Rodney and his company are absolutely fantastic to work with. They had everything set up and ready faster than I could believe. They are very thorough and had our seller been ready, we probably could have closed in two weeks. Absolutely amazing. Extremely professional. Fun to work with. Politely reminded us of documents I had missed or had not gone through clearly.
EDWARD B May 12, 2022
Rodney was friendly and personable:) He made me feel comfortable and trusting during a very important and stressful time:) He would respond quickly, professionally and was knowledgeable when I had a question:) He was patient:) I am a question person and ask a lot of questions:) He explained all of my questions so I would understand:) I appreciate all of his expertise and his communication skills:) Thank you, Rodney 😊 I am going to enjoy and love my new abode:)🙋♀️💓✌️
KATHRYN K May 02, 2022
MEGAN C Apr 11, 2022
Rodney went above and beyond with helping us close on the house. He also gave us great recommendations and suggestions when starting out to keep us on track and know what was going on.
Raymond K Mar 21, 2022
Communication was great, very efficient and a pleasure to work with
RODNEY H Mar 14, 2022
Rodney was very helpful, knowledgeable and supportive through the entire process. He made us feel comfortable and confident.
KELLIE H Mar 14, 2022
Rodney takes care of everything, if you think a bank will give you the best rate, you are mistaken. I have done 6 Mortgages with Rodney and never afterwards did I find a better rate. He will save you money.
RICHARD S Mar 06, 2022
Everything was great
Nicholas B Jan 19, 2022
The whole process was smooth. Rodney was very helpful.
JERAMI H Dec 29, 2021
Rodney is excellent at what he does. He makes the financing or refinancing of your home easy and quick.
JOHN L Feb 26, 2021
This is the 2nd time we have used Rodney and his group. The whole team is on it!!! Which is very refreshing when no one understands what customer service is anymore. We appreciate all their hard work and I have already referred people to your company. I hope they call you guys. THanks again!
SUSAN M Feb 24, 2021
Always a pleasure to work with Rodney! This was my second refinance and it went to smooth both times! Would definitely recommend 😀
KRISS L Feb 19, 2021
JILL C Feb 07, 2021
Rodney did a great job with our mortgage! Great communication from step to step! He obtained a great rate for us & really made this super simple for us !!
We appreciate the hard work to make this work so seamlessly!
DANIEL E Feb 06, 2021
Rodney is great at what he does and was always ready and available to answer any questions I had.
CLAY R Feb 06, 2021
Rodney provided sounds advice and was prompt with everything that needed to be done. He provided great insight and helped me get exactly what I needed in lightning-fast time. Rodney will be someone that I would recommend to anyone, including friends and family.
JOHN L Jan 31, 2021
Excellent communication - timely responses.
JAMES M Jan 11, 2021
Rodney was wonderful to work with. He explained everything followed up and made it super smooth.
ANGEL S Jan 10, 2021
As the survey has been done all areas were satisfied and we were pleased
SUSAN E Jan 09, 2021
Rodney was so amazing and easy to work with! He was always available and was very quick to respond to questions, including random questions that came up on the weekends! He made the home buying process stress free, especially for a first time home buyer. I did not know the first thing about buying a home or the process I would need to go through. Rodney was available at all times and walked through the whole process with me! I would highly recommend him to anyone looking to get a home or loan!
RACHEL J Jan 08, 2021
Great follow up. Quick response to our questions. Someone actually answered the phone when we called the office!!!
KATHLEEN M Jan 08, 2021
Right from the start, everything was explained very clearly as to what to expect. Other than signing papers and the normal startup information they needed, the majority of the work was done behind the scenes by Signature Mortgage and Patriot Title. Both are outstanding companies made up of friendly, ethical and efficient people.
THEODORE M Dec 31, 2020
Rodney was available at all times and very knowledgeable about all areas of my transaction. I highly recommend using Rodney for all loan needs!
