Home Loan Application - Online Portal
(You Completed Application & Pressed Enter)
____________________________________________________
Now What?
STEP 1 - Loan Officer Reviews Application & Supporting Documents
Did Anyone Ever Tell You Why? --------Watch Video Below--------
1. Review Proof of Funds - liquid assets must be accessible and enough to cover closing costs and down payment on loan.
2. Review Pay Stubs & W2's - take the findings and calculate the monthly income of the applicant.
3. Credit Report - (if steps 1 & 2 are acceptable) verify credit score and confirm an accurate debt-to-income ratio.
STEP 2 - Update Application & Submit To Automated Underwriting For Loan Approval.
Must Watch Video- Find Out Why Some Lenders Hand Out Pre-Approvals That Could Be Worthless!
Congratulations - You Are Pre-Approved!
STEP 3 - Issue Pre-Approval & Closing Cost Estimate
Pre-Approval: It's easy and fun to issue! It means that you have passed the primary checks to qualify you for a home loan, however it's not a guarantee.
Closing Cost Estimate: It's a very detailed ledger that shows your cost breakdown. Everything from lender fees and title fees to closing cost are detailed so you have an understanding of total proceeds that you need to buy this home. or
We Need More Time.
Self-Employed
These borrowers always take more time. (Hint) You can have a ton of write offs, but you can't count that later as income.
Commissioned
Employees -
Variable Hours
These applicants face their own set of challenges without being able to have consistent income. Often times, they face a two-year W-2 verification instead of one year like standard applicants,
Multiple
Buyers
Everyone's credit score and debt ratio have to be counted and rolled in. Example - One person has a great credit score but is in great debt. We can't take their score without averaging in the debt load.
Starting A New Job
Often times, a job offer statement is required, detailing hours and benefits. You must also receive at least one paycheck.
Meet Kim
Kim Buckius was a 1st grade teacher in Lancaster County for 18 years. Past clients describe her as very patient, understanding, a great communicator, positive and last but not least, detailed. You won't have to raise your hand to talk, but you will have homework. You'll need the following: 30 days of recent paystubs, copy of your driver's license, 2 months of bank statements and two years of W'2's.
Something To Consider: 85% of consumers that buying a home never interact with the lender they use before giving up their personal information for a pre approval!
"15 years ago, I made this mistake. The loan officer was not kind or patient and I felt interrogated about purchases on my bank statements. I was uncomfortable the whole time and I will never forget it." -Kim Buckius
Free 30 Min Consultation - No strings attached
Cell: 717-989-7567
Meet David Orr.
David Orr's reputation is 3 decades in the making. Dave has laid the foundation for his reputation with a simple but astounding statistic: 99.6% of David's pre-approvals who get to the settlement table close! Often times, when a buyer's agent, who is representing a buyer with a pre-approval from David Orr, reaches out to the listing agent to let them know who the lender is, they say " David Orr is amazing, his loans close on time."
There are a lot of built-in benefits to working with David but one of the best ones is that he will meet with you by phone, in person or virtually to explain the entire process with no strings attached. He believes that educating and empowering clients is the only way forward.
KW ELITE
(717) 553-2500
5139 MAIN ST
EAST PETERSBURG, PA 17520
