Mortgage Home Purchase Loans without the Hassle!
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- Schedule call to answer all questions and lock interest rate.• Schedule call at https://go.oncehub.com/MikeDelPreto
• Complete home inspection.
• Single family & multi-unit properties: Best to complete inspection prior to scheduling call to ensure no possible deal breakers.
• Condos: Call before/after usually doesn't matter as very low chance of possible deal breakers. - Receive 'Advantage rate locked and items for clear to close' email from processing@delpretomortgage.com (referred to as Processing Email below). Updated final figure est. worksheet attached with accurate final figure (save for reference closer to closing)• Request more recent personal documents if any have expired since pre-approval.
• Receive link to e-sign rate lock disclosures in Fairway portal. - Receive email with appraisal fee credit card link
- Team initiates loan setup tasks• Appraisal ordered.
• Verification of employment requested.
• Verification of homeowners insurance requested.
• For condos (To issue condo warranty prior to clear to close).
• Condo questionnaire completion requested.
• Master insurance policy requested. - Receive initial closing disclosure (CD)• One of our CD specialists will compile the current estimated figures to e-sign for compliance reasons.
• Our lender figures are the only figures that are set. All other figures are still a work in progress and will be updated as the closing date approaches. - Receive appraisal (if no appraisal waiver)
- Condo warranty issued (if applicable)
- Underwriter issues clear to close•Our processor will email all parties to notify of clear to close from processing email.
•Guidance on funds to close and closing logistics provided - Attorneys schedule closing at title company
- Calendar invitation is sent from processing email
- Fairway sends closing documents to title company
- Receive final closing disclosure - final figures below (read carefully and plan accordingly)• Final figures sent from processing email, including final closing disclosure
• If under $50,000, you can get a cashier's check made payable to the title company or send a wire
• If funds to close are over $50,000, then they must be wired to title company.
• IMPORTANT NOTE IF SENDING WIRE: Due to email hacking and wire fraud, wire instructions must be acquired from the title company. Best practice is to call the title company to request the wire instructions. Once received, call title company to have them read you wire instructions and confirm correct on your end.
• If closing time is before 12 p.m., then send wire the day before by your bank's wire cutoff time (call bank to check wire cutoff time)
• If closing time is after 12 p.m., you can send wire day before or first thing the morning of closing date. - E-sign closing documents (Doesn't apply on all loans)• Processing email will send e-sign instructions the day before closing to be complete the morning of closing on your own laptop.
• Documents can't be signed until the day of closing.
• E-signed docs will be printed and watermarked "Review Copy" at the title company to review with your attorney. - Sign closing documents at title company
- Loan funded - you now own the property!
- Create a Homebot account• You will have access to a homeowner website that the Del Preto Mortgage Team has paid for to help our clients build wealth through the real estate they own.
- Schedule call to answer all questions and lock interest rate.• Schedule call at https://go.oncehub.com/MikeDelPreto
30 years
Do I Qualify?
To determine if you qualify, lenders review your total monthly debt (proposed housing payment + regular monthly debt) as a percentage of your total gross monthly income. The acceptable percentage (DTI) will vary depending upon the specific loan program for which you apply.
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