When purchasing a new home,
Weatherstone Mortgage Corp.
can offer you the most competitive rates because we deal with over
40 lenders.
OUR LENDERS:
With
so many lenders, we do the shopping for you. One of our mortgage
professionals will walk you through the entire mortgage process,
helping you arrange your mortgage with the lending institution that
offers you the best program; whether you are buying your first home,
investment property, second home or a line of credit that will
improve your existing residence.
With
so many options out there, one can get tied up in the mortgage
jargon of rates and terms. That’s why you need a mortgage broker
that you can trust, who will get you the results you want while
improving your current financial situation.
STEPS TO YOUR
NEW HOME
Contact
Weatherstone Mortgage
at 516-349-8181 and talk to one of our qualified, friendly
mortgage originators.
Receive a Pre-approval after answering a few, brief questions.
Let
Weatherstone
do the rest.
To speed up your process, you can fill out
an automatic pre-qualification online.
Required Documentation Most Recent:
30 Days pay stub 2 Years Federal Tax Returns 2 Years W2 & 1099 Forms 2 Months asset statements (all pages) Contract of Sale (purchase transaction)
Mortgage Approval Process
¨After
an initial consultation, several federal documents are
provided that detailed estimates of cost to obtain the loan.
¨The
type of loan for which you may apply for is largely
dependent on your credit history, your capacity to repay the
loan, and the qualification of the financed property.
¨Following
is a partial list of basic choices you may face that will
affect your interest rate:
Conventional or Government
Fixed
or Variable Rate
Term:
1,3,5,7,15,20 or 30
Provide full, partial, or no financial documentation
Amount of down payment
¨Purchase
or refinance loans almost always require an appraisal of the
property and a personal credit report.
¨At
this point, unless there are extenuating circumstances, your
application is ready for an underwriter’s review and
decision.
¨An
approval is customarily in the form of a written
“Commitment”.
Some
Important People To Know When Buying A Home
Realtor-
finds house and negotiates price
Real
Estate Attorney- represents you with legal contract matters
as well as negotiates and re-negotiates price, closing date,
engineering problems, etc.
Engineer-
check house in entirety for structural damage
Termite
Inspector
Mortgage
Broker- will shop for your perfect mortgage program
including your rate, term and lender; then processes your
loan until it is closing
Registered Mortgage Broker, NYS Banking
Department
All Loans Arranged Through Third Party Providers
