Tips for Choosing the Right Mortgage Lender

For most, choosing to purchase a home is a big decision. Choosing the right mortgage lender to help you smoothly along the process, one you can entrust with all of your sensitive financial information who can educate you on the proper loan options based on your specific financial situation is key to a successful transaction.

Here at Inlanta Mortgage, our mission is to be the home financing partner that you trust to serve your family, friends, and community. Whether you are purchasing or refinancing, we want you to know we have your back every step of the way. While we want to assist you with all of your mortgage lending needs, we also want to provide you with the tools necessary to choose the right lender for your particular needs and circumstances. Here are some tips on how to choose the right mortgage lender.

Do Your Research

The market is changing every day. That’s why it is wise to shop around and talk to a few local lenders in your area to learn more about the types of loan programs offered and current market rates. This will also give you the chance to explain any unique financial needs you may have to see if they have dealt with borrowers like you in the past. While it may be tempting to want to choose a loan officer that advertises the “best rate,” it is important to take into account customer satisfaction, knowledge, experience, and more.

Referrals and Testimonials 

You can learn a lot about a lender based on real online reviews and testimonials from real clients they have had in the past. Successful transactions produce successful reviews and can provide social proof of happy peers in your area that are now homeowners with the help of their trusted lender. Visit your lender’s website, Google+, Yelp, or Facebook page to get an inside look at former client experiences.

Communication

Communication is key during the mortgage process, so having a lender that will stay in touch with you and keep you up to date on the status of your loan while providing you with honest feedback is important. When researching lenders, inquire with them about their communication styles and if applicable, ask to meet their team prior to conducting business with them to learn how it all works. It is important for you to not feel afraid to ask questions. Open communication with your loan officer will help ease any worries you have throughout the process.

Knowledge and Experience

Strong knowledge of the loan process, loan programs, and mortgage products available along with knowledge of the market is important when choosing the right lender. With knowledge comes experience. Working with an experienced lender who has successfully helped many homeowners achieve the American dream may help give you peace of mind during the process. Whether you are new to the process or are a seasoned homeowner, your loan officer should be able to speak with you on the process and provide you with the education and guidance needed based on your level of experience.

If you’d like to get in touch with one of our mortgage professionals today, click here to find a local lender within your area or contact us today for more information.

Renting vs. Owning

rentvsownRenting Vs. Owning

 

Renting vs. Owning is one of the greatest debates consumers face. What are the pros and cons of each? Which option is cheaper? What is better for my current lifestyle? These are some of the questions renters face when trying to decide whether home-ownership is the right choice for them.

Contrary to popular belief, renting may not actually be cheaper than owning your own home. Rent prices are on the rise and starting to exceed the cost of a mortgage payment, and there are many other benefits to home-ownership that you may not have thought of, such as investment opportunity, tax deduction, stability, and freedom.

 

Investment Opportunity

Some people say investing in a home is risky; but with no risk, there is no reward. Studies conducted by the Federal Reserve have shown that owning can provide a net worth that is from several to hundreds of times higher than that of renters. When you own, improving your home increases its value. When you rent, improvements only increase value for your landlord. Ultimately, paying rent will only get you a roof over your head. There are virtually no benefits that paying rent offers beyond having a living space. Further, making mortgage payments on time helps build your equity and credit score.

 

Tax Deduction

Some people benefit from claiming deductions for mortgage interest and real estate taxes. Others find a standard deduction more valuable. Even if you exclude the tax benefit, the real cost of owning can still be less than renting.

 

Stability and Freedom

When you move into a home, it is something that is truly yours. You are free to decorate your environment as you please without worrying about restrictions from your landlord. By settling into a home, you will likely find yourself more involved in the community, whether that is through volunteering, participating in your home owners association, or simply establishing relationships with your neighbors. Renting is typically less stable than home-ownership and relationships with those around you tend to be avoided. Payments for a mortgage can be consistent with a fixed-rate mortgage, making the payment process easier.

 

So, with the cost of rent on the rise, finally taking that leap into home-ownership may be well within your means and could prove to be beneficial. Consult with a loan officer in your area today and we can answer any questions you may have!

