Categories: Loan Application Process

Am I Really Preapproved To Buy A Home?

September 20, 2015

Get Pre-Approved

Today, many lenders are not offering the pre-approval application but pre-qualification option only. A pre-qualification involves a mortgage loan officer running a credit report and looking at your pay stubs and W2 forms and making a determination of whether you should qualify for a program. Caution: This is not a preapproval.... Read More

What Are Closing Costs And Fees?

August 31, 2015

What Are Closing Costs

Many first time home buyers don’t have an idea how much closing costs will be when they purchase a home. Closing costs include loan origination fees, discount points, appraisal fees, title searches, title insurance, surveys, taxes, deed-recording fees and credit report charges.... Read More

Get Your Docs In A Row!

June 18, 2015

Get Docs For Home Loan

Before you apply for a mortgage loan you need to gather your financial information and get your documents in a row. Lenders are more picky about what is needed to process a loan and you need to do some heavy work upfront to prepare yourself for the home buying roller coaster ride.... Read More

Frustrated By The Loan Process?

April 25, 2015

Woman Frustrated By Loan Process

Today, many people are frustrated with the loan process and I have many potential first home buyers complaining about the length of time it takes and amount documentation required to get an approval on their loan.... Read More

Stop! Don't Make A Move

April 7, 2015

Don't Make Wrong Move

Please stop what you are doing now. Lately, I have had several first time home buyers make changes in their financial situation after they submitted their initial loan application which has caused issues on getting approvals on their loans. Here are some NO-NOs to live by when applying for the first time home buyer program: ... Read More

Unexplained Large Bank Deposits May Cause Issues In Getting A Loan

February 24, 2015

Unexplained bank deposits

Many first time home buyers think they can dump money into their bank account without an explanation. They say, "Who cares where the money comes from." Number one, the government cares and lenders definitely care about "mystery funds" being used to purchase a home.... Read More