Everyone’s needs and situations are unique. There are hundreds of different ways we can structure your home loan based on your individual needs. This is why the accurate collection of information is critical. Getting into a loan program that is not right for you, can cost you thousands of extra dollars. During the pre-consultation, our Senior Mortgage Specialists will ask you a series of questions to gain an understanding of your financial situation, future plans and goals. With this initial groundwork in place, we can move forward in the right direction with the confidence that we are serving your needs.
Having the right information upfront is critical in making the best possible home loan decision. Immediately following our pre-consultation, we will give you a packet containing very helpful information about home financing options and our money-saving reports to help you prepare for closing on the best mortgage for you.
When making an offer on the home of your dreams, being a pre-approved buyer will give you credibility and verified buying power. It will also let you know exactly how much you can afford to pay for a home, so you can use your time wisely, looking for the perfect home in the price range you can afford. The pre-approval application process is exactly the same application process you will go through to officially apply for your new home loan. It takes into consideration your employment, credit score, assets, liabilities and income. The application process analyzes the level of risk our lenders would take on and determines if, and for up to what dollar amount, that investor would be willing to loan to you.
Finding the perfect home can be pretty exciting! And working with a knowledgeable Realtor® can help you make important observations, negotiate offers and structure the purchase agreement with your best interests in mind. If you don't have your own real estate agent, your Senior Mortgage Specialist would be glad to recommend a few highly qualified agents to you.
A properly structured home loan will maximize every dollar spent on your home and provide the greatest possible return on your investment. At Grandview Lending, we analyze your situation, and during your consultation we will show you how to make your home loan work for you. Your Senior Mortgage Specialist will provide three to four money saving alternatives customized to your situation. We will also discuss the short and long-term advantages as well as the tax benefits each program has to offer, so you can make your home a solid investment.
Your Grandview Mortgage Specialist will fully explain all of the details of your loan at a comfortable pace and provide copies of all signed documents for your personal safekeeping. At this time we will also discuss the closing costs.
Once you have decided upon the loan program you are most comfortable with, we will lock you into the lowest possible interest rate that you qualify for- to protect your best interests.
The closing is scheduled upfront so everyone can coordinate a convenient time. It is important that all borrowers on the loan be present at the closing. Your Senior Mortgage Specialist will provide you with directions to the closing location.
Protecting your home is not only a good idea, it is a requirement when getting a home loan. Purchasing your homeowner’s insurance early on in the home loan process is highly recommended and appreciated. A good insurance agent can help you protect your investment by helping you choose the insurance that is right for you.
Every home loan transaction will require an appraisal. A licensed appraiser will go out to your future home, examine it and compare it with similar homes that have recently sold in the area. Based on their research, the appraiser will write a comprehensive report and arrive at a specific dollar amount in which they feel the home is valued at based on several criteria. This important step assures the lender that they are not lending any more money than the home is actually worth and can prevent you from buying an overpriced home.
A check of the title records is conducted to ensure that the seller is the legal owner of the property and that there are no liens (a legal claim against a property that must be satisfied before the property may be sold) or claims outstanding.
Every loan application needs to be reviewed and approved by a licensed underwriter. The underwriter essentially works on the lender’s behalf and makes sure the loan meets all necessary guidelines.
The underwriter may request additional documentation in order to approve your loan. In which case, we may need everyone involved in the process to act quickly in order to provide the underwriter with the items required for final approval. If this is the case, we may need to contact you for additional documentation and information. Your timely response and cooperation is greatly appreciated.
Once we have satisfied the requests of the underwriter, we will be given a final approval without conditions. Meaning, your loan is ready to close!
Typically at the closing you will be joined with your Senior Mortgage Specialist, a closing agent for you and the seller, the people selling you their home, and the real estate agents involved in the transaction. At the closing, you will need to sign the documents detailing your new home loan and your ownership interest in the property. Once the documentation is signed and the transaction is complete, you will be given the keys to your new home!