AMY R Dec 24, 2020
Rodney was very easy to work with and quick to reply. I have already recommended him to friends
RUSHINA A Dec 24, 2020
Rodney was so easy to get a hold of at all hours of the day and always responded promptly!!! It was great as we were first time buyers and had a lot of questions!!
KATHRYN A Dec 20, 2020
Rodney was awesome! Was always available, never had any trouble getting ahold of him to answer any of our questions. He also made the process of refinancing go very smoothly. We definitely will be recommending him to friends and family. The employees of Patriot Title were all so very nice, polite and very efficient !!!!!
KEITH B Dec 12, 2020
Knowledgeable, always able to get in touch when needed. Answered any questions and gave advice.
SETH C Nov 29, 2020
Its so nice to have someone with so much knowledge to help navigate all the things that go along with the mortgage process.I have already given Rodney's contact information to others that are thinking about home financing.
KURT D Nov 23, 2020
Rodney was very prompt and informative. Answered all of our questions and got. Able to UD quickly.
MELANIE A Nov 22, 2020
It’s definitely the level of professionalism, exceptional customer service, and experience exhibited by Rodney Fonte during the entire process. I don’t have enough words to express my gratitude. Refinancing my home was a breeze! Plus, he saved me a ton of money! I highly recommend Rodney to anyone out there thinking to refinance or get a loan. You will be glad you did it!
Thanks Rodney and Signature Mortgage Corporation!
CORINA K Nov 17, 2020
Rodney and Patriot Title made process easy and seamless.
TRACY R Oct 27, 2020
Professional and easy to work with! Highly Recommended!!!
THOMAS J Oct 26, 2020
Rodney was a pleasure to work with. Great communication style, thorough, and complete. Made sure he stuck me all the way through the refi process.
DONALD B Oct 19, 2020
Rodney Was Very Open And Honest From Start To Finish. As A First Time Home Buyer, I Was Very Nervous About Where To Obtain My Mortgage And Who Would Ensure I Ended Up Getting The Best Deal Possible. Rodney Was Very Explanatory About Everything And Made It A Very Educational Experience For Me. Thank You Again!
ANTHONY M Oct 07, 2020
Rodney made buying a house extremely easy during a normal stressful time.
JOSHUA T Oct 05, 2020
Rodney explained everything very well so the process produced very few questions. I am still looking forward to receiving my "Welcome Packet" from Wells Fargo.
RICHARD L Oct 03, 2020
Rodney was amazing in my home deal and is an amazing person and knows his stuff.
BRANDON R Sep 30, 2020
All questions were answered in a timely and efficient manner. The lines of communication were excellent. We have already recommended Rodney and your company to others.
MARK W Sep 29, 2020
I have a very good experience with Rodney! The transaction was fast and very smooth! I definitely recommend.
DAVID P Sep 26, 2020
Rodney was very understanding and super knowledgeable about the whole transaction. I would highly recommend him to anyone that is nervous about buying a house!!
BENJAMIN J Sep 25, 2020
Fast and clear communication and responses, and a great rate!
SCOTT E Sep 18, 2020
Rodney Fonte made our refinancing an extremely easy and seamless transaction. He was knowledgeable in his recommendations as well as timely.
I strongly recommend Rodney Fonte and the Signature Mortgage team!
SCOTT M Sep 16, 2020
He was informative.
MARIE T Sep 16, 2020
Rodney explained everything, multiple times, whenever we had questions during the whole process. The woman at the title company was really impressed when she told us something that Rodney had already told us because most people aren’t given the same notice. It was a pleasure doing business with him.
TIFFANY B Aug 18, 2020
Rodney was very informative and worked very quickly!
JEREMY D Aug 13, 2020
ASHLY L Aug 13, 2020
Rodney was great.
EDWARD M Aug 11, 2020
TRISTAN K Aug 07, 2020
Rodney made the whole house buying process really simple . He explained things so that they were easy to understand!
