The #1 concern of all Buyer’s Agents is the status of their buyer’s loan. You’ve all prospected a client, driven them through the purchasing process, and broke your back for them at the negotiating table, all only to watch their loan unravel. And it’s become far to common lately. The loan market continues to shrink, with each passing day threatening loans in process and stopping potential homeowners at the door. Locating finance to fit your situation is our specialty, carrying all FHA, VA & CalVET, USDA loans and a host of down payment assistance programs. We offer the greatest selection of loans and our highly trained and experienced loan officers will partner with you throughout the process. Quite frankly, if we don’t do our due diligence in making sure our buyers will qualify, we are wasting everyone’s time.
Our 4 point pre-approval process
- A complete and thorough loan application is taken. There is no substitute for this step, as it is the foundation of every loan. On average, Sean Safholm, Senior Mortgage Broker – since 1999 spends 30 minutes to an hour at this stage.
- Income documentation is collected and analyzed. We do not rely on the client’s estimation of their income. Their housing and debt rations are examined closely. Employment history and consistency is evaluated.
- A loan program is matched to the borrower, both in terms of underwriting guidelines and affordability. If we are unable to locate a loan program that meets the client’s needs, we will prepare a plan for them with the steps they need to take in order to qualify for a loan.
- When all these requirements are complete, we will run credit and submit the application for Automated Underwriting. Once the loan is Approved, it is only a matter of fulfilling the conditions of the Approval.
- Special marketing collateral can be designed for you including items like loan brochures, flyers, mailers and door knockers can be designed for you.
- Coop marketing campaign opportunities to target the huge databases of renters, expired listings and possible short sales.
- Join us at 1st time Home-Buyer seminars, local “town hall” meetings and other public campaigns.
A special note about property conditions
Guidelines concerning property conditions are as tight as ever, which is tough in a market such as Sacramento dominated by foreclosures. Please note that when you are representing a FHA buyer (to a lesser extent conventional financing) that the following list of items is unacceptable: boarded windows, tagged property, holes in wall or ceiling, missing fixtures or plumbing, obvious pest damage etc. This is of course not a complete list; suffice it to say you should avoid homes like this and concentrate on those in turnkey condition. In certain circumstances a EEM program or 203(k) loan may make property of this type eligible for financing.
For investors, we do have some alternate portfolio financing which can fund repairs even on severely damaged homes with as little as 10% down. In addition, we have a access to a large network of Hard Money. So rest assured, if we can’t do the loan, nobody can.