Preapproved or prequalified, conditions, clear to close. What does all this mean? Often the jargon and ever-changing rules of mortgage lending can get confusing to borrowers, even realtors who are working with you. If you’re not guided correctly it can lead to tying up, slowing down, or worse yet, prevent you from getting to the finish line. It is important to know the difference, but Redmond Lending Group will always have you and your realtor in mind when it comes to putting you on the fast track to a low cost and efficient process!
GETTING A QUOTE AND CONSULTATIONS
Sometimes, you’re just thinking about buying, or refinancing for that matter. You’re curious what the market rates are doing, and on a surface level, what it may take for you to land the loan you need to buy the house you’re looking for. You may be wondering, how much you can afford, or get approved for? What kind of credit do you need, and what are some ways I can improve my credit? Perhaps you just took on a new job, once had a bankruptcy, or have limited down payment sources. All very good questions & topics we’re happy to discuss with you! You might be surprised how many loan programs are out there that can assist you in this journey no matter what your situation may be. Redmond Lending is eager to discuss; eager to help!
On the other hand, you may have a good idea what you can afford and confident of your financial situation, but just want to have a no obligation, no hassle rate quote. We are excited to provide you with the data and encourage you to click or call us regarding rates anytime! Not all rates are the same! Often rates that are advertised by other mortgage companies and banks may have origination fees or ‘points’ associated with them. We may be able to provide you with the same, if not lower rate without those fees. You are most encouraged to shop rates! Most of all, we’ll consult with you to make sure you’re asking the right questions and are well informed. It is our goal to find you the best deal, whether we provide you the loan, or refer (or affirm) you have the best available option for you!
Click the ‘Get a Quote’ button anywhere on this site to get the discussion going, or simply call us directly!
This is often referred to as pre-approved or prequalified. The prequalified process is a simple, yet important part of the home buying process. It conveys to realtors and more importantly sellers that you are not only serious about buying, you are a credible buyer! A prequalification is a simple screening and analysis of one’s income and credit to provide a quick qualification ensuring you the peace of mind while you’re shopping for that home. It only takes a few minutes! By clicking ‘get a quote’ button anywhere here on the website you’ll be able to provide some of the key bits of information we’ll need to get you prequalified. It only takes a quick minute! Or simply give us a call and we’ll get you on your way as a qualified buyer.
APPROVAL PROCESS & LOCKING RATES
After you’ve decided on a home and are ready to secure the loan, banks are required to obtain key pieces of information to complete the application. Usually this is also the time you may want to secure or ‘lock’ in your rate, thereby protecting you interest against volatile market conditions during the processing of your loan prior to closing. It is during this phase of the game; you’ll be provided with loan closing cost estimates and the ability to give us the go ahead toward any required due diligence that may be necessary, such as title analysis, appraisal, along with income and employment verification and documentation, to name a few examples. Depending on the underwriting guidelines, loan product, and other risk factors, will determine what documentation will or won’t be necessary.
The best thing, with Redmond Lending Group – you have a partner working beside you every step of the way. We will do all the heavy lifting, mind all of the details, and make sure your loan is closed in the quickest, most efficient manner!
Whether you just want to talk, wondering what rates are, need a prequalification, or bear down and get to the closing table quickly! Click the Get a Quote link or give us a call.