Nick Jimerson, Personal Mortgage Advisor with Nations Lending, Interviewed on the Colorado Real Estate Leaders Podcast

Nick Jimerson discusses how to avoid mortgage application problems.

Listen to the interview on the Business Innovators Radio Network:

The path to homeownership isn’t always easy, but by not being careful, the chances of becoming a homeowner could be ruined.

Here are five things that could get in the way of owning a house:

  1. Job-hopping.

A steady job, preferably at the same company, shows stability and—most importantly—a consistent paycheck that will allow someone to pay their mortgage. Even if someone doesn’t go long without a job, hopping from job to job or even starting a business could ruin the chances of buying a home in the near future and present someone with mortgage approval problems. It’s best to aim for two years on the job before applying for a mortgage.

  1. Opening new lines of credit.

When thinking of buying a home soon, it’s best to think twice before purchasing a new car or boat or opening up other lines of credit. It increases debt to income ratio, and even hard credit inquiries can put a ding on someone’s credit report and reduce their score. It’s best to wait until after closing on a home to consider taking on additional credit.

  1. Making late payments.

Pay bills in full and on time every month. Not paying bills on time can wreak havoc on a credit report—just one late payment can lower someone’s score by up to 50 points. If someone is forgetful, it is helpful to use auto bill pay, so they never have to worry about missing a payment to avoid mortgage application problems.

  1. Maxing your credit out.

When multiple lines of credit are at the limit, the debt-to-income ratio skyrockets, and mortgage lenders won’t approve someone for a loan if they’re already maxed out. Avoiding mortgage approval problems by keeping credit balances below 30% of credit limits is essential.

  1. Not saving money.

With many mortgage loan options like the ones offered by NLC loans, people don’t need 20% down anymore. However, money in the bank is a necessary cushion in case someone loses their job or a financial emergency, such as an unexpected repair or medical bill, arises.

Nick says: “Don’t ruin or delay your dream of owning a home with these preventable mistakes. For more information about your mortgage options, or to see if you qualify for a mortgage, contact one of Nations Lending’s personal mortgage advisors toll-free today at 1-888-434-4690.”


About Nick Jimerson

Nick was born and raised in Minnesota, where he graduated with an undergrad degree in Business Management from St. Cloud State University. He fell into the mortgage industry shortly after college, starting his career as a loan processor and growing to become a Mortgage Advisor. His background as a loan processor helped develop his product knowledge and understanding of underwriting guidelines, so he can service his clients at the highest level.

Nick truly believes in listening first and understanding each client’s short-term and long-term goals to ensure they’re placed in the best product fit. It’s extremely important to learn and understand the details of every situation, to think creatively to problem-solve and find solutions, and to communicate effectively so every client and business partner is up to speed at any given moment.

Nick now calls Colorado his home and has been a resident for over 8 years. When he is not working on mortgages, he enjoys spending time volunteering for different organizations and non-profits, assisting as a gymnastics coach, golfing, snowboarding, hiking, camping, and traveling domestically and internationally.

Learn More:

Personal Mortgage Advisor | NMLS# 1626715

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