Inlanta’s Partnership with Vets

Inlanta’s Partnership with Vets

Our veterans have made the ultimate sacrifice to protect our freedom. And Inlanta Mortgage believes in paying tribute to these heroes every day by partnering with them in many ways, every day, including:

VA Loans

Inanta is proud to offer our veterans and active military personnel VA mortgage loan options to help our heroes purchase or refinance a home. Designed specifically for service members, veterans and eligible surviving spouses, these mortgage loans offer excellent benefits including:

  • No money down
  • No PMI* (primary mortgage insurance) required
  • More flexible credit guidelines

*PMI is typically required when purchasing a home with a down payment under 20%, and the payment is added to your monthly mortgage payment.

Pets for Vets

It’s our mission to help everyone achieve the dream of homeownership, including our returning service members who may find their transition to civilian life difficult. It’s important to have someone special waiting for them at home to provide friendship and comfort to make that transition easier. That’s why we’ve partnered with Pets for Vets, an organization that adopts shelter dogs, trains them and pairs them with a veteran in need, to donate a portion of every loan closed through the end of 2018. For more information on Pets for Vets, click here: https://www.petsforvets.com/

Homes for Heroes

Homes for Heroes is the largest nationwide network of affiliate real estate, mortgage and local business specialists committed to providing easy ways for heroes to save on a home. The organization was established shortly after 9/11 to give back to firefighters, EMS, law enforcement, military (active, reserves & veterans), healthcare professionals and teachers. Team Inlanta has a network of Homes for Heroes mortgage professionals that are supporting its mission to help our heroes achieve the dream of homeownership. To find an Inlanta Homes for Heroes lender in your area, contact us today.

Inlanta Veterans

We’re honored to have military veterans on our Inlanta team who personally understand the sacrifice and selflessness of our vets and active military personnel. They are thrilled to have the opportunity to help their fellow veterans achieve the dream of homeownership and are prepared to help those who have served and their families obtain a mortgage loan. Contact us today if you’d like to find a veteran lender in your area.

Happy Veterans Day to all those who have served for our country and for our freedom!

FHA & VA Loan Programs

fha_vaFHA & VA Loan Programs

With mortgage rates still low, now is a great time to buy! There are many different loan options out there today that make buying a home achievable, and it is important to understand your options throughout the home buying process. Continuing our discussion on government loans from last week, we want to take some time to discuss your options with FHA & VA loan programs.

 

FHA Mortgage Loans

The FHA, or Federal Housing Administration, offers a low down payment option that can help low income or first time homebuyers purchase a home. Since the Federal Housing Administration insures your mortgage, individual lenders may be more willing to give you loan terms that make it easier for you to qualify. To qualify, you must have proof of steady employment and clear CAIVRS, which is the government’s Credit Alert Interactive Verification Reporting system, to qualify. CAIVRS is a database of those who have defaulted on government loans, owe back taxes, or have other federal debt. If you are on this list, you will not be able to receive the loan unless you can get your report cleared.

Compared to other loan programs, FHA has lower credit score requirements. It does, however, require a minimum score of 580 to qualify for a low down payment. If you are concerned about your credit score, consult your loan officer to find out if you might still qualify. These loans can also have a lower down payment requirement than a conventional loan. Conventional guidelines call for two months of asset reserves at closing, meaning two months of mortgage payments, including taxes and property insurance. FHA has no reserve requirements which means less money spent at the closing table.

Not only can closing costs be paid for by the seller, but the down payment of an FHA loan can also be gifted to the homebuyer. This has become a trend for buyers who are getting married and prefer that their gifts go towards a down payment on a home rather than a wedding registry. If you are getting a gift for your down payment, make sure you document it by getting a gift letter from the person you receive the gift from and be able to document any large deposits to your bank account. This will be required when your application is looked at by an underwriter.

It is important to note that FHA loans can only be used towards the purchase of a primary residence, so if you are looking to purchase a second home or vacation home, you will need to look at other programs. In addition to FHA purchase loans, other FHA options include streamlined and cash-out refinancing, as well as FHA 203k rehabilitation loans, which allow you to combine renovations and the purchase of your home into one loan.

 

VA Loans

If you have served our country, you may qualify for a VA loan. These loans are available for active, non-active, and retired Army, Air Force, Marine, Navy, National Guard, and Coast Guard vets who meet the established service requirements. To qualify, the veteran must have served on active duty and have a discharge other than dishonorable after a minimum of 90 days of service during wartime or a minimum or 181 continuous days during peacetime. There is a two-year requirement if the veteran enlisted and began service after September 7, 1980 or was an officer and began service after October 16, 1981. There is six-year requirement for National Guards and reservists with certain criteria and there are specific rules concerning the eligibility of surviving spouses.

VA loans offer many great benefits to veterans that are worth looking into eligibility for. These benefits include:

  • No Down Payment
  • No monthly mortgage insurance (PMI)
  • Gift Funds are acceptable for closing costs
  • No Cash reserves requirement
  • A variety of terms or loan types available
  • Available for purchase and refinance
  • Reduced costs for disabled veterans
  • Seller can pay closing costs
  • Seller pays for any required repairs
  • No pre-payment penalty

Both of these programs can offer many great benefits to qualified borrowers. If you think one of these programs would be a good match for you, contact one of your local Inlanta Mortgage loan officers to get pre-approved 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, Wis., Inlanta Mortgage was established in 1993. The company has grown to 35 branches in 16 states and over 240 employees. Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac, Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs.

