Since 2002, Clear Lending has helped thousands of clients follow the smoothest loan application process minimizing loan complications and assuring fastest loan approval. In most cases, it doesn’t make sense seeing homes until you are familiar what your monthly payment will be depending on areas you plan or wish to live.
Consider these:
• Down payment: Most loans require a down payment. FHA Programs require 3.5% down payment, Conventional Programs typically require 5% and Jumbo or Portfolio loans may start at 10% down payment depending on loan terms. Generally, a higher down payment means better loan terms and a lower interest expense on the mortgage.
• Qualifying for a loan: Clear Lending will help you assess how much you can afford based on your income, employment history, education, assets (e.g., bank account balances, other property, insurance policies, pension funds), and debt requirements. We will check your credit report before the underwriter sees it to clear up any potential issues.
• The right loan for you: You should not spend i.e. $300,000 on the purchase of a house just because we tell you qualify for a $300,000. Better instead and based on your Family priorities tells us what is your ideal monthly payment including taxes and insurance and we will help determine the loan amount you will be comfortable with.
Secure Financing:
Unless you’re paying cash, you will need a loan and thus a pre-approval from a bank or lender. Sellers will only consider and give priority to best qualified bidder. A prequalification letter is the weakest way to assure seller your loan will be approved should your bid offer be accepted. A pre-approval letter provides more piece of mind to seller as it means buyer provided loan officer income and asset originals plus obtained a credit report. With income/asset/credit information, a loan officer runs the application thru Automated Underwriting System (AUS) to obtain an Approve/Eligible result response. Best of all form it’s a Conditional Approval in which underwriter has actually received income/asset/credit originals and issued a conditional approval. Clear Lending will get you fully approved even before you have seen your first house. This way and once you find your dream house your chances will be highest.
Loan Closing/Prepaid Costs and Terms:
Keep in mind the interest rate is as important as many other aspects of the loan process that need to be analyzed at application. This is why Clear Lending goes over every single closing cost such as owner’s/lender’s title policy, tax/insurance escrows and government, lender, attorney, processing, survey, appraisal, tax certificate or service fees. Also Clear Lending will go over different loan programs so best possible option is chosen. Other issues could potentially be repairs required on the property to secure financing. Clear Lending will help clear these conditions and others so the transaction can close.
Select a Texas REALTOR®:
Selecting a Texas REALTOR® will help you save time and money by researching properties based on loan criteria secured by Clear Lending. Ask us for our recommendations as we know several neighborhood expert agents whom have helped hundreds of happy clients.
Before you start seeing homes, consider:
• Location: Choosing the right location is key. How close or far you want to be from your job, shopping centers, kid’s schools or entertainment?
• Home style: Do you want to enjoy the space a Single Family Residence offers as well as fewer restrictions to customize your home or prefer a condo offering amenities without the need of yard work.
• Property age: Inventory homes provide better insights of its neighborhood qualities as yards are mature and more established; then depending how old house is it may require more or less maintenance. In contrast, brand new homes will require less maintenance but then you may not end up liking how neighborhood evolves over time.
Make an Offer:
Once your Texas REALTOR® agent has found the perfect house according to area of choice and price criteria, he or she will prepare an offer “make sense” handling negotiations with your best interests in mind organizing inspections and option periods.
Close the Deal:
After sometime of research and decision-making, transaction will close at the title company's office. The title closing agent will ask you to sign many documents not before explaining each one. At closing, you will be required to bring cashier's check (cash to close), sign Closing Document itemizing all closing costs (the lender will have given you a copy in advance). In return, you will receive a deed, transferring ownership rights to you.
Congratulations!!! Now you are a happy home owner.
Don't wait any longer and find out how much you can get Pre-Approved for.
Whether you are considering purchasing or refinancing an existing FHA mortgage loan, Clear Lending can help you. Simply complete our secure and encrypted Pre-Approval Form online and we will contact you right away to review best options for you.
This advertisement is not an offer for an extension of credit. Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.
Joan Gallardo was able to get me from phone call wanting a good home but not wanting to use a ton of my cash for down payment to being in the home in just a few months. Worked as a realtor and helped secure the lending...all in one. Honestly it was perfection. They got me in a better home than I expected when I first called. I can honestly say this was more than I expected, and it took a ton of stress out of a situation I was worried about starting. My only regret is not calling them earlier. I had worried I was not going to get what I wanted for a long time...I got it with Clear Lending.
Sr. Joan Gallardo gracias por su dedicacion y paciencia con nuestro proceso. No fue facil y tras ser denegados por nuestro propio banco (todavia no lo puedo creer) contacte a clear lending y desde el primer dia me dijeron que si hacia lo que me decian podria comprar casa. Y asi ha sido! Gracias Sr. Joan por su amabilidad y extrema paciencia. Que Dios le bendiga.
Joan:
Thank you so much for all your hard work to make this loan a successful ending. You know this is not my first house, but my family and I are very grateful. I am not a first time home buyer, but we are very excited to be a home owner again. I thank you from the bottom of my heart once more for making this possible. Yes, I will definitely refer anyone who comes to me for the inquiry. I will never forget you Joan and Nathalie for what you have done and how hard you worked to make my dream come true. You are very efficient and professional. I am glad that you are my loan officer. Thank you very much once again.
Sincerely,
Jeffrey Rodriguez