Category Archives: Lending & Mortgage News

Final Loan Approval. Close Escrow on your new home

Posted on September 21, 2011 by Jerod

Step 5. (Final Approval) Final approval is issued by the lender once the conditions mentioned in step 4 are received. The bank is confident the buyer is a good risk and we are approved to order loan documents. At this … Continue reading →

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Getting a loan for a house

Posted on August 15, 2011 by Jerod

Step 1. (Pre-Qualify with your Loan Officer) Your first and most critical step is setting up an appointment to meet your loan officer. Whether your appointment is with a broker or representative of a direct lending institution, meeting your loan … Continue reading →

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Locking your interest rate for your home loan

Posted on August 10, 2011 by Jerod

Step 2. (Confirm/lock rate) At this stage you are already been pre-qualified by your loan officer and his file already includes your income and asset documentation which should have been collected in step 1. At this stage you have selected … Continue reading →

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Home loan approval process

Posted on August 8, 2011 by Jerod

Step 3. (Processing and Submission) The Loan process works in tandem with various 3rd parties who are handling your purchase transaction. Included with your Real Estate Agent are Escrow, Title, Pest Inspectors, Property Inspectors and Appraisers. Each of these parties … Continue reading →

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Can I buy a home immediately after a short sale?

Posted on June 29, 2010 by Jerod

Yes, it is possible to purchase another home immediately after successfully short selling your home. However, you need to fit the following criteria, and utilize a Federal Housing Administration (FHA) loan in order to do this. The home which was sold short … Continue reading →

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Requirements for a home to be approved for FHA financing

Posted on April 30, 2010 by Jerod

More buyers have been able to purchase homes due to housing prices declining and closing the gap that once existed between household income and home affordability. Thus, it is no surprise that FHA Financing is the most widely used type … Continue reading →

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