If you are thinking about home-ownership, you may want to check out our blog on Inlanta’s Home Loan Roadmap.

 

OUR MISSION STATEMENT

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty, and ethics is the foundation of all of our relationships.

ABOUT INLANTA MORTGAGE

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016.

Home Loan Road Map

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Home Loan Road Map

If you are just embarking on the purchase process, you may be unsure of what lies ahead on your journey. Here are the steps on Inlanta’s Loan Road Map to help guide you on your way to homeownership.

 

1. Get Pre-Approved

Submit your application and the documents needed to verify your income, assets, and debts, including thirty days of recent paystubs, last two years of W-2s, and two recent bank statements.

 

2. Home Search and Offer

Your Realtor will help you find the perfect home and write up an offer letter to the seller, which details the price you are offering to pay for a property and any applicable conditions.

 

3. Purchase Agreement

Your Realtor will write up the contract for you and the seller to sign. A deposit is generally required. This agreement will outline all of the required dates, deadlines, and contingencies.

 

4. Home Inspection

If the offer is accepted, a home inspection is next. Home inspections are not required, but highly recommended. A home inspector will look for any issues or violations with the property.

 

5. Application and Disclosures

Your loan officer will have you review and sign a number of documents and disclosures, including your mortgage application and a Good Faith Estimate, which details the estimated costs of financing.

 

6. Appraisal and Title

An appraisal (an estimate or property value) will be ordered and provided to the underwriting team. Your loan officer will select a title company to research the property title.

 

7. Homeowners Insurance

Proof of insurance is required prior to closing. Your first year’s premium must be paid in full. Have your insurance agent contact your loan officer to ensure they receive the proper insurance binder.

 

8. Final Approval

Underwriting will review all the documentation necessary to approve your mortgage loan additional verifications may be necessary at this point. If all of the documentation is acceptable, you will be clear to close.

 

9. Closing Disclosure

You will get a final breakdown of all costs and money required at closing. For closing, you will need government issued identification and a certified check to pay closing costs.

 

10. Your Loan Closing!

It’s closing time! Did you bring your government issued identification? Do you have a certified check to cover closing costs? During the closing, a representative from the title company will review all the loan documents with you. They will get signatures from both you and the seller. After all money is distributed, the deed will then be recorded with you as the new owner of record!

 

Rest assured you are not on this journey alone. Your loan officer will be with you every step of the way and will be able to answer any questions that arise. Click here to find your local Inlanta loan officer.

 

 

OUR MISSION STATEMENT

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty, and ethics is the foundation of all of our relationships.

ABOUT INLANTA MORTGAGE

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016.

Submit the Perfect Home Loan Application

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Submit the Perfect Home Loan Application

Knowing how to submit the perfect home loan application can help you start your homeownership journey off on the right foot. Here are some helpful tips to ensure a smooth loan process.

For a Smooth Process

An Inlanta Mortgage loan application is your first step to homeownership! No documentation is needed to submit a loan application, and you will not be required to provide it until you receive a Loan Estimate, but gathering required information now can expedite the loan approval process later. Required documentation will vary, but generally, here is what we will need:

YOUR EMPLOYMENT AND INCOME INFORMATION

  • 2 years employment history including job titles, dates of employment, employer’s address, and phone numbers
  • Letter of explanation of any changes in employment
  • Pay stubs for the most recent 30 days
  • Copies of W-2s for the last 2 years
  • Copies of federal, personal, and business tax returns for previous 2 tax years, including all W-2s, 1099s, K1s, and all schedules. If filing an extension, please provide extension

YOUR RESIDENCE INFORMATION

  • 2 years residence history, including addresses, dates, and phone number for landlord if renting
  • If you currently own a home, please provide the most recent mortgage statement
  • Name and phone number of your homeowners insurance agent

BANK & OTHER STATEMENTS

  • Most recent 2 months or quarterly bank statements for all checking, savings, and investment accounts (all pages, even if blank)
  • Most recent 2 months or quarterly 401K/Retirement statements (all pages, even if blank)
  • Copy of cancelled Earnest Money check when it clears your bank account, along with most recent bank statement showing check clearing
  • Non-payroll deposits—we will need to verify the source and receive explanation for non-payroll deposits to your accounts, including any transfers between accounts (make copy of any check you deposit)

