Financing

While you may find the thought of home ownership thrilling, the thought of taking on a mortgage may be downright chilling. Many first-time buyers start out confused about the process or nervous about making such a large financial commitment.

From start to finish, your lender should make the process easy-to-understand. There are many advantages of working with a reliable, professional lender. Some of their very important services are as follows:

Pre-Approval
A lending professional will pre-qualify and pre-approve you in order to make sure that you are sufficiently qualified for the home you want. This is extremely important in order not to waste time negotiating for homes in the wrong price ranges.

The Benefits of Pre-Approval…
  • You gain significant advantages in negotiating!
  • You beat the other buyers!
  • You get the absolute lowest price.
  • You get the best financial terms.
  • You get the best possession terms.
  • You get the best seller concessions.
  • You eliminate wasted time, frustration and stress!
  • You are pre-approved for your loan in advance.
  • All you need to do is find the home you want.
  • You will know exactly what your monthly payment will be.
  • You will know exactly how much you need for your home.
  • There is never any sales pressure to buy!
Here’s how the mortgage pre-approval works:
  • Our Lender will provide a FREE consultation for qualification.
  • If qualified, the Mortgage Pre-Approval fee is just $25.00-$50.00 (the cost of the credit report).
  • This fee applies to whatever home you decide to buy.
  • This fee also applies to whenever you decide to buy, too!
Here is what Your Lender will need to pre-approve your loan:
  • Mortgage Credit Report from credit bureau.
  • Verification of your employment.
  • Verification of bank account information.
  • Verification of rent/mortgage payments.
  • Our Lender will take care of all these details for you!
Ability to find the right loan at competitive prices They can shop for the best loan and the best possible price. This allows you the freedom to select the loan best suited for your needs at the best pricing without having to shop all over town.

Efficient follow-up and teamwork
Once the transaction has been negotiated, the lender works hand in hand with the other support team members in order to make sure that the loan is approved and funded in a timely manner. Locating and handling any unforeseen situations before they become a problem, and keeping you informed along the way, are all very important details.

A good lender will handle you with personal care and complete confidentiality.

INFORMATION NEEDED AT LOAN APPLICATION
  • Picture ID with proof of Social Security Number(s)
  • Residence address for the past 2 years
  • Names and addresses of each employer for past 2 years
  • Gross monthly salary, base only (list overtime and bonuses separately)
  • Copies of all W2 forms for the most recent previous 2-year period.
  • Copies of pay stubs for current employment (last 30 days)
  • Copies of bank statements for each of your bank accounts (last 3 months) (Checking, Savings, Money Market, IRA, CDs, Etc.)
  • Debt information for monthly payments on Autos, Credit Cards, Loans, Alimony/Child Support, etc.
  • Final divorce decree and papers for any borrower obligated to pay alimony and/or child support
  • Property settlement agreement
  • Self Employed Only – Completed 1040 tax returns including Schedule CProfit & Loss Statement (with 1099 Forms) for most recent two (2) year period.
  • Corporate or partner tax returns for the past 2 years for any borrowers who are at least 20% owners in a a business.
  • Bankruptcy discharge
  • Recorded satisfaction of lien
  • Written, complete credit explanation
  • Social Security benefits letter
  • Rental agreement(s) for any investment properties
  • If You Presently Own A Home Only Loan – information on your current home(s) and a copy of recorded Grant Deed
  • VA Only Certificate of eligibility and DD214′s (Discharge)
  • Payment for credit report and appraisal