YOUR TEAM PROCESS
Things have changed a lot in the mortgage industry over the last few years. In the past, the process could have been as simple as signing an application, showing up to closing and you are a homeowner.
Now things have changed and the best way to describe the process is like if you are borrowing money for an important commodity, the lenders simply want to make sure that you can pay the loan back and they want the collateral documentation for verification.
Yes, a big change from past years.
My goal has always been to make this process as smooth and efficient as possible. Now I know, everyone says this, but a long long time ago when I got my first mortgage and way before I was even in the mortgage industry all I could think of during the process was how I wanted this to end and never deal with the mortgage again. So therefore I really do strive to keep you as informed as possible and to make the process as easy as possible.
When shopping for a home it is very important to at least talk to me to go over some figures to get an idea of what you can actually be approved for. This will take all of ten minutes and is painless. The obvious benefits are comfortably knowing what you can afford and feeling secure with the payment.
Real Estate Appraisals
One of the most critical parts of getting a mortgage is the Appraisal. The purpose of an appraisal is to confirm the home value for the lender.An appraisal is a professional estimate of the value of the property that you are planning to purchase.According To Wikipedia:Real estate appraisal,
Credit is one of the most important components in the mortgage approval process.Lenders look at a borrower’s credit score, number of open accounts, payment history, type of credit borrowed and a series of other factors when determining what level of risk to assess to each lending scenario.
Do’s & Don’ts
While you are considering the purchase of a new home or exploring refinancing your current home, you should not do anything that will have an adverse effect on your loan from this point through the rest of the process. Click below to read about our Top “Do’s and Dont’s” we feel are important for you to know about during your loan process..
Mortgage Approval Process
Whether you’re a First-Time Home Buyer or seasoned investor, the mortgage approval process can be a slightly overwhelming adventure without a proper road map and good team in your corner.Typically when you are searching for a home a listing agent will always ask for a pre-approval. Being prepared is always a good thing.
The home buying process is full of paperwork, important dates, contracts, market movements and checklists that can even overwhelm seasoned real estate investors.One of the main reasons to make sure you’re working with a professional real estate buying team is the fact that you get to lean on their combined experience to ensure…