Residential
Guide Make no mistake, there’s a lot involved in getting a mortgage loan. You wouldn’t be here on our website if you could simply fill out a one-page application and get the best loan for you closed and funded the same day. Basically, we do most of the heavy lifting for you, so you can concentrate on what’s important – preparing to move into your new home, saving money, or making plans for your home equity check. There are four main steps involved in getting a loan. You’ll see that we’ve made your part in them as easy as possible, and we do all the work! That’s what we’re here for. Step One: Determine How Much You Can Borrow This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, total income and debt, and goals, how much will a lender loan you? We’ll help you through a few different scenarios by asking a few simple questions. Based on standard lender guidelines, we’ll get you a good idea of the kind of loan program and terms you can expect to benefit from most. Step Two: Pre-Qualify For Your Loan This is where the rubber meets the road, and you can save the most money. You supply information about your employment, your assets, your residence history, and so on. We get your permission to run your credit score. When we review all this information, and we’ll give a Pre-Qualification Letter. Handle it with care – to a home seller , it’s like a suitcase full of cash! Your real estate agent will use your “Pre-Qual” (as they may call it) to make the best offer on the home you choose, and since the seller knows you’re pre-qualified, this gives you buying clout! And while you’re picking out the home that’s right for you, we’re busy finding the loan that’s right for you. Step Three: Apply Now! We Make It Easy Once you’ve made an offer and it’s been accepted, it’s time to complete the loan application. With Optimus Financial, it couldn’t be easier, and you can begin it online, right here at our website. When the time is right, we’ll order an appraisal for your new home so we can complete the process. Step Four: Your Loan Is Funded Your real estate agent and the seller’s agent will work together to designate an escrow/title company to handle the funding of your loan once it’s approved. We’ll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you’ll sign everything at the escrow/title company’s office. |