RUBY R Aug 07, 2020
Rodney is amazing! He makes the entire process a breeze! He explains everything where it seems so simple!
DANIEL R Aug 04, 2020
We are first time home buyers and Rodney was great with educating us through out the entire process. Highly recommend!
TYLER C Jul 27, 2020
Simple and fast!
JANEL R Jul 26, 2020
Rodney kept us informed and made the process easy! I highly recommend him for anyone’s mortgage needs!
DAVID L Jul 25, 2020
Rodney was Very Informative - keeping us in the loop for the whole process...
TIMOTHY L Jun 06, 2020
Rodney is very easy to work with and understanding. Also he knows how to get great rates!!!!
DANIEL C Jun 05, 2020
Rodney is a very helpful resource on mortgages. He is available to answer questions and quickly responds to concerns. He has a good sense of humor and personality, which is unexpected for a mortgage advisor.
COREY A Jun 02, 2020
Rodney was always available when I had a question.
KATHLEEN A May 30, 2020
This is my 2nd refi with Rodney. He is great! He's always in touch, never goes without answering my questions and he's on top of everything. Easy peasy!
RHONDA K May 18, 2020
Rodney explained every step in detail and was always quick to respond!
LISA K May 16, 2020
Rodney always has done a great job for us!
JENNIFER L May 04, 2020
This is our second time working with Rodney. He’s terrific at his job and always provides the best service.
STEVEN L May 04, 2020
Rodney was very attentive and responded very quickly. He made the whole process run very smoothly. I would definitely recommend him to family and friends.
BRYAN S Apr 29, 2020
Rodney was fantastic! I had tried to go through another lender and had nothing but issues. Rodney came to the rescue for us. We had started are loan process in early March and finished in just about a month. This was all done through unprecedented times as well. If you need to refinance your home and need someone that will work hard through your transaction do not hesitate to call Rodney.
Rodney thank you again for making all this happen.
DAVID P Apr 19, 2020
Rodney was fantastic before and especially during the Covid-19 pandemic situation! he was always thoroughly communicative and extremely amiable; however, when the pandemic situation switched into high gear he really Stepped it up a notch as his empathy engine took over. I simply mean he answered simple questions multiple times and he did it with a virtual smile! Many thanks to Rodney and his team, we really appreciated his professionalism and theirs during this extraordinary time!
JERRY G Apr 18, 2020
Rodney was very patient in explaining the process and responsive to any questions we had.
WILLIAM R Apr 17, 2020
We hit the jackpot with Rodney. Rodney went above and beyond to answer any questions we had and made sure we understood the entire loan process. There was no judgment, just advice and recommendations to help us get the loan that was right for us. He is personable and relatable. His communication exceeded every expectation. Our agent was very impressed and so were we.
MICHELE E Apr 08, 2020
Rodney is very professional, knowledgeable and personal all at the same time. He treats you like an old friend that he’s giving the best possible deal to. He stays up-to-date with the latest stock market fluctuations so you can get the best APR for a refi or for buying new property.
KELLY M Apr 04, 2020
Rodney is the man!
JUSTIN P Apr 01, 2020
Saved me money
JOSEPH A Mar 25, 2020
The overall process was very seamless and easy. Any questions that came about were quickly answered with a simple phone call. I have and will continue to highly recommend Rodney and his team.
JARED L Mar 17, 2020
Great to work with Rodney.
Will definitely recommend him to others.
IAN B Mar 14, 2020
Rodney was so informative and helped moved everything along so smoothly.
ASHLI R Mar 07, 2020
Easy closing, good advice. Reasonable costs
JOSEPH R Feb 14, 2020
Rodney made it very easy to get the loan processed over email. Even with my husbands very busy schedule.
ANDREA N Feb 09, 2020
Rodney was awesome! Very helpful and easy to communicate with.