Inlanta Mortgage was recently named a Top Workplace for a third time in 2016. 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.

PARTNERSHIP OPPORTUNITIES

Inlanta Mortgage continues to expand its branch network and encourages ethical lending professionals to learn more about our support platform and discover how an Inlanta branch partnership with Inlanta Mortgage is essential to long-term success.

Locate an Inlanta Mortgage loan officer at www.inlanta.com/locations. For current employment opportunities, visit www.inlanta.com/join-our-team/employment-opportunities. Learn more about Inlanta Mortgage branch partnership opportunities at www.inlantapartners.com, call 262-439-4260, or email partners@inlanta.com.

Inlanta Mortgage, Inc. NMLS #1016.

Getting a VA Loan

VA Mortgage Loans

VA Mortgage Loans

VA mortgage loans are designed to help our nation’s veterans purchase a home or refinance their existing mortgage. VA loans are a great option for eligible veterans because there is no down payment requirement, qualifying requirements are less restrictive than conventional loans and private mortgage insurance is not required.

Visit the Department of Veterans Affairs website to determine if you are eligible. Spouses of veterans may also qualify under specific circumstances.

VA Mortgage Loan Process

1. Find a Lender – You need a lender who participates in the VA program.

2. Get a Certificate of Eligibility (COE) – A COE verifies that you meet eligibility requirements for a VA loan. In most cases, Inlanta Mortgage loan officers can access and obtain your COE through an internet-based application (Web LGY) in a matter of seconds.

3. Find a Realtor – A Realtor can help you find a home and negotiate a purchase agreement.

4. Complete Your Loan Application – Work with your lender to complete your loan application and gather required documentation (bank statements, pay stubs, W2s).

5. Loan Processing – An appraisal will be ordered from a state-licensed real estate appraiser and your mortgage lender will begin to process all your application and documentation. Your lender will review all your information and confirm that the appraisal meets the market value requirements for a VA home loan guaranty.

7. Loan Approval & Closing – After reviewing the property appraisal and your credit, income and asset documentation, your lender can make a decision to approve or deny. Approved loans move towards closing. Title company representatives or attorneys conduct the closing – which is where the property is transferred to you!

Learn More About VA Loans

Do you have additional questions on VA mortgage loan eligibility, the loan process, or VA loans in general? Inlanta Mortgage loan officers are qualified to answer all of your VA mortgage loan questions. Use our branch locator to find a licensed mortgage loan officer near you.

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 – Celebrating 20 Years

Celebrating its 20th Anniversary, 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 Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

 

 

VA Mortgages – No Down Payment Needed

VA Mortgages

What are VA Loans?

VA mortgage loans are designed to help our nation’s veterans purchase a home or refinance their existing mortgage.

Veterans with qualifying credit and income can purchase a home with no money down, no private mortgage insurance, and competitive interest rates. To qualify for a VA loan, a veteran must have served 181 days during peacetime, 90 days during war time, or 6 years in the Reserves or National Guard. Spouses of veterans may also qualify under specific circumstances. Contact a licensed Inlanta Mortgage loan professional to discuss this unique loan program available to qualifying veterans and spouses.

VA Refinancing Options – IRRRL

Under the VA guaranteed mortgage loan program, eligible veterans may refinance their existing mortgage with an Interest Rate Reduction Loan (IRRRL). IRRRL’s, or VA Streamline Refinance Loans, help veterans refinance their current mortgage interest rate to a lower rate.

Features & Requirements of the IRRRL:

  • Closing costs can be rolled into cost of loan
  • Lender may allow reduced closing costs in exchange for higher interest rate
  • Veterans must be current on mortgage with no more than one 30-day late payment in the last year
  • You cannot receive any cash back from an IRRRL
  • You must certify that you have previously occupied the property
  • You must have financed the original mortgage using your VA Loan eligibility

VA Cash-Out Refinance Loan

This loan allows eligible veterans to refinance their conventional or VA loan into a lower rate while also taking cash from the home’s value. Just like the VA Streamline Refinance, the home must be the principal residence of the owner. Use our branch locator to contact a loan officer near you to learn more about VA mortgages.

About Inlanta Mortgage

Inlanta Mortgage is proudly celebrating twenty years in business. Learn more about Inlanta’s twenty year history here.

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

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.

Selecting a Licensed Mortgage Loan Originator

Selecting a licensed mortgage loan originator is an important part of the home buying process.  Since purchasing a home is often the biggest financial decision we make in our lives – it pays to do a little research.

1. You can begin by asking your friends, family and co-workers for recommendations. We trust our friends and family more than any other source – so don’t disregard their input. Perhaps they had a wonderful experience with a lender, maybe they didn’t. Either way, your friends and family will be truthful with you and should be happy to provide their opinion on the matter. Inlanta Mortgage is pleased that 80% of our customers are past customers or were referred by other customers.

2. Another very important consideration when selecting a mortgage loan originator is to make sure they are licensed by the National Mortgage Licensing System (NMLS). As an example, Inlanta Mortgage’s NMLS # is 1016.  You can check to see if a mortgage lender or originator is licensed by visiting www.nmlsconsumeraccess.org.  The NMLS Consumer Access website lists when the mortgage company was formed and what states they are licensed to do business in.

3. What types of loan programs does the lender support? Is the lender a delegated authority to originate USDA, VA, or FHA mortgage loans? Not all mortgage lenders are able to originate USDA, VA or FHA mortgage loans. If you are a veteran seeking to utilize your VA benