home-buying-process

Home Loan Process

Are you planning to purchase a new home in the next few months?  You shouldn’t feel overwhelmed: You can start the home financing process now in only a few simple steps.  At The Power Is Now Mortgage Services, we are committed to making your mortgage loan process an easy to manage and stress free experience.

Our experts will fully prepare you for purchasing a home, whether you’re looking for a first time homebuyer loan program or a loan to move or upgrade your current home; need vacation home mortgages or investment property loans; or want to secure your retirement with a reverse mortgage.

Get a Free Credit Approval
Becoming a Preferred Buyer with our Free Credit Approval proves to Realtors and sellers that your offer is serious.  In today’s real estate market, making a competitive offer that is backed by our approval will give you an edge over other, unprepared buyers.

To start the approval process, proof of your financial standing is required.  Documents typically required include, but are not limited to:

  • Proof of income: Original pay stubs for the last 30 days.
  • Copy of homeowners insurance: Verifies that you currently do and will have sufficient coverage on the home.
  • Copies of your W-2 forms: Verifies employment and income history, and should include the last two years for each applicant.
  • Copies of asset information: Include any accounts that may provide funds for closing – savings, checking and 401K accounts, as well as investment records for any mutual funds or stocks.
  • Copy of title insurance: Verifies the legal description of your property, the taxes, and the names on the title.

Choose Your Loan
When purchasing a new home, there are many types of mortgages to choose from, including conventional loans, VA Home Loans, FHA Loans or Jumbo Mortgage.  The purchase loan process can be complex and daunting when there are so many options.  We are your mortgage broker, not a lender.  We work for you and with you to find an optimal, affordable loan option. Mortgage lenders do not work for you, they sell you on what they have available because of their limited programs, credit overlays and strict regulatory guidelines.  We have nothing to sell.  We are here to serve and work with many financial institution that have a program just right for you.

Find Your Dream Home
After you have been credit approved and have chosen the best loan terms for your lifestyle, house hunting and choosing your dream home are so much easier.  You now know how much you can afford and how it will impact you in the years to come.

Your credit approval is active for one months, allowing you time to find the perfect home.  Please do not start the pre-approval process unless you are ready. With the The Power Is Now Mortgage Services your credit approval will expire in 30 days unless you are under contract to purchase.  You are a virtual cash buyer, on limited time. Our affiliate agents and partners will work very fast to help you find your home.  Time is of the essence in real estate.

Fast, On-Time Closings
If you’ve already provided the necessary paperwork, have been approved for a loan and found the home of your dreams, the next step is arranging a closing date. As an all-inclusive mortgage broker we work with lenders who underwrite loans in 48 hours and can fund and close transaction in 21 days.  We work as a cohesive team with our lenders to close loans fast. This fast and hassle free service is not only an incentive to you, but also to real estate agents and sellers who need to close quickly.  Once you have finalized the closing, you are ready to move into your new home.