IF APPLICABLE TO YOU, THE BELOW ITEMS MAY BE NEEDED

  • Complete divorce decree and/or separation papers
  • Alimony/child support income; proof of receipt may be required
  • Bankruptcy discharge papers (including filings, discharge, and list of creditors)
  • If receiving Retirement or Social Security income, award letter and proof of receipt may be required
  • If any portion of your down payment or closing costs is coming in the form of a gift, please call us, because the documentation required for gifts is fairly comprehensive
  • Once we pull your credit, we may need a signed letter of explanation and/or documentation for any inquiries and/or derogatory credit
  • VA loan: DD214 and Certificate of Eligibility

How to Submit the Documentation

We offer several ways to submit copies of your documentation, including fax, secure email, online chat session, and mobile uploads. To start your loan application, find your local Inlanta Mortgage loan officer or apply online today.

 

OUR MISSION STATEMENT

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty, and ethics is the foundation of all of our relationships.

ABOUT INLANTA MORTGAGE

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016.

Pre-Qualification vs. Pre-Approval

Pre-Qualification vs. Pre-Approval

Prequalification and Pre-approval may sound like the same thing but they are actually two very different things. Getting these two mixed could be a mistake you really don’t want to make. So if you’re looking for a place to start in your home buying journey check out the video and find out the difference between getting pre-qualified and pre-approved!

 

 

What do you think happened?

What do you think happened to Fast Freddie and Thorough Theodore?

  1. Fast Freddie and Thorough Theodore both closed right on time
  2. Fast Freddie closed on time, but Thorough Theodore closed late.
  3. Fast Freddie’s Mortgage loan fell through, and Thorough Theodore closed right on time.
  4. Both Mortgage loans fell through. Poor Freddie and Theodore!

 

If you answered #3 you’re correct! Turns out that Freddy’s prequalification had a lot of PRE, very little QUALIFICATION, and a complete absence of APPROVAL.

A prequalification can be done quickly, but without verified information, it may not be worth the paper it’s printed on. A pre-approval is much more thorough and accurate. Once you have one of these in hand, your credit and income are well known. All you’ll probably need to do next is find the right house.

In other words, a little extra spent up front, can actually save you lots of time in the end.

If you want to get pre-approved before you start home shopping, please reach out to one of our licensed loan officers. We’ll be happy to help!

OUR MISSION STATEMENT

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty, and ethics is the foundation of all of our relationships.

ABOUT INLANTA MORTGAGE

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016.

Questions to Ask Your Loan Officer

Loan Officer with Couple

 

Questions to Ask Your Loan Officer

It’s easy to get nervous about something as big as applying for a mortgage. What is not so easy is putting our minds at ease if you’re in the middle of the process and things aren’t going the way you had thought they would. Here is a list of questions you can ask your loan officer before you begin the process to help you prepare for what’s ahead.

 

1. What are the steps and process for getting a loan approval?

To avoid any delays or surprises, be sure your loan officer takes the time to clearly explain the process and the steps from application to closing.

 

2. Interview your loan officer.

Be sure he or she is someone you trust and feel comfortable working with.  Ask about their experience with your loan type. Be sure you explore all the loan programs with your loan officer to determine that you are selecting the best choice for you.

 

3. What are the total fees / costs associated with the loan?

Borrowers pay fees at closing for services provided by the lender and other parties, such as title companies. Be sure you have a full understanding and a breakdown of all costs you will incur from application to closing. You should also be made aware of any out-of-pocket expenses you will have associated with the loan (i.e. appraisal fees, homeowners insurance, etc.)

  • Lenders may also charge discount or origination points. One point is equal to 1 percent of the loan amount. (i.e. on a $150,000 mortgage, one point would be a fee of $1,500 added to your closing costs.) Discount points reduce the interest rate or are used to buy the rate down. They are prepaid interest and are typically tax-deductible. Origination points are fees charged by the lender to cover the costs of originating the loan. Ask your loan officer if this will apply to you.

