Application Process

To qualify you for a purchase or refinancing, we will require essential information such as your name, address, date of birth, and social security number. This information is necessary to access your credit report, ensuring that your Credit, Income, and Assets meet the required standards.

Your credit assessment involves a review of your credit report, which necessitates obtaining details like your name, address, date of birth, and social security number. There are no upfront fees associated with getting your credit report – it’s a service we provide without charge. Examining your credit report helps us determine the range of loan programs you’re eligible for. By assessing your options, we can collaboratively select the most suitable loan program that aligns with your specific needs.

Income is another vital aspect we need to ascertain. Income sources vary widely, encompassing Self-Employment, Sole Proprietorship, Wages, Disability, Retirement, and more. In the preliminary qualification stages, we usually verbally work with the income information you provide. Formal verification generally occurs later in the loan process.

Assets also play a significant role in loan qualification. While some of our loan offerings do not require a down payment, others may need six months’ reserves. Having substantial savings indicates sound financial management and can contribute positively to your qualification process. If your loan requires a down payment, you must demonstrate your capability to provide the necessary funds at closing. Sometimes, gift funds can be counted as part of your assets, provided they meet the essential criteria.

Credit, income, and assets are the primary considerations guiding selecting the most appropriate loan program tailored to your unique circumstances.