Please add sections to this wiki with useful information about the process, so that people don't have to ask the same questions over and over, or scan the whole thread for answers!
Notary and closing
Here is what you can expect or ask for from my experience:
1. New pen for signing wiped thoroughly
2. Pen stays with you after signing
3. Only material they will touch would be your ID
4. ID would be wiped and returned back
5. Can expect gloves to be worn
6. Signing can happen in your front yard or in your garage
7. If you have a Costco table then you can sit on either sides to maintain distancing
8. Masks might be recommended given new guidelines
9. Plus discuss with the notary!!
expiredGreenworld123 posted Dec 08, 2019 02:27 PM
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expiredGreenworld123 posted Dec 08, 2019 02:27 PM
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They basically just need few info below and are required to provide us a LE.
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Since October 3, 2015, loan officers are required to provide you with a Loan Estimate once you have provided certain information.
Loan officers are required to provide you with a Loan Estimate once you have provided:
your name,
your income,
your Social Security number (so the lender can pull a credit report),
the property address,
an estimate of the value of the property, and
the desired loan amount.
Your loan officer cannot require you to provide documents verifying this information before providing you with a Loan Estimate.
2.75% 30 years Loan Amount 357k
ABC = $1140
Lender Credit = $3440
AMEX Credit = $2500
Shahhere
2.75% 30 years Loan Amount 357k
ABC = $1140
Lender Credit = $3440
AMEX Credit = $2500
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2.75% 30 years Loan Amount 357k
ABC = $1140
Lender Credit = $3440
AMEX Credit = $2500
https://slickdeals.net/forums/showpost.php?p=
Homework and Understanding:
Step1: The goal is to get a formal Loan Estimate (LE) from any lender you apply with and provide them your Social Security to do a Hard Pull. Note that for Mortgage related SS Hard pulls they are combined as a single inquiry and do not drop your credit score like individual credit card applications as this applies to Student Loan and Auto Loan shopping as well and is looked at a 14-45 day window.Step2: Understanding the Loan Estimate as they are overall in a standard format:Step3: Closing Cost shopping:Applying:
Step4: Apply to 5-15 places to yield the best results when shopping. Apply to your local Banks but note that many smaller mortgage companies have a higher threshold for rates and credits in your favor. Applying means that you'll have to provide your Social Security# and some preliminary data in an application to get documents sent to you such as a Loan Estimate (LE). Note from above that Mortgage, Student & Car Loan Hard Pulls are groups as single hits and won't drop your credit score in most cases for 14-45 days. Below are the most competitive lenders that I've encountered for my scenario with my own feedback:
30 Year rates to use for other rate platforms and please note that my rate will not necessarily mean you'll get that rate as market and individual changes will determine that and even your negotiation pull will determine that:Not all Lender will service your state so keep looking and look for other local smaller lenders and banks.
Step5: While applying take note to provide and send/upload all documents to the lender in as little of a time as possible as many lenders will drop your application if it's not received in 2 business days. Normal documentation:Step6: Title Company. As noted above you are allowed to pick your own Title company and in many cases you'll find competitive rates here with large savings compared to the Lender's preferred Title Company. Title Companies I've used in the past with good success and others:Step7: Negative points.
Step8: Breakeven Calculations and understanding money factor
Shahhere
Shahhere
I dont know about quickly lol, some days she is super active some days it takes her 3-4 days:
Samantha Schlarb | SVP of Mortgage Banking |PH: 312-350-2324 – [email protected]
She had okayed me using her contact when asked a few weeks back.
Also, option 2 on their phone will go to her voicemail which is apparently full so Email is the fastest to get a response.
Shahhere
Doable, but right now some lenders are refusing to work with borrowers who would have a "second mortgage" on the property.
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