Ernest Heredia
Loan Consultant
NMLS #: 350571; CA: CA-DBO350571
About Ernest Heredia
Ernest Heredia has been a veteran of the mortgage industry since 1989. Ernest takes pride in backing every transaction with a vast set of resources and best serves clients who value quality, performance and efficiency – including top Realtors, CPAs, attorneys and business managers.
Ernest delivers service excellence through a team approach thereby streamlining the loan process and offers expertise in every facet of the borrowing experience.
In addition to his internal team he also has an extensive network of professionals to service his clients. He is happy to introduce you to a Realtor in your area, CPAs, Financial Planners, Divorce Attorneys, Credit Repair Companies, Commercial Lenders and Appraisers.
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PERL Mortgage, Inc
Equal Housing Lender
Illinois Residential Mortgage Licensee.
NMLS #19186 
Debt-to-Income Ratio: Its Importance When Qualifying for a Mortgage
/in Knowledge Center /by Enzo FiorelloDebt-to-income (DTI) ratio is the percentage of an individual’s monthly gross income that goes toward paying debt such as credit cards, car payments, and student loans. Most importantly, this equation plays a key role in the mortgage qualification process. Here are a few details on exactly what DTI is, and what it has to do […]
Bringing on a Mortgage Co-Signer
/in Knowledge Center /by Enzo FiorelloAfter searching for what seems like forever, you’ve finally found the ideal home. But when it comes time to get a loan, you’re told you don’t qualify for a mortgage. That’s when you might consider getting a co-signer. Here are some advantages and disadvantages if you decide to go that route. You’ll also want to […]
Closing Checklist For Home Buyers: What You Need to Know
/in Knowledge Center /by Enzo FiorelloAs you’re nearing the end of your home-buying journey, you’ll want to avoid any hiccups. Here’s a checklist of tasks that buyers must complete before they move into their new home. The list covers five things that need to be squared away during the few days leading up to settlement. 1. Get final mortgage approval […]
Help Your House Appraise for Top Value
/in Knowledge Center /by Enzo FiorelloAlthough your home has passed the inspection and the buyer has been pre-approved for a mortgage, the property still needs to be appraised for the deal to close. Appraisers are highly important when it comes to the home buying and selling process. Whenever a mortgage is originated—for a buyer to help finance a home purchase or […]
The Top Reasons Mortgage Applications Are Denied
/in Knowledge Center /by Enzo FiorelloFollowing the financial crisis of 2008, lending standards tightened. Over the past 10 years, these standards have become less stringent but consumers are still finding their loan applications are being denied. There are many factors that are reviewed during this process but a few rise to the top. 1. Debt-to-income ratio Often referred to as […]
How Parents Can Play a Big Role in Helping Their Children Buy a Home
/in Knowledge Center /by Enzo FiorelloWith today’s rising home prices and interest rates—not to mention outstanding student loans—young adults who have decided to purchase a house might want to consider asking their families for a cash gift or loan to help make the process more affordable. Below are some ways parents can help their children achieve their dream of homeownership. […]