The first step to purchasing your new dream home is to get prequalified in order to know how much of a home purchase you can qualify for.
Find & Negotiate a Home Purchase
After you get pre-qualified, we will supply you with a pre-qualification letter which will be a very powerful tool to help your real estate agent find and negotiate a purchase for your dream home. This pre-qualification letter will be a very powerful tool which will help get your offer accepted in today’s competitive sellers’ market.
Finance a Home Loan
Once your real estate agent negotiates a purchase agreement for your dream home, we will take over and start the mortgage process and insure we close on time.
Mortgage Prequalification
Know What Price Range You Can Afford
When you get prequalified for a home loan, you will know exactly how much you can afford when purchasing a new home. By working with us, we will be able to calculate a debt-to-income ratio to determine the affordability.
Identify & Eliminate Any Credit Issues Early On
When prequalifying for a home loan, there may be credit issues that you may not be aware of. We will be able to advise you to clear up any issues so you can move forward with a home purchase.
It Will Help You With Negotiating Power
Once your real estate agent knows how much you qualify for, it will help them be aggressive in the home search process and negotiating the best possible price.
It Will Give Sellers Confidence To Accept Your Offer
When your real estate agent can supply a pre-approval letter from us to a seller, it will give them the confidence that you are financially sound and stable and will eliminate any worry that the seller may have with falling out of escrow due to not qualifying.
Mortgage Loan Process
Application
This is the first step that gives us the information we need to help you decide on a great loan option tailored to your needs. It is very important that the information on the application is complete and accurate to prevent the loan from being denied later in the loan process.
Prequalification
You must prequalify for a home loan in order to know how much of a home purchase you can qualify for. This will help your real estate agent for better leverage in negotiating a price.
Documentation
In order to put a loan package together, we will request from you certain documents that must be sent in a timely manner to prevent the mortgage process from being delayed.
Appraisal
The appraisal will be ordered by us as soon as the underwriter grants a loan approval contingency. The appraisal is preformed to insure that the value of the home is consistent with the purchase agreement for a purchase, or the loan amount for a refinance. The appraisal typically takes 5 business days to be completed
Title Report
The title report is ordered by your real estate agent for a home purchase transaction, or by us for a refinance. The title report is intended to show if there are any liens or other problems with the property in order to protect you.
Submission
As soon as we collect all the documents needed for a loan package, it is organized and sent to an underwriter for approval. An approval typically takes 24 to 48 hours.
Conditions
When the underwriter grants an approval, there are usually some conditions. These conditions may be “prior to doc” or “prior to closing.” It is extremely important that all conditions be taken care of immediately in order to avoid any delays in loan signing. Once all the conditions are collected, they are sent to the underwriter
Loan Docs & Signing
Once the underwriter gives the final approval, loan docs will be ordered by the funding department which will be sent out to the escrow company to be signed by the borrower. The escrow company sends the loan docs by a mobile notary to make it convenient for our clients. Loan documents are the mortgage documents
Funding & Recording
Once the loan docs get signed, they get sent back to escrow where escrow packages them and sends them back to us. The funder then checks all the signatures and makes sure all funding conditions are met. Once the funding conditions are approved by the funder, the loan will be funded and recorded.
