What is the first thing to do in order to apply for a mortgage loan? The first thing you need to do is to contact me (your Loan Officer) 909-921-4206. We will talk about your needs and financing situation and we will either start the loan by phone or set an appointment to meet in person. Please provide as much information as you can about the type of property you want to purchase or refinance and answer all the questions honestly, don't be afraid to talk about your financial situation. This will help me find the best possible financing program for you and save you time. The sooner I'm aware of possible problems the better they will be resolved. What documentation will I need to bring to my appointment? It depends on different facts, but usually you will be asked to bring with you an ID card with picture (Driver license or ID or passport). Your Social Security Card. Your most recent pay stubs, bank statements and copies of your income tax returns. What papers will I sign on my first meeting with my loan officer? On the first interview you will usually need to sign only a loan application and some mandatory disclosures. There is no obligation on either part at this point. How to decide what is the best interest rate and type of loan for me? That is why your first interview is so important. When you give me all your information I will know what are the best programs and options for which you have the best chances to be approved. I will consider the purpose of the loan, your credit history and FICO score, your income/debt ratios among other facts so I can shop for the right loan for you. Then, I will show you your options and you will be able to make an informed decision. What is FICO? Your credit history is very important and can help you save a lot of money if you take good care of it. One of the factors used to qualify you is your credit score,also called FICO score. The higher your FICO score the better chances you'll have to qualify for the best interest rates and financing programs. FICO is a number or grade you are assigned base on your credit history. Will I need to pay any upfront costs when applying for a mortgage loan? Most of the times the first consultation is free except for a small fee you will have to pay to have your credit checked. Once you have found the house of your choice the lender will usually collect, in addition to the credit check fee, another fee to pay the appraiser. This varies depending on the type of loan and type of transaction (purchase or refinance). You will be informed upfront and clearly whether this fees apply to your case or not. Call today: (909)921-4206 for a free consultation. |
CGHomeLoans.com
| Carmen G. Gutierrez Many years of experience in the Real Estate and Mortgage Lending Field. Contact your mortgage loan specialist: 909-921-4206 |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| Bi-weekly payments can save you thousands of dollars and help you build equity fast! |
| _______________ Serving the counties of Los Angeles, San Bernardino, Orange, Riverside in Southern California. ________________ |