MICHAEL D Jan 21, 2020
Rodney helped us with everything we needed. He was very knowledgeable and made sure we had everything we needed to have turned in that we needed before it went to the USDA. All his hard work and doing everything he could as fast as it came up was the reason we were able to buy our dream home. He was awesome!! We would definitely recommend anyone that was looking to get a loan for a house to see him. Thanks Rodney you are the best!!
KELLY J Dec 27, 2019
Rodney was fantastic! He answered all our questions every time we needed something; and that was a lot. He was friendly and knowledgeable and made our home purchase go smoothly.
JAMIE L Dec 24, 2019
great guy to work with. he stayed on top of everything and was a great help with everything
IAN D Dec 11, 2019
Rodney made buying our home such a smooth process and was always readily available for questions. He always went out of his way to help and was able to find us the best rates to save us the most money!
ALLYSSA D Dec 08, 2019
Rodney went out of his way to accommodate our tight schedule and made the home buying process extremely smooth and pleasant!
VINCENT D Dec 06, 2019
Everything was smooth. Easy peasy. Thanks!!!!
KEVIN L Nov 27, 2019
We want to make your home financing as easy as it can be. With Eustis Mortgage, you can relax while we handle the details.
You can get a loan before you even select a home. A Eustis home mortgage specialist can perform a pre-qualification or pre-approval so that you'll have a good idea of how much you can afford. Once you've found a home, and a seller has accepted your offer, you are ready to move to the Application process.
- You will know the loan amount you qualify for so that you know what home price range to shop
- Save time to narrow the list of homes to ones that fit your price range
- Discover any credit challenges early in the process we can resolve them at the beginning of the process
- Confidently make an offer as soon as you find your dream house
- Sellers will consider your offer more strongly with a prequalification letter over one that is not
- Your agent will ask for this as it improves your chances of getting the house you want
There are no fees or costs to getting pre-qualified, but it is a vital step in the home buying process. Call us today!
Prequalification: This is an overview of your credit profile that is an important step to writing offers for new homes and one we highly recommend. It just means that you have not submitted the documentation that will be required to verify your income, financial statements showing enough assets to close and you have not yet met the underwriting guidelines of the program you are going to select once you find the home of your dreams.
Preapproval: If you have a little more time at the beginning of the process, we always recommend getting Preapproved. A preapproval is the start of the formal application process before you find the property and is more thorough review of your financial position and ability to qualify for a home.
Why get Preapproved for a Mortgage?
- You’ll be able to move faster to find the house you want
- Most of the paperwork will be out of the way so you can close your loan faster
- You will be able to move to the top of the offer stack as your income, assets, and ability to buy has been verified
- Sellers know you will be less likely to have a delay in closing
- In competitive markets, this is another feather in your cap
Buying a house is one of the biggest decisions you will make in your lifetime. Our goal is to make the process as smooth and hassle-free as we can. Understanding the process will give you the knowledge you need to get started.
- Step in Getting Prequalified or Preapproved
You can get a loan before you even select a home. One of our home loan experts can perform a pre-qualification or pre-approval so that you’ll have a good idea of how much you can afford. Once you’ve found a home, and a seller has accepted your offer, you are ready to move to the Application process.
Once you’ve selected a home, your home specialist completes the mortgage application, gathers information about the property you want to buy, and collects personal information, such as income, assets, and employment history. For a complete list of information that you need to provide, see the Application checklist.
Once your application is complete, a loan processor reviews your file and verifies your information. We order a credit report to determine your credit history and credit score. We also order an appraisal of the property.
An underwriter reviews your file and determines whether your loan will be granted and issues the loan approval. The underwriter may request additional information during this review process.
Once the loan is approved, the closing process begins. Our closing department prepares closing documents and sends closing instructions to the title agent. The title agent is responsible for examining the title of the property and working with you for an acceptable closing date. At the closing, you’ll sign papers, pay closing costs, and finalize the transaction. Now it’s time to move into your new home.
Lower Payments*. Consolidate Debt. Pull Cash Out.
*By refinancing your existing loan, the total finance charges may be higher over the life of the loan.