 

4. When can I lock the interest rate?

Interest rates can and do fluctuate. To prevent risking a higher rate, you can lock in your rate based on the market the day of locking. Locks are based on a set time frame, typically 30, 45, or 60 days.  Shorter term locks typically offer the best pricing.  Because the rates can change daily based on market, it is always your decision when to lock in your rate. Ask your loan officer about how you can lock in the best rate.

 

5. Is there a prepayment penalty on this loan?

Be sure you ask up front if your loan has a prepayment penalty.  Some lenders charge a penalty if you prepay on the mortgage. Some apply only when you refinance or reduce the principal balance by more than a certain percentage.

 

6. What is the minimum down payment required for this loan?

Be sure to explore your options regarding down payment.  The bigger down payment might mean a lower interest rate and better loan terms. With a down payment of less than 20 percent, you will likely have mortgage insurance (PMI) that will either increase your monthly payment or your rate.  By exploring your options you may also find that there is a program that will allow you to not have to make a down payment and keep those funds for reserves.

 

7. What documents will I have to provide?

Your loan officer should be able to provide you a list of required documents.  Understand the documents requested are required per federal lending guidelines and the sooner you provide those documents to your loan officer, the better they will be able to direct you.  Most Lenders require proof of income and assets, including bank statements, tax returns, W-2 statements and recent pay stubs.  More may be required based on your individual situation.

 

8. How long will it take to process my loan application?

There are a lot of moving parts to getting a mortgage from application to closing.  The timeframe can vary based on the type of loan program and all the parties involved responding to requests in a timely manner.  Purchase offers are typically written with closing dates anywhere from 30 to 60 days from accepted offer date.  As soon as you have an accepted offer, be sure you are notifying your loan officer right away to keep things rolling.  Your loan officer should be able to provide you an estimated time line along with frequent updates on status so you know you are on track for closing on time.

 

9. What can I do to ensure a timely closing?

Keeping your loan officer informed that you are writing an offer and provide updates until the offer is accepted.  Responding to your loan officer in a timely fashion is important. Asking what else you can do to keep the process moving along can help things go more smoothly.

 

10. What might delay approval of my loan?

Be sure you are up front with you loan officer, one of the things that can slow the process is when information is uncovered that was not known at the time of application.  If a job change, a decrease in salary, a new debt, a change in your credit history, or a change in marital status happens during the loan process, it is imperative that you communicate this with your loan officer as early in the process as possible so they can assist you in avoiding any delays.  The best way to avoid that is to put your financial life in a holding pattern until you reach the closing table.

 

Remember, you and your loan officer are on the same team, working together to get you into your new home as quickly and smoothly as possible.

 

 

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

 

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016

Build a Relationship with Your Mortgage Lender

Couple with Lender

Trust: the firm belief in the reliability, truth, ability, or strength of someone or something. Being able to trust your mortgage lender is vital when embarking on the mortgage journey. When you purchase a home, you are making a big investment and securing the right financing can have an impact on your financial future. You are also entrusting someone with sensitive personal and financial information that your loved ones may not even know.

Here at Inlanta Mortgage, our mission is to be the home financing partner that you trust to serve your family, friends, and community. Whether you are purchasing or refinancing, we want you to know we have your back every step of the way. While we want to assist you with all of your mortgage lending needs, we also want to provide you with the tools necessary to choose the right lender for your particular needs and circumstances. Here are some tips on how to build a trusting relationship with your mortgage lender.

 

Choose the Right Lender

Referrals and Testimonials – When choosing a lender, it is tempting to choose whichever has the best rates. This is certainly an important factor in making your decision, but it should not be the sole reason you choose a particular lender. Customer satisfaction should be equally important.

First, ask for referrals from family and friends. They will be able to provide you with trusted information about how good their experience was with their lender. Then, check for testimonials on the Internet. Research the company and the specific loan officer you are looking to work with by visiting their websites, going on social media (e.g. Facebook), and review sites like Google+ and Yelp. To find out what people are saying about Inlanta’s loan officers, visit our website.

