How to handle homebuyers who don’t qualify for a mortgage

With the right approach and advice, being the bearer of bad news can be an opportunity in disguise
  • The U.S. average credit score is 687, well under the 741 average had by mortgage borrowers in Q1 2017.
  • Although it’s difficult to be prescriptive when helping buyers restore financial credibility, there are many solutions available.
  • If you have time, mold buyers into the clients they need to be.

While you may want to avoid a face-to-face meeting, it’s in everyone’s best interest to invest time in discussing the matter. Buyers will appreciate the fact that you put them first even though things didn’t work out, and your commendable bedside manner might inspire them to send friends and family your way.