems like no matter what platform I wind up on, there are 3 things that just about everyone’s audience is interested in.

The reason? It’s a numbers game.

In 2018, roughly 20 million people applied for a home loan in some form or fashion, whether it be through a full application or just a credit inquiry.

The problem is, only about 7 million of those people ever go to closing.

That leaves 13 million people who wanted to buy a home, but didn’t, couldn’t, or THOUGHT they couldn’t. This is a problem!

Over a 5-year period that’s 100 Million people!

There’s a good chance some of those 20 million people are your subscribers or followers!

So without further delay, here are the top 3 topics almost every podcast audience has been interested in so far:

Topic #1 – Why does it seem harder than ever to actually get a house?

In today’s tech heavy world, you’d think getting a mortgage would be a point and click deal. Sometimes it can be, but most of the time it isn’t. People want to know why it feels harder than it ever to get a house and how to cut through all the confusion.

Topic #2 – What is the overall process like & what can I expect?

The amount of information available today has actually caused more confusion than ever before about what the process is for getting qualified to buy a home. And these days, people are worried about getting the “hard sell” if they actually do apply online or talk to someone.

Teaching people how to shop for a loan confidently is a really big deal!

Topic #3 – How can you trust yourself to get a mortgage you feel good about?

While this might sound a little touchy-feely, the reality is that many people have self doubt or anxiety about whether or not they’ll be able to get a “good” mortgage. There’s a lot of comparing going on these days and even more assumptions being made.

Guests often like hearing a process that helps them feel empowered to make smart financial decisions.

With 13 million people a year trying unsuccessfully to get what is arguably their most important life milestone taken care of, there’s a good chance I can help you connect with them in a meaningful way!

The Weeks Team is proud to announce that as of January 2019, our fearless leader – Stephanie Weeks – joined the cadre of Louisiana Real Estate Professionals who have achieved the status of Certified Military Housing Specialist.

She is personally committed to changing lives and making things better for Military Servicemembers & their families.

Congratulations Stephanie!

Are you Eligible for a VA Loan?

Veterans and active duty service members are eligible for a VA Home Loan after having served a set period of time, as established by when they enlisted and the country’s wartime status as that time.

Unremarried spouses of veterans who died in the line of duty or due to a service-related disability are also eligible for VA Home Loans.

Reservists and National Guard members may also be eligible if they meet the department’s criteria.

To apply for a VA Home Loan, you must complete a Certificate of Eligibility (which can be requested by you online or even by lenders like, Stephanie).

Contact Us!

Generally speaking, interest rates on VA loans are lower than for conventional loans.

To learn more, Click Here! Or, if you’d like to get an interest rate quote on a VA loan in Mandeville, Covington or New Orleans, contact us today!

We’ve all got ‘em… soft spots.

Sometimes a soft spot isn’t a good thing. Like when you take it too easy on your kids, or eat too much ice cream.

Other times, soft spots make you feel all warm and fuzzy…

Like when I see the look on a veterans face when we get him or her approved to buy a home using the VA loan program!

Veterans Just Deserve Better…

Veterans do so much for us. Yet they often go unthanked.

After all, they’re doing their jobs.

Thank God for that!

But when you think about it, veterans deserve to have things just a little better.

Like a better interest rate on a home than you can get from conventional loans…

Like a lower down payment, or even no down payment…

Like a monthly mortgage note with no mortgage insurance…

Like a little more flexibility when it comes to calculating income…

The list goes on and on…

2019 Goal of Helping More Veterans

If you’ve been receiving my Letters from the Heart, you know that my goal in 2019 is to be a little nicer and to keep things simple.

Helping veterans get the home of their dreams and save money is both simple & nice!

So join me in the movement!

Should out from the rooftops (or at least on Facebook).

Make 2019 the year every veteran you know takes full advantage of the VA program.

While those who never joined the U.S. military are able to work up toward making a down payment on a home over time, veterans were serving during that time.

They may also starting out in a new field of work post-deployment, reducing their income compared with others who are many years into a career. As a result, may veterans starting out their lives as civilians are at a disadvantage when it comes time to look for a home.

That’s where VA Home Loans come in to help.

Administered by the U.S. Department of Veterans Affairs, VA Home Loans aim to level the playing field for veterans (and active-duty servicemembers after a period of time) on buying a home.

A VA Home Loan guarantees a much smaller or no down payment, waivers of multiple fees associated with buying a home (such as some types of closing costs) and no requirements for private mortgage insurance.

Additionally, a VA Home Loan may also provide veterans and eligible active-duty servicemembers with financial assistance making mortgage payments during times of difficulty. VA Home Loans also include funding for veterans with disabilities to make modifications to a new or existing home.

Applying for a VA Home Loan

To apply for a VA Home Loan, a veteran must complete a Certificate of Eligibility that shows they are indeed eligible for a VA Home Loan.

Eligibility requirements include the length of service (which ranges depending on enlistment date and may be up to 24 months) and the reason for being discharged (if applicable). The certificate can now be obtained electronically by servicemembers using eBenefits, or the lender can request the certificate on its own.

Veterans and active duty servicemembers aren’t the only ones who can apply for a VA Home Loan.

Eligible surviving spouses who do not remarry may also apply, as well as National Guard and those in the Reserve who meet certain requirements and your lender can request this for you.

Things to Consider When Finding a Home

Home buyers using a VA Home Loan can apply to buy most homes or condominiums a conventional home buyer could. A VA Home Loan sets veterans apart in several ways from a conventional home buyer, however.

As the loan is backed by the government, it creates a more favorable situation for the veteran in the eyes of the lender.

On the flip side, many steps need to take place for veterans that other home buyers don’t need to complete, some for which many lenders may not be familiar.

The veteran needs to prove they’re eligible for the loan and that the property meets the government’s established minimum property requirements for a VA Home Loan. Some of the minimum property requirements include proper heating, electricity and roof structural integrity.

These are typical to other housing loan requirements but inspections are administered by the U.S. Department of Veterans Affairs, which tends to be very critical of any part of the home needing repairs or lacking in functionality. However, if you are interested in purchasing a home that you’d like to upgrade, additional funds are available for home improvements in certain cases.

While some common closing and insurance fees are waived for a VA Home Loan, there is a VA funding fee that veterans need to pay (unless you are exempt). Having a Realtor and Lender work with you who understands the paperwork necessary to prove eligibility and the minimum property requirements will make this process much easier.

Last, veterans and servicemembers should be aware of loan limits based on home values in the location you want to purchase property in the United States. In most cases, the maximum amount of the loan is $484,350.

Leveling the Playing Field

Overall, VA Loans are a great deal for all parties involved. It’s respectful toward the sacrifices made by veterans by leveling the playing field after their tour of service completes.

Banks and the housing market get customers that they otherwise would have missed due to the challenge associated with making a down payment.

And the government and economy benefit by placing more people in homes and a domestic situation that will improve their outlook and establish a strong foundation for their lives.

At the Weeks Team, we are proud to work with our nation’s finest in acquiring a home with a VA Home Loan. Our experience with the various documents and processes required for a VA Home Loan make us better equipped to shepherd you through this sometimes confusing process. We also care deeply about military families and ensuring they get the best deal they can on a home.