Communication – Since you will be working closely with your loan officer throughout the mortgage process, you will want to make sure the loan officer you choose is responsive to your needs and concerns. It is important for you to not feel afraid to ask questions. Open communication with your loan officer will help ease any worries you have throughout the process.

Knowledge –Whether you are brand new to the mortgage lending process or are a seasoned homeowner, your loan officer should be knowledgeable about the process and able to speak with you at your level of expertise. Our Inlanta loan officers are able to provide you the education and guidance you need based on your experience with homeownership.

 

Have an Open Mind

Even if you are a seasoned homeowner, remain open-minded to suggestions from your loan officer during the process. The mortgage world is constantly evolving and even though you may think you are up to date on all of the latest changes in the process, you may learn something new from your loan officer. Inlanta’s loan officers are constantly staying informed on the latest mortgage products, news, and regulations. As part of keeping their licenses current, they also participate in continuing education each year. Take advantage of your loan officer’s knowledge and suggestions during the mortgage process. You’ll find it to be rewarding and informative.

 

Confide in the Professional

Confide in your loan officer about any fears or concerns you have about the process. Many people do not pursue a mortgage because they fear their financial situation will disqualify them from getting a mortgage. However, many loan officers work with a variety of financial situations and are able to guide you on the right path. While all of our loans are subject to credit approval, our loan officers have the knowledge to assess your current situation and give you advice on what you may qualify for. If you need to repair your credit prior to applying for a mortgage, our loan officers are able to provide you with resources that can assist you.

 

Find your local Inlanta Mortgage Loan Officer here.

 

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends, and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

 

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016

Know Your Home Inspector

couple-with-home-inspector

What to Look for in a Home Inspector

No one wants to buy a home without knowing what they’re getting themselves into. As a buyer, the mystery that comes with not knowing the condition of a home is unnerving. This is why getting a home inspection is essential. It is also important to know your home inspector and their procedures before starting the process.

Questions to Ask a Potential Home Inspector

Before you hire a home inspector, ask them the following questions to help you make the best decision:

  1. Are you a member of a professional home inspector association?
  2. Are you experienced in residential inspection?
  3. How long have you been inspecting homes for?
  4. What does the inspection cover?
  5. Am I able to attend the inspection?
  6. How much will it cost?
  7. How long will it take?
  8. Do you offer any repairs or improvements based on the results of the inspection?
  9. What kind of report do you provide?
  10. How long will it take to receive that report?

Asking these questions will allow you to spot any red flags and help you determine if your home inspector is as good as they claim.

Look for Red Flags

Here are some red flags to look for when asking your home inspector the above questions:

  • Not providing documentation or identification that shows they are a member of a professional home inspector association. While being a member of a home inspector association doesn’t guarantee that the inspector is an expert, it is safe to assume that non-members are not experts.
  • Not providing referrals or work history upon request. If the inspector is unwilling to provide referrals or their related work history upon request, they may not be as qualified or experienced as they claim.
  • An inspector will not let you attend the inspection. It is important for you to attend the inspection. Not only are you able to make sure the inspector is thorough, but you will also be able to address any concerns about the home firsthand instead of after the report has been filed. A good home inspector will let you come on the inspection with them; a great inspector will talk you through it as they inspect each area of the home.
  • The inspector will not let you see a copy of their inspection report prior to the start of inspection. Your inspector should let you see a copy of the inspection report before they begin. The report details everything that will be covered during the inspection, and receiving a copy of it beforehand will allow you to ask any questions or add on specific areas you want to be inspected.

Other Important Information

An average inspection can take two to three hours. You should expect to receive the full, completed report within 24 hours. Not all inspectors make repairs onsite, but if they do, make sure to utilize their services. Finally, the cost of an inspection can vary, but an average range can be from $300-$500.

Make sure your home inspector answers the questions above before you begin, and always take precautions when you notice red flags.
Check out the Department of Housing and Urban Development website for more details on choosing the right home inspector.

