Mortgage 101

Whether you are considering purchasing a new home or seeking to refinance, when you select Integrity 1st Mortgage, you will be amazed at how quickly and simply the loan process moves. Before you know it, you will have a mortgage that suits your lifestyle and saves you money!

Throughout the loan process, Integrity 1st Mortgage will provide you with regular updates about the progress of your loan. You can also e-mail us with your questions or for information. Of course, I am just a phone call away if you need assistance.

Here is an overview of the Integrity 1st Mortgage process:

Step One – Determine how much you can borrow.

Find out how much home you can afford before you begin looking. Once you have answered a few simple questions, I will calculate your buying power based on standard lender guidelines.

Step Two — Pre-Approvals save you money!

To complete the pre-approval step, you will need to supply some brief information about employment, assets, etc. I will contact you for authorization to run your credit report. Once we have reviewed this information, we will issue your “Pre-Approval” Letter which gives you the clout of an all-cash buyer. As you begin looking for a home, we will begin looking for the best loan to meet your specific needs. Your Realtor will use your Pre-Approval Letter to help negotiate the best deal for you.

Important Note: Do not allow anyone to run free credit reports for you. They will need to be run later and this will lower your credit risk score! Your credit risk score is extremely important to your overall credit evaluation in the underwriting process for your mortgage loan.

Step Three — While you shop, we are working on your behalf.

With your Pre-Approval in hand, your realtor will show you types of property that will meet your needs. Meanwhile your Integrity 1st Mortgage team will be working on your total application package to keep everything current. I will advise you on the latest loan trends and products available. Then, I will present you with current rates for the different loan products for which you qualify.

Step Four – Your loan is approved and funded.

Once you locate the home of your dreams, your real estate agent or the seller will designate an Escrow/Title Company to handle the coordination of your purchase. This will include many other matters that relate to your purchase. At the appropriate time, Integrity 1st Mortgage will order a property appraisal for you by one of our approved appraisers of integrity.

Your Integrity 1st Mortgage team will work side by side with each member of your Purchase Team, the listing and selling Realtors, your escrow officer and appraiser. We will be with you up to the funding of your loan and the close of your escrow to make sure your purchase goes smoothly. And our commitment to you does not stop there. After the close, you will be added to our Customer Appreciation Program, and you will receive outstanding items of value each month. We will stand ready to answer any questions you may have about your current loan or future loans, and we are always available for your referrals. They are the highest compliments we can receive!

Simple, Straightforward, Cost effective, and FAST!