Your Favorite Lender
Mortgages…it’s all we do!
Mortgages…it’s all we do!
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Some call us miracle workers, others geniuses. We like to think we are a team of enthusiastic individuals.
Getting approved for a loan doesn't have to be hard. At Home Team Lending we have helped thousands
finance their dream home.
We’ve earned an impeccable reputation among local Realtors, New Home Builders, and Buyers in large
by offering great rates, exceptional customer service, and being known as true Mortgage Experts. At
Home Team Lending we are extremely grateful to have the opportunity to assist borrowers with their
home financing needs. We believe that helping and caring for people is of paramount importance in this
business and take pride in educating our clients to best assist them with their short- and long-term
financial goals.
Our unique system keeps all parties informed of the progress throughout the entire process, with constant
updates. We couple good old fashioned hard work with industry leading knowledge and a seamless loan
process, and truly believe in Building Relationships that build business, our community, and ourselves.
Experience the Home Team difference and you’ll quickly find out why we are known as “Your Favorite
Lender.”
There are six distinct phases of the mortgage loan process Here's what you need to know about each step.
Pre-approvals don't take much time. They involve pulling a three-bureau credit report (called a tri-merge) that shows your credit score and credit history as reported by third-party, respected institutions. Within the credit report, a lender can see your payment history (to see if payment obligations have been on-time and in-full) and your lines of credit (past and present).
First, national real estate portals don't have accurate home prices. In fact, Zillow’s home price estimates, called Zestimates, are off by about 8% nationally. The accuracy can drop even further when drilling down to specific towns and neighborhoods. Zestimate inaccuracy isn't necessarily a bad thing, it’s just something a smart home shopper should know.
A few documents are needed to get a loan file through underwriting. Some of the information will be gathered online or over the phone. A lot of it will already be stated on some documents you'll provide, like employer address which can be found on a pay stub. While the list looks long, it won't take much effort to round them up. The lists below will help you keep track. Your loan officer will also indicate which items will not be needed and also help you prioritize which items to send in first.
Loan processors gather documentation about the borrower and property, review all information in the loan file and assemble an orderly and complete package for the underwriter. They’ll open the file and get the following wheels in motion, Order credit report (if not already pulled for a pre-approval), Start verifying employment (VOE) and bank deposits (VOD),Order property inspection if required, Order property appraisal, Order title search.
The underwriter is the key decision-maker. They closely evaluate all the documentation prepared by the loan processor in the loan package. They cross check to see if the borrower and property match the eligibility requirements of the loan product for which the borrower applied. For example, for a VA loan, the underwriter will verify the borrower’s military service.
Documents (everyone in the mortgage industry calls them loan docs) are drawn, meaning they are printed out and sent to the title company (or attorney's office) where the closing meeting takes place. You can expect a big stack of papers.
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