First, start by asking yourself one of these questions.
Has your income increased? Do you need to consolidate debt? Has the equity in your home increased? Do you need money for a major expense? Has your credit rating improved?
If the answer is yes to any of these questions than we encourage you to call one of our home loan experts to give you a refinance evaluation. It costs nothing but could save you thousands of dollars in interest, pay off high balance credit cards, or help pay for college or unexpected expenses.
Knowing your options is the most import part of the refinance decision so Call us today!
¬ As you pay down your mortgage or as home values increase over time, a cash-out refinance allows you to use a portion of your equity and turn it into cash. The great news is you can use that cash however you want. Home improvements, unexpected expenses, college tuition or just to check a destination off your bucket list.
When is the best time to turn that equity into your house and use it as you see fit? That answer is up to you and can be used to fit your current needs.
Some of the more chosen reasons for utilizing a cash-out refinance are to:
- Remodel of you home
- Pay off high-interest credit cards or auto loans, neither of which is tax deductible like mortgage interest
- Help with life events like a growing family
- Bucket List Reduction
- Elimination of student debt
A renovation loan will let you do almost anything with your home. Some loans are used on smaller projects like ordinary repairs or cosmetic updates. These types of renovations loans typically don’t have minimum loan requirements for the repairs or upgrades you want to make to your home. These loans are limited to non-structural repairs with maximum loan amounts around $30,000.
With these types of loan, you can improve things like:
- Repairing or replacing your roof and gutters
- Redesigning your kitchen or bath
- Landscaping or adding a deck
- Buying new appliances
- Getting new windows, doors or floors
- Making your home energy efficient
- Upgrading plumbing, electrical, heating or cooling systems
- Ask a home loan expert (bolded and hyperlinked to find a loan officer)
Need to do more extensive renovation? We got you covered!
We have other programs that are specifically intended to make major repairs or changes to your home. These will have a minimum loan amount but the good news is you can borrow up to the value of your property plus repairs/renovation. Here are some examples:
- Room additions or adding a second floor
- Major remodeling that requires structural work
- Foundation or other structural repairs
- Projects over six months
You don’t have to settle for a house that only has half of the items on your wish list. With renovation loan you can buy in the perfect neighborhood and then get all the items on your list without coming out of pocket. This loan allows you to combine the purchase price of the home and the cost of repairs and upgrades into a single mortgage. No second lien at a higher interest rate required. Other benefits include:
- Get a home in a great location below market price
- Getting a bargain on a home allows you to move to a higher priced area of town
- Get more bang for the buck with a larger home
- Opens up your search area
- Your home fits your taste and family requirements
A remodeling home loan allows you to make your current home into your home for the future. These types of loans allow you to roll the costs of the work you do into one new mortgage. No second lien required, most likely at a higher interest rate. Since this is a refinance, you can also capitalize on lower interest rates, move to a shorter loan term and possibly lower payments.
A fixed-rate mortgage offers an interest rate that is steady throughout the life of the loan. Fixed-rate mortgages offer the security of always knowing exactly what your monthly loan payment will be. The interest on ARMs can fluctuate (up or down) periodically. The interest rate on ARMs offers an opportunity to save on interest costs. However, you are protected from rates getting too high, because a safe ARM has annual and lifetime rate caps, which limit how high your rate may go.
This a decision you must make. Here is one way of looking at the question: If you can afford the payment and are comfortable with all the other terms, it makes sense to go ahead and firm it up IN WRITING. Do not be overly concerned if rates fall after you lock. If your objective is to purchase the property, you have eliminated one uncertainty. If you are refinancing, locking the rate guarantees that you will reduce your monthly payments or be able to obtain cash you need for home improvements or other worthwhile goals.
You can lock your rate at application, while your loan is being processed and approved, or any time shortly before closing.
Eustis Mortgage offers lock periods up to six months on some loan programs.