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.
Inlanta Mortgage, Inc. NMLS #1016

The Ten Commandments of Mortgage Lending

Ten Commandments of Mortgage Lending

Are you buying a home? Here are the ten commandments of mortgage lending to ensure a smooth mortgage loan process.

  1. Thou Shall Not  change jobs or become self-employed
  2. Thou Shall Not  originate any new inquiries on your credit report
  3. Thou Shall Not  buy a car, truck, or van unless you plan to live in it
  4. Thou Shall Not  use your credit cards or fall behind on your payments
  5. Thou Shall Not  spend money you have saved for your down payment, get a gift for closing, or take out a retirement loan without first consulting your mortgage banker.
  6. Thou Shall Not  buy furniture before you buy your house.
  7. Thou Shall Not  make any large deposits into your bank account unless you plan on documenting that deposit and origin of the money (i.e. anything that is not payroll related)
  8. Thou Shall Not  change bank accounts.
  9. Thou Shall Not  co-sign for anyone.
  10. Thou Shall Not  purchase ANYTHING until after closing.

Contact a licensed Inlanta Mortgage loan officer to learn more about the mortgage loan process, available loan programs and current mortgage rates. Use our branch locator to find a loan officer near you or apply today and we will forward your application to a loan officer in your area.

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016

Buying Your First Home?

Buying-Your-First-Home

Are you buying your first home? Here are some things to keep in mind as you embark on the home buying journey.

How Much Can You Comfortably Afford?

The pre-approval process, which involves asset and income verification & credit check, will let you know what you qualify for. What you qualify for and how much you decide to spend are two different numbers. Think about what you are comfortable paying each month and consider any expenses that will come with home ownership (maintenance, etc.). Once you’ve determined what you are comfortable paying, you can focus on homes within your price range.

What Kind of Property Do You Really Want?

Single family, multi-family, condo, co-op, Victorian, Colonial, Cape, split, ranch, cottage, cabin, teepee…home types and legal distinctions are plentiful.  Are you looking to purchase in a specific neighborhood, city or school district? Do you need 3 bedrooms or more? How many bathrooms do you require and is a garage necessary? Narrowing your search will save time and help you to act faster when your perfect home hits the market. An experienced Realtor will take your home amenity wish list, location desire, and price range into consideration when selecting homes to show you.

Where Do You Want to Be and How Long Will You Be There?

You’ll want to strike a balance between buying what you can afford and buying what will accommodate your needs for longer than just the first few years. Assess your plans for growing your family and how your income might grow to match. Planning ahead is especially important in today’s market, when trading up tomorrow may mean both a more expensive home and a higher mortgage rate.

How Does the Process Work?

This is a time when the internet doesn’t have all the answers. The process can vary for many reasons. Generally, the purchase process includes the following:  mortgage pre-approval, offer to purchase, offer acceptance, home inspection, contract, loan application, home appraisal, title review, loan approval/underwriting, then closing/funding, and moving in. Many little steps can fall in between, and the process won’t always occur in a given order.  Find a loan officer near you and who will help you understand the nuances of your market today.

How Much Cash Will You Need To Close?

This information will vary from person to person and is dependent upon a variety of factors. Your loan officer will provide a Good Faith Estimate (GFE) early in the loan process which includes an estimate of closing costs. Before your loan closing you will receive a Settlement Statement (referred to as the HUD-1), which will detail the final closing costs. Note: On October 3rd, the CFPB will require lenders to use different forms. Visit inlanta.com/TRID to learn more about the Loan Estimate and Closing Disclosure (which will replace the GFE and HUD-1).

Ready to Begin the Home Buying Process?

Getting pre-approved for a mortgage loan is your first step! Complete an application online today and we will connect you with a loan officer in your area.

About Inlanta Mortgage

Headquartered in Brookfield, Wisconsin, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac and Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2015. Inlanta has also received the Platinum Million Dollar USDA Lender Award and has been recognized as a Top Mortgage Employer by National Mortgage Professional and a Top 100 Mortgage Banking Company and 100 Best Mortgage Companies to Work For by Mortgage Executive Magazine.

Inlanta Mortgage, Inc. NMLS #1016