Foreign National Program without:
Residency, Social Security or Income in the US
USDA Loans for moderate income Families
0% down payment - 100% financing
All Government Loan Programs
FHA, USDA and VA
Ask us about our program
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Contact us to analyze your options.
Don't worry and submit your information
We will help you.
Upto 90% financing for
Purchases of up to $830,000.
Are you a first-time homebuyer and getting ready to apply for a mortgage loan?
If this is your case, you will have to provide your lender with personal financial information as well as information about the house you want to finance.
By now you have probably heard from family, friends or simply reading online to request a Loan Estimate from three or more lenders. But are you familiar with what step needs to take place in order to receive a Loan Estimate? Even if you just want information, to request a Loan Estimate you must complete an application.
To complete an application, you will need to submit the following six key pieces of information:
Your name (copy of a US picture ID such as your driver license or passport)
Your income (last month of paystubs plus last 2 years of taxes and W-2s or 1099s)
Your Social Security number (so the lender can check your credit)
The address of the home you plan to purchase or refinance (a specific house address will be needed)
An estimate of the home's value (loan officer can guide you but the lender will need either purchase price or estimated value if house loan is refinanced)
The loan amount you want to borrow (typically this would be the maximum loan amount allowed per loan program guidelines to be financed after deducting down payment or simply loan amount desired if house loan is refinanced).
Keep in mind although you're not required to provide documents to the lender in order to get a Loan Estimate, it's a good idea to provide them as the more information the lender has the more accurate your Loan Estimate will be. If you decide not to provide documents keep in mind loan programs have many additional guidelines which may disqualify you from loan approval. Therefore is always a good idea to provide documents to confirm your Loan Approval.
Each lender is required to send you a Loan Estimate within three business days of receiving your six key pieces of information.
Once you're ready to choose a loan offer, you need to notify the lender that you are ready to proceed with the loan application and complete the intent to proceed. If you don't notify a lender that you'd like to proceed within 10 business days, the lender may revise the Loan Estimate or close your application as incomplete and you may need to start over. The 10 business days are calculated from when the lender delivers the Loan Estimate to you or places it in the mail, whichever is earlier.
Once you've notified the lender that you would like to proceed with an application, the lender may ask you to provide additional information and documents to verify the information you have already submitted. The lender processes this information and may follow up with you to request additional information or clarification. Once the lender has received all the necessary information, the lender approves or denies your loan application.
The Loan Application process can be complicated and difficult or a simple and easy one. This will always depend on the applicant’s decision on how to proceed. The best way is to research your options and once an experienced loan officer offering most value is found work hand by hand from application to closing.
Apply with Clear Lending Today.
GET PRE-APPROVED ESTIMATE NOW ONLINE
Author:
Joan Gallardo
Loan Officer NMLS 367858
Realtor TREC 0640762
Joan is a phenomenal person who took the time to explain in detail the entire loan process and what to expect! His knowledge and dedication made me feel comfortable as a first-time home buyer with a teacher salary. He was there from beginning to closing and even after! Without hesitation, I would seek him again for his services. Highly regarded and HIGHLY RECOMMENDED.
FROM GOOGLE: Working with Joan and his staff was an awesome experience. He was always available and ready to answer any question. They helped us with a construction loan to build our dream house. They guided us step by step making it really easy to get the One-Time-Close Construction Loan. If you want to make your dream of building your own house come true, we strongly recommend Clear Lending to be your Loan Officer.
I would like to thank Joan for everything he did for us. He is the best in the business and is very knowledgeable. He made the home buying process very enjoyable and he was available at any time to answer any questions we had. He was easy to contact and easy to talk to. I will be referring everyone I know to Joan. Thank you.
