FAQ's for
REALTORS
What types of financing programs do I have?
We
offer a wide variety of financing options to cover almost any residential
loan need. The most frequently used programs are FHA, VA, Conventional-fixed
rates, and 3, 5 & 7-year balloon payment programs. Additionally,
we have several zero down programs, No Income verifiers, sub-prime, jumbo,
stated income, second mortgages and home equity lines of credit. If you
have other needs, chances are our marketing department is working on
it.
How
long does it take to close a loan?
The
process is continually being streamlined to accommodate quicker closings.
Loan approvals now can be given within hours of application with our
automated underwriting systems. Credit reports are available immediately.
We draw our own closing papers and fund all loans in our branch. The
only part of the process we don't control is the appraisal and title,
but with our contacts, turn-around time is very good. Loans are usually
ready to close well before the standard 30 days allotted for the purchase
and sale agreement.
How
do my rates compare to other lenders?
Our
rates are very competitive. We continually monitor the markets to ensure
we remain competitive. It is our goal to consistently offer loan packages
with lower overall costs and rates than currently available elsewhere.
Will you be able to qualify my clients for a higher priced home than my
competitor?
Although
all lenders sell to the same secondary market, with our size we are
able to negotiate different concessions from the secondary market. Furthermore,
with the use of automated underwriting, traditional guidelines may not
apply. One other benefit we have is that with the wide range of products
we offer, sometimes a different loan product will increase what a borrower
qualifies for.
