The Self Service Mortgage Setup
Your mortgage process is made up of three key elements. All lenders will use the exact same information and they will all want to collect it directly and for good reason. We will go over that later. What is important, is that you can and should have these three steps covered before you select your lender of choice.
Credit - Credit - Credit
You need to have your credit report. This can be free or for a small fee. There are 3 versions of your credit report and when combined, the lenders are ready to go to the next step. There is a lot of information and services that cover this aspect. But you need to have your report in hand with all three agencies and you must have an explanation for everything that is not normal.
Supporting Documentation
These are the documents the illustrate to the lender your financial situation. Your income, your excisting expenses and your assets. This is again pretty basic and when done properly you put yourself in a position to rapidly move through the lender process, no matter who you choose to use.
The Application
This is refered to as the Residential Loan Application, also called the 1003. This simply takes all the infomtion that is coming from your Credit reports and your supporting documentation. Again, every lender wants to do this on their own. This issue is that it is a 5 page form that is a pain to fill out and if check out more than one lender, you will be doing this again and again.
The Self-Service Mortgage Setup will allow you to complete this one time and then have it available when you decide to go loan shopping. Companies like Lending Tree and other shopping sites do a good job at getting it started, but you will then be contacted by 4 lenders that again, will want to do it again and again and again.
You can use our services in the following ways.
A. Pay for our premium service
B. Pay for our simple service.
C. Do everything on your own and pay nothing directly to us.
The Self Service Mortgage Setup
Your mortgage process is made up of three key elements. All lenders will use the exact same information and they will all want to collect it directly and for good reason. We will go over that later. What is important, is that you can and should have these three steps covered before you select your lender of choice.
Credit - Credit - Credit
You need to have your credit report. This can be free or for a small fee. There are 3 versions of your credit report and when combined, the lenders are ready to go to the next step. There is a lot of information and services that cover this aspect. But you need to have your report in hand with all three agencies and you must have an explanation for everything that is not normal.
Supporting Documentation
These are the documents the illustrate to the lender your financial situation. Your income, your excisting expenses and your assets. This is again pretty basic and when done properly you put yourself in a position to rapidly move through the lender process, no matter who you choose to use.
The Application
This is refered to as the Residential Loan Application, also called the 1003. This simply takes all the infomtion that is coming from your Credit reports and your supporting documentation. Again, every lender wants to do this on their own. This issue is that it is a 5 page form that is a pain to fill out and if check out more than one lender, you will be doing this again and again.
The Self-Service Mortgage Setup will allow you to complete this one time and then have it available when you decide to go loan shopping. Companies like Lending Tree and other shopping sites do a good job at getting it started, but you will then be contacted by 4 lenders that again, will want to do it again and again and again.
You can use our services in the following ways.
A. Pay for our premium service
B. Pay for our simple service.
C. Do everything on your own and pay nothing directly to us.