PMI is required for conventional loans with a down payment of less than 20th of the value of the home. You can avoid paying PMI by making a down payment of 20 or more of the value of the property you want to buy.
PMI will be automatically terminated when the loan-to-value ration is scheduled to reach 78 assuming all payments are current. Borrowers can request cancellation of PMI when the loan reaches 78 assuming all payments are current. Borrowers can request cancellation of PMI when the loan reaches an 80 loan-to-value ratio, assuming the loan is current.
How do I know whether the house is in a flood zone, and if so, how can I determine my insurance premium?
Eustis will order a flood certification before loan closing, as required by federal law. However, if you would like to find out if the property you are purchasing is in a flood zone, you can contact your insurance agent or check the local library for updated flood maps. FEMA determines flood risk by comparing your lowest floor level to flood levels from the past 100 years. FEMA bases flood insurance premiums on this information. You may need to get a slab elevation if you are unable to obtain this information from the seller or your local permit office
Annual Percentage Rate (APR) is a calculated interest rate that reflects the overall cost of a loan on an annual basis. APR includes interest payments, origination fees, discount points, and other specific costs of getting a loan and is, therefore, usually higher than the interest rate. APR can be useful for comparing different types of loans. However, while all lenders are required to calculate APR based on guidelines provided by the Truth in Lending Act, not all lenders include the same costs in the calculation. This can make it difficult to compare the APR for loan programs from different leaders.
Points, also known as “discount”, are funds paid at closing so that you can get a lower interest rate for the life of the loan. For example, you may be quoted a rate of 7.375 with 0 points or 7.000 with 1 point. One point is equal to 1 of the mortgage amount.
Closing costs are expenses paid, by both buyers and sellers, at the closing meeting. Closing costs include pre-paid taxes and insurance, discount points, origination fees, title insurance, and other fees that may apply to your loan.
Pre-paid items are hazard/homeowners insurance, taxes, and pre-paid interest. Most insurance is paid in advance, so you will be required to pay for your homeowner’s and flood (if required) insurance policy for the first year in advance. Also, the lender will require you to make a deposit of up to 2 months of payments in order to establish an escrow account.
Many loan programs require that the lender pay the taxes and insurance on behalf of the borrower. Your loan officer can determine if the option to pay taxes and insurance yourself is available on the loan program that is best for you.
MORTGAGE PAYMENT CALCULATOR
Estimate your monthly mortgage payment using the calculator below. Simply enter the purchase price of the home, loan term, and details about the home loan. Please note that escrow for taxes and insurance is not required for loans with down payments of less than 20 percent. Some of this information may be difficult to determine on your own; please contact a mortgage specialist to review the most accurate monthly mortgage payment for the area you are purchasing.
Types of Loans
Streamline 203K: This is for projects where total renovations do not exceed $35,000. It is more for minor changes like upgrading HVAC, paint, fixing or replacing roofs, patios, septic systems or remodeling a kitchen. It does not allow for structural changes like foundation work.
Full 203K: This for projects that need to be more expansive in nature and may go over $35,000 in total renovations. It can be used for all the repairs from a streamline, but you can also make structural changes and reconstruction, repair or replace plumbing or use it to improve energy conservation, safety or disabled accessibility.
This is a great option when buying a home that needs a little TLC or you want to make your current home into your forever home.
What can a Homestyle Renovation help with?
- In-ground pools
- Interior and exterior upgrades
- Kitchen or bathroom upgrade
Program Flexibility: Conventional loans allow for different terms and down payment. Meaning you can customize your down payment, whether you have a first and a second or if you want to do one loan with Mortgage Insurance.
Program Flexibility: Conventional loans allow for different terms and down payment. Meaning you can customize your down payment, whether you have a first and a second or if you want to do one loan with Mortgage Insurance.
Loan Limits: Conventional loans are capped at a maximum loan amount of $647,250 for single-family homes unless the property resides in a High-Cost Area of the United States.
