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1. Shop around and do your homework – Have Good Faith Estimates prepared by Family Mortgage and other lenders if you like. Compare the quotes using our Loan Shopping Checklist. Review your Family Mortgage quote with your loan consultant
2. Apply and lock your rate for free! – Submit your application online, by fax, or by phone without paying an application fee. Family Mortgage then runs your credit report and puts your application through an automated electronic approval system. At this point you can lock your rate for free!
2. Do the document swap – We will then email or fax you a list we call “Stuff We Need (SWN)” – the required documentation for obtaining the loan. We only ask for what’s absolutely necessary, NOT “everything-just-in-case.”. Once you’ve gathered the “SWN,” we will meet when it is convenient for you, collect it, and have you sign the application package. We will also review your credit profile and, if appropriate, offer tips on improving your credit scores. If a face to face meeting is impractical, we can execute the transaction via overnight mail at no additional cost to you!
3. Relax and let the underwriters work! – We now send your loan to the lender for underwriting – a 2-5 business day process of verifying information you supplied on the loan application. The lender will let us know if there are any other items needed. We will also order your appraisal to verify the value of the property and title work to ensure that you will have clear ownership at the time of closing.
4. Show up for a “No Hassle Closing” – Usually within 2 - 2 1/2 weeks, closing documents and instructions are sent to the attorney, who prepares the final Settlement Statement “HUD-1” one day in advance. The HUD – 1 statement determines the exact amount of money required from you at the closing. We’ll send it to you, review it by phone and correct any inconsistencies prior to closing. Thanks to our closing prep work, Family Mortgage closings are quick, smooth and free of surprises. And while most mortgage companies skip closings, we’ll be right there with you!
5. Spread the word about Family Mortgage – We need you to help us help others! We hope that both during and after the loan process you will refer your friends, family members, and co-workers to us so we can provide them with the same level of service that we have provided you!
How to Comparison Shop for a Refinance – “The Right Way”
Loan Shopping Checklist - We Want You to Shop the Competition. At Family Mortgage, we know we offer the finest mortgage loan experience on the market, but put us to the test with the attached checklist. In addition to showing you how Family Mortgage stands above the crowd - NO application fee (most lenders charge $300), guaranteed closing costs, 60-minute loan approval and more – the checklist enables you to compare our numbers with the quotes of 2 other lenders. The checklist has tab-through fields and can be saved multiple times for multiple program comparisons!
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