Archive of posts tagged Banking

Is It Time To Buy A Home?

We’re at the beginning of a housing recovery. Everyone is sprinting out of the gates to get into the real estate market. Mortgage loan rates are low. Credit is becoming easier to get. The economy, despite dips here and there, continues on a gradual, upward incline. People are feeling more secure in their jobs. Home […]

How Long Does My Preapproval Letter Last?

Does your preapproval letter expire? What happens if you don’t find a home in a few months? Preapproval letters should include two dates: when the letter was prepared and when the preapproval expires. It should just take providing a couple documents to your loan officer so they can quickly look over your application and provide […]

Loan Commitment Letter

It’s never too early to start! The better prepared you are as a buyer, the better your chances of obtaining that home of your dreams! There are actually three levels of qualifications that a potential home buyer may have after contacting a lender. Please keep in mind that not all lenders may have the same […]

Do different banks need different underwriting documents?

The simple answer is YES! Different banks and lenders may have different underwriting guidelines. This is often referred to as an underwriting “overlay”. Fannie Mae, Freddie Mac, FHA, VA and USDA all have their own underwriting guidelines that need to be followed when a lender is originating a mortgage for any of these programs. In […]

We Got It Done When The Banks Failed!