Second Liens Permitted: Another difference between conventional loans and the other programs is the ability to add a second lien to assist with down payment requirements. This also is a good option when buying a higher price house and need to go above the maximum financing amount in a non-High-Cost Areas.
For loan amounts over conforming limits and up to $3,000,000.
A VA home loan is a great benefit to military personnel during and after their service. Thank you for your service and sacrifice for our country.
No Down Payment: A VA home loan comes with 100% financing. Contact one of our home loan experts for more details.No Mortgage Insurance: Unlike USDA a VA home loan does not have monthly or annually mortgage insurance.
Certificate of Eligibility Required: In an effort to make sure we use your Veteran Benefits properly borrowers must obtain a Certificate of Eligibility . The VA Benefits portal will be able to help you find this information or contact us and we can assist you in getting the info.
Low Down Payment: FHA loans are great for first time home buyers or home buyers that are working with limited down payment. A down of 3.5% is all that is required and can be a gift from a relative.
Flexible Income Requirements: The original goal in 1934 for FHA loans was to make home ownership possible. One way the program does that is by allowing for more flexible income and credit guidelines.
Loan Limits: FHA does have different maximum loan sizes by area. To learn more click on here to see what the Loan Limits are in your city.
No Down Payment: The USDA loan comes with 100% financing. A down payment is not required which can be an obstacle to homeownership.
Low Monthly Mortgage Insurance: The upfront insurance rate on a USDA is generally lower than VA or FHA. It also has one of the lowest annual mortgage insurance fees. Other good news is the upfront fee can be rolled into the loan, eliminating an out of pocket expense at closing.
Only available in certain geographic areas: To get a USDA loan, the property you buy has to be in a USDA designated rural area, but that does not mean it is necessarily farmed land. Over 90% of the U.S. is eligible, which includes small town and suburbs. The USDA Mortgage Eligible Map will show you all the areas where you can use this loan.
Income Limits: The USDA loan was originally designed fro low to moderate-income families. The guidelines for USDA define income level as being 115% of the area’s median income. This income amount if very different in different parts of the country and can be very different in certain areas of a state. Please contact one of our home loan experts to learn more.
- Fixed Rate and Adjustable Rate
- FHA, VA, and USDA Loans
- Jumbo and Conforming Loans
- Conventional Financing
- Renovation Loans
Special Programs for Non-traditional borrowers also available
100% YES! This one decision will make the home buyer process go much more smoothly. The pre-qualification process is simple:
- Gather your personal financial information such as bank statements, W-2 forms and paycheck stubs, and meet with your Loan Officer.
- We will pull your credit report and evaluate your financial documents. With this information, you and the loan officer are able to discuss the best home financing options that will help you achieve your financial and homeownership goals.
- Once you are prequalified, we will give you a prequalification letter to inform your real estate professional and the seller of the property that you’re a preferred and serious potential buyer. This will give more weight to any offer you extend on a property as well as allow you to relax and enjoy the process of looking for your new home.
- How long will you live in this home? Several years, or just a few?
- Do you anticipate your income or finances to significantlychange over the next few years? Do you anticipate significant changes to your income or finances over the next few years?
- Are you either comfortable or uncomfortable with an adjusting monthly mortgage payment? Have you considered an adjusting monthly mortgage payment?
- Do you plan to be out of mortgage debt by, for example, when your children start college or when you retire?
Based on your answers, your home loan expert can discuss different home loan programs that will suit you financially and help you reach life’s milestones.
An FHA loan, on the other hand, is guaranteed by the Federal Housing Administration. FHA is a government agency that works with approved lenders like us.
Typically, origination points are applied and disclosed at the time of locking in an interest rate. On the other hand, discount points can be added at the time of lock or later in the process if you choose to pay to reduce your interest rate.
Origination fees are the fees required to originate the loan. They can include processing fees, underwriting fees, administrative fees, and several others. One of our Loan Officer can give you a complete breakdown of these fees as they vary from state to state.