Your Local Mortgage Lender
Located in Sarasota, Florida
Personalized Mortgage Experience
Dennis Wells offers personalized service and loan options you'll love. We shop multiple lenders to find the best rate and product for you, getting you into your dream home faster.
With wholesale interest rates and cutting-edge technology, we make the mortgage process seamless. Trust the experts who focus solely on mortgages. Support your local community and experience elite client service.
Let us help you achieve your homeownership dreams!
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Experience the best mortgage experience located in Sarasota, Florida.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
Self-Employed Buyers Get Declined by Traditional Lenders and Here Is the Loan Program That Changes That
The Scenario That Comes Up More Often Than Most People Realize
Your client is self-employed. They make a lot of money. Their cash flow is strong and their business is genuinely successful. Their CPA does exactly what a good CPA is supposed to do and writes off every legitimate deduction available to minimize their tax liability.
And then they apply for a mortgage and get declined.
The problem is not their income. The problem is how their income appears on paper after the tax optimization strategy does its job. The number the lender sees on the tax return is not the number that reflects what this borrower actually earns and brings home. Traditional mortgage underwriting uses the tax return number and in many cases that number does not support the loan the borrower is more than capable of sustaining.
Why This Happens and Why It Is Not the Borrower's Fault
Conventional mortgage guidelines were built for W-2 borrowers. The income documentation requirements assume an employer, a pay stub, and a tax return that reflects the full picture of what someone earns. For self-employed borrowers those assumptions break down because the business structure is designed to minimize taxable income and the tax return is optimized accordingly.
The borrower did everything right. They ran a successful business. They worked with a good CPA. They reduced their tax burden legally and responsibly. And the outcome is a tax return that makes them look like a poor candidate for a mortgage they could easily afford.
Traditional lenders have no path through this scenario. Dennis Wells does.
Entrepreneurial Loan Programs Built for This Situation
Dennis Wells has access to entrepreneurial loan programs specifically designed for self-employed borrowers who have strong cash flow and real income but cannot document it in the way conventional underwriting requires.
These programs evaluate the borrower's actual financial capacity rather than the number that appears after a smart tax strategy has been applied. Bank statement programs that use actual deposits to establish qualifying income. Profit and loss programs that work from a CPA-prepared business summary rather than a tax return. Asset qualification approaches for borrowers whose accumulated wealth tells the story better than any income document.
The right program depends on the specific borrower's situation. What is consistent is that a decline from a conventional lender is not the end of the conversation. It is the beginning of a different one.
The Conversation Worth Having
If you are working with self-employed clients who have real income, real cash flow, and a good accountant doing their job the way a good accountant should Dennis Wells would like to have a conversation about how to get those clients into the home they deserve.
The process is straightforward and the programs are designed for exactly this situation. Reach out to Dennis Wells to start that conversation and make sure your self-employed clients are being well taken care of throughout the entire process.
Sources
ConsumerFinancialProtectionBureau.gov
MortgageNewsDaily.com
NationalMortgageProfessional.com
Investopedia.com
Forbes.com
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