Prior to shopping for a home you should get a pre-approval, a conditional pre-approval confirms you’re serious about purchasing a home and will ensure you are ready to buy in today’s fast paced market! It will also help you create your budget with monthly payment estimates as well as the estimated cash to close numbers so that you can search within your comfort zone. Having a conditional pre-approval letter makes every offer you present stronger and shows how ready you are to purchase!

We can discuss what programs you qualify for. There may be low or no down payment options available depending on your situation.

A FICO score is a credit score developed by Fair Isaac & Co. Credit scoring is a method of determining the likelihood that bills will be paid by a credit user. Lenders use credit scoring as a reliable means of credit evaluation. The credit scores analyze a borrower’s credit history using factors such as: late payments, the length of time credit has been established, the amount of credit used versus available, etc.

The credit bureaus provide estimates that a “Hard Pull” could decrease your score by 3-5 points but the pull is good for 90 days and is a necessary part of the pre-approval process. If you have “Soft Pull”, such as Credit Karma, those scores may not be an accurate indicator of your true credit score due to the fact they do not have any risk associated. Purchasing a home is one of the larger credit applications and a mortgage credit score is reflective of that.

The Annual Percentage Rate is the percentage of the total loan that is charged in interest on a yearly basis. It takes into consideration fees or costs associated with a loan that are shown to you on the Loan Estimate and expresses them to you as the cost of credit in relation to the amount borrowed. Your payment is based on your Note Rate, not your APR.

The choice to rent or buy a home differs for everyone! We can discuss your personal situation and help you to make an educated decision. A home purchase may provide personal benefits such as pride in achieving the dream of homeownership and financial benefits from the equity you’ll build as you continue to make mortgage payments.

Yes. Keep in mind that Underwriters look at your credit history, your ability, and your willingness to repay the mortgage. We also have tools that can help to point you in the right direction if now is not the time.

Closing costs include items such as:

• Lender Fees: Underwriting, Fraud Review, MERS Fee
• Third Party Fees: Appraisal, Credit Report, Flood Certification, Title Company Closing Fee, Title Company Miscellaneous Fees, Lender’s Title Insurance (to ensure title is clear), County Recording Fees, Realtor Administration Fees

Two weeks before closing:

1. Schedule the closing with the title company agent
2. Contact insurance company to set up a homeowner’s policy to be in effect on day of closing
3. Get a change of address package from the post office and begin notification process

One week before closing:

1. Schedule utility transfers
2. Request certified funds for closing
3. Order a survey if desired

One day before closing:

1. Conduct a walk-through of the house to verify condition is the same when placed under contract
2. Double-check inspection items have been addressed
3. Get certified funds for closing

Photo ID, Certified Funds, Copy of Insurance Policy, and any additional documents requested.

• Paycheck Stubs/LES (last 30 days)
• Federal Tax Returns with W-2 forms and/or 1099s (last 2 tax years)
• Bank Statements (previous 2 months)
• Copy of Driver’s License/Photo ID
• Most recent monthly/quarterly account statements for any:
  • Retirement Accounts
  • 401(K) Plans
  • Mutual Fund Accounts
• Self Employed:
  • Signed 2 year personal and business tax returns
  • Signed profit & loss statement to cover time from previous tax filing year to current
  • Balance sheet

• Last mortgage statement (for all properties owned)
• Last HOA/Condo Fee (statement/coupon book)
• The “NOTE” for the property you are refinancing