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Best way to prepare your mortgage application.

 

Since 2002, Clear Lending has helped hundreds 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.

Customers Reviews:

  • Maria Luciani • February 14, 2017

    Thank you so much Joan for helping me get approved and close on my beautiful house after being denied by AMCAP and CORNERSTONE over silly stuff. I signed a contract with Stormi Harris from NEWMARK homes and she pretty much requested me to get approved with their preferred lenders. First, I went to AMCAP and later I was sent to CORNERSTONE. Both first approved me but after waiting and a second review or something like that denied me for not having 2-year employment history with same employer and for a couple of silly old issues on credit. At that point, I had given NEWMARK homes over $13,000 which sometimes as per all communications I felt builder I was not going to get back if I didn’t get approved. Then I after searching on google for local lenders I was lucky enough to find Clear Lending and after sending an approval request I got a call from Broker Joan Gallardo. I advised him about the urgency and after I sent him my documents requested he gave me peace of mind by telling me I had 90% chance of being able to close. Joan was so clear and precise with what to expect I felt I was on the right place. After few conditions we had to clear I got the good news I was Clear-To-Close. I am so thankful I want everyone to know this guy rocks and if you are buying a brand new house maybe you want to avoid builder lenders if you don’t have everything perfect. Loan Officers will tell you everything is ok but as I lived it I can see they had no idea what underwriting may come back with after waiting and waiting for an approval. Soo scary!!!! Thanks Clear Lending for saving me from a huge loss and helping realize my dreams. I will refer you all my friends or whoever ask me if I know a good lender!!!

  • Peter Molina • July 04, 2019

    FROM GOOGLE: I just want to thank Joan G. for an excellent job on our loan. This was our first home and the experience was great. He was very knowledgeable with all the different types of home loans. Joan explain the whole loan process clearly and how your credit works to get the loan. When it came to closing on the house all the paperwork was done properly with less stress on us. I would recommend using Joan G. at Clear Leading for your house and loans.

  • John & Cari • February 20, 2018

    Joan and his team were extremely helpful and really attentive to our needs while going through our loan process. They made sure the VA process went smoothly as well. I would recommend Clear Lending to all looking to buy a house.

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