How to apply for Supreme Lending Loan –HomeOwners Pride
Supreme lending Mortgage is one of the home mortgages you can rely on as a homeowner or intending homeowner. It’s among the progressive and well dynamic mortgage service providers in the country.It’s Supreme Lending’s pride to offer customers varieties of loan products and they committed to seeing their clients come out successfully in their deals.
How to Apply for Supreme Lending Loan
The pre-qualification stage: This states is between 60-40 days and it involves the following:
- Knowing the place you want to live
- The type of loan that’s best for your financial needs
- The type/category of home you want
Making the Offer To Buy (Between 40-30 Days). This comes after you’ve located the main property you want and then if you’re ready to make an offer for it.
Contact Supreme Lending
click here to contact Supreme lending mortgage services and register online
Things to Consider: When applying for a Supreme lending loan
- Your Option fee
- The closing and the possession date of your property
- Particular sales price to Offer
- Seller’s concessions
- Earnest Money
- The Terms
Acceptance Stage: Supreme lending
This stage occurs when all the parties in the process agree to the particular price and also to the terms and conditions of the contract. This is usually from 30-25 days from the closing.
Meeting the Deadlines:
The things to expect as you want to meet all he deadlines:
- Open the Title
- Do your generation inspection
- The loan approval
- Termite inspection
- Main Appraisal
- Homeowners insurance
The last minute detail information: This happens From 5 days to the closing date. You’ll have to conclude all the last minute details in the last 5 days to make sure that you get all the keys to your house right on the closing day.
Things that happen in the last minutes days:
- Funding the house: At this point, all the conditions and terms must have been met and all the papers duly signed.
- Possessing your property: At this juncture, you’ve to take your keys from your real estate consultant/agent.
- Closing: The closing involves your coming to sign all the paperwork to legalize your possession of the property.
Type of Loans
- FHA Loan
The FHA Loan is a Federal kind of Housing Administrative loan which is mainly for lift off the risk of most non-payment and the foreclosure from private Lenders.
- Its limits are lower than the conventional loans
- Has a higher MIP than the conventional
- Requires Down payment
- Needs MIP not minding the loan value
- Comes with lower interest rates
- It has the backing of the U.S government
- Bankruptcy may not disqualify you
- There’s down payment (less)
- No strict credit scores requirements
- Permits low mortgage points and similar closing cost requirements
- V A Loans
This is a loan service for military veterans or any of their surviving spouses or next of Kin having a Federal guaranteed home and a Zero Down Payment.
- Lender/seller can pay a closing cost
- Any borrower must have a certificate of eligibility
- Borrowers need to pay one-time funding feed depending on the loan amount and the length of the service.
- There’s a limit to the appraisal fees
- Original fees have a limit and the closing costs of the lender need an arrangement
- There’s no down payment
- The absence of a Private MIP
This particular loan is for a rural housing program that permits homebuyers to get loans with small closing costs and it doesn’t need a down payment.
- Applicant must verify income limits
- The property must be in a very good state or it’ll have a high insulation R-factor
- Applicants can’t qualify with over 50% of 115% of the median county income
- Offers low-interest rates
- There’s no limit on the Gift fund
- Offers 30-year loan on competitive rate
- There’s low cash reserve requirement
- Don’t require down payment
- Applicant should have a wide range of credit profiles
- The closing cost can be added to the loan
- The property should be in and good rural area
- Offers 6% maximum seller’s concession
- Doesn’t require a first-time Homebuyer
- There’s no non-allowable costs
- Offers government guarantee fee instead of a monthly guarantee fee
- It’s for families or persons who have minimal funds for a down payment and closing costs.