We will pull your credit and collect all necessary documents: 2 years tax returns with your W2s or 1099s, 2 most recent paystubs, 2 most recent bank statements; these are the most common.
We will get your monthly debts, calculate them against your monthly income to get your max budget. We will also find loan programs you qualify for and select the best program for you.
This is the fun part! Working with an agent is key. They have access to properties that are not listed on popular websites like Zillow. The agent learns about your tastes and what you are looking for and can send you properties every day to your inbox.
During this process, keep sending us your updated paystubs and any bank statements that may come out during the shopping process.
The first part is the mortgage application. This is when we sit down and eSign documents and wet sign a few additional ones. During this time, you will be scheduling inspections on the property with your real estate agent.
Once the inspections are done, we order the appraisal. During this time, your loan application moves into Processing. This is when our team collects all of the documents necessary for the underwriter. We may reach out to you for one last item!
The next step is when your file moves into Underwriting. The underwriter will look at everything that was provided by you and underwrite the file to the loan programs guidelines. After they look at everything, they issue a Conditional Approval. This means the loan will be approved, once a few “conditions” are cleared. Typically, conditions are letters of explanation from you describing what a deposit on your bank account is or why is your income a certain way. This is when we reach out to get the final items we need to get Final Approval.
Final Approval means the underwriter has made sure you met all necessary guidelines and will send the file to closing. This is when we send out the Closing Disclosure (CD) to you and wait 3 business days to close the loan. During this time our closer and processor will work to get your file Clear to Close with the title company. Once we hit that, YOU ARE READY TO SIGN YOUR PAPERS AND CLOSE!
We offer many different conventional loan types with different down payment options. We work with both Fannie Mae and Freddie Mac to ensure you are put into a perfect loan program for you.
Backed by the Federal Housing Administration (FHA), an FHA loan is very common due to their "common sense" underwriting guidelines. With less stringent guidelines, this loan is perfect for everyone.
Did you know Top Flite Financial in Medina is one of the preferred lenders for USDA? In rural areas, USDA offers a loan with affordable terms, low interest rates, no PMI charges; all without fronting a large down payment.
The #BeardedBanker only believes in one type of super hero - Veterans. A VA loan is one of the many perks available to Veterans. We strive to make the process smooth, efficient, and quick.
Tired of paying rent? Are you living in your parents basement and ready to get out? Trust the #BeardedBanker -- he too was a First Time Homebuyer just a few years ago. He knows exactly how you felt before you became a homeowner, that is why the process is very simple with the #BeardedBanker
Purchasing a home over the conforming limits? Our special programs for larger mortgage loans will be second to none. While other lenders stray away from Jumbo loans, we offer many options to the borrower; such as recasting.
Michael Sweigert dba #BeardedBanker NMLS #1240868 OH LO.050083.000 FL LO52584 Branch NMLS ID #:1457122 MB:803839.027 FL Branch License#: MLD7453 Mortgage Loans in Akron Mortgage Loans in Medina
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