Meet Mitch Irwin
I have been in the mortgage business for over 10 years. My success stems from being very good at the basics: credit report analysis, budget preparation to make sure you can truly afford the home (not just qualify), timeline expectations and discussing the pros and cons of your mortgage options. Mastering the basics helps ensure your home ownership process will go smoothly during and after closing.
Over 10 years, I have helped clients buy or refinance all types of properties; but what I'm best known for is being an expert within the family law community. I help divorce attorneys, mediators and their clients address housing and mortgage issues while the divorce is in process. I communicate the lending guidelines to be aware of and determine if one party can afford to keep the home, whether the vacating spouse will be able to buy a home, and what language needs to be in the decree so the parties can achieve their individual goals.
Personally, I live in Hastings with my wife and 2 young boys. I try to golf in the summer and snowmobile in the winter; but more often you will find me pulling the wagon down to the park to watch my boys play!
I look forward to helping with your home loan needs.
Our Mortgage Process
Trust the biggest purchase of your life to our experience. Whether you're on your way to getting your first home, your next home, or a better rate on your existing mortgage, we will walk you through every step of the loan process. Now is the perfect time to get in touch with us and get the personal advice and guidance Bell Mortgage is famous for.
Once you've had all your questions answered and you're ready to start the home loan process, this is what you can expect.
1. Complete our online application.
The pre-approval application asks you questions about the home you wish to buy or refinance and your finances. To process your application, we need financial information about you - your current mortgage or rent, your other loans, your income, your assets, etc. As soon as you've finished the application, we review your request and immediately begin to process it.
2. We'll send you an application package and prepare your loan for processing.
Your loan application will include papers to sign and a list of items we'll need to verify the information you provided about your finances during the online application.
Here is a summary of the forms involved:
- Good Faith Estimate of Settlement Costs - This details the loan amount and all related charges and fees.
- Truth in Lending Disclosure - This lets you know what your estimated annual percentage rate of interest (APR) will be and any other program features that apply.
- Borrowers Certification - When you sign this, you authorize that all the information you provided is correct to the best of your knowledge. It also lets us finalize the process by contacting your landlord, employer, mortgage company, etc. and getting your credit report.
Next, we order the appraisal from a licensed appraiser who is familiar with home values in your area to determine its fair market value. The appraiser visits the property and compares its features, floor plan, lot, etc. against other similar properties in the area. (You receive a copy of the appraisal.)
4. We'll contact you to coordinate your closing date.
After we receive your application package, the appraisal and the title work, we contact you to schedule your loan closing. If you are purchasing a home, we also schedule the closing with the real estate agent. The closing takes place at an approved title office in your area. A few days before closing, we contact you to walk through the final information.
5. Apply now.
Start now by applying and you will be on your way to the most convenient home loan ever! That's all there is to it.
Home Financing Calculators
- Should I refinance?
- How much will my fixed rate mortgage payment be?
- How much will my adjustable rate mortgage payments be?
- How much will my payments be for a balloon mortgage?
- Should I rent or buy?
- Which mortgage is better for me?
- How much will I save by increasing my mortgage payment?
- How much mortgage might I qualify for?
- How much home can I afford?
- Should I consolidate my loans?
Thank you for all of your help. I really appreciate all that you did, especially the follow-up. Thanks for making it so easy to complete. I will continue to refer you to anyone going through a divorce.
Thanks for answering all of our first-time homebuyer questions; I know there were a lot! You were great to work with, and I'd highly recommend you to anyone.
I don't think I would've appreciated all of your knowledge in the divorce area if I hadn't met with the person at Burnet first. Thank you for walking me through this and coordinating things with my accountant to make sure it's in my budget and saving the most on my taxes.
Mitch saved me over $300/month compared to what the other lender I was working with proposed. That's a lot less overtime I'll have to work!
Thank you for all your patience with my repititive questions. My brain is not quite clicking as it should, divorce is so stressful! You've done a great job explaining (repeatedly) and helping piece together our settlement. Thanks so much for everything. You can count on me for referrals anytime it comes up!
Mitch is simply one of the best in the business. We have not only referred our clients and family to Mitch, but have also used him for many of our personal transactions as well. He is experienced, explains the loan process in detail, and is always one step ahead to ensure a smooth closing.
Melanie & John W.
I wanted to start buying investment property two years ago, but all of the loan officers I met with were either too pushy or didn't understand my goals. Mitch is very patient and wanted to truly help me. Now, we've reduced our payments by $800/month and have started buying income-producing properties. Thanks, Mitch!
When a couple decides to divorce, the stress of dealing with financial issues can be overwhelming. As a result, people will often seek expert advice to educate them about their options.
I specialize in helping families transition one household into two. I participate in and support organizations that promote fair and collaborative divorce. I also complete over 30+ hours of continuing legal education per year to stay on top of the industry issues. That is why I can effectively help answer questions like:
- Can I afford to keep the house based on my new income?
- Will I be able to afford a home close to my children?
- Was my credit bruised throughout this process?
- How do I establish individual credit and close joint accounts?
- What is the best way to compensate the vacating spouse?
- Is a refinance necessary to keep the house in my name only?
By coordinating my efforts with all of the parties involved, I provide answers to these tough questions and solutions to appease both parties.
Mortgages and Qualification
With most mortgage brokers, qualifying for a new mortgage can be a challenge for divorced individuals. Alimony and child support payments often adversely affect one's ability to qualify. Payment of these items may affect qualification ratios, while receipt of these payments for less than an established period of time often disqualifies their ability to be considered as income.
My unique advantage is that I lend money that is not restricted to what the normal Fannie Mae /Freddie Mac / FHA guidelines are. My biggest concerns when approving a loan are:
- Does the loan make sense?
- Can you afford the payment?
Most brokers are questioning work history, how long have the child support payments been received, and demanding stacks of paperwork - this leads to unnecessary stress and doubt in your life!
I am of firm belief that divorce is a stressful enough experience and I guarantee to make the home financing portion as smooth as possible. You will not be asked to provide unnecessary documentation or wait days for a returned e-mail or phone call. I welcome the opportunity to make good on this guarantee, whenever you have questions related to home financing.
Prior to making decisions regarding how the marital home will be divided, please be advised of the following facts:
- A "Quit Claim Deed" only applies toward title. Both parties are still equally liable for the loan. The old loan will still appear on the vacating spouse's credit report, and could potentially hurt their credit if late payments are made.
- Creditors do not care what the judge/divorce decree says. If you applied for that account jointly, you will be responsible for payment until it is satisfied (paid in full).
- Refinancing allows the vacating spouse to be removed from the mortgage obligation and title all at the same time.
- Refinancing will enable the occupying spouse to pay out the other party with existing equity, assuming there is enough equity. This eliminates having to tap retirement accounts that may have penalties associated with early withdrawal.
- Sometimes due to lack of equity, severe missed payments during the divorce or not enough income to afford the payment, refinancing is not possible. You may have to sell your property. You may also have a capital gain issue to address.
I provide various services to divorcing families, the most common are:
- New Home Financing - based on your new individual budget we'll determine how much home you can afford and match the right loan to your specific needs.
- Refinancing - most common if you are keeping the house and want to pay-out equity to your ex. At the same time we'll remove them from title and have the loan in your name only.
- Credit Consultation - an in-depth review of all three credit bureaus. We help create a plan to repair in-accuracies, close old joint accounts and establish individual credit.
- Debt Consolidation - an easy way to pay your attorney in full, pay-off credit card debt or other bills and create one low payment that will allow you to deduct the interest on your taxes. (consult your CPA to confirm tax deductibility)
- Budget Creation - together we create and review a budget based not only what a bank considers when underwriting a loan, but looking at all of your expenses to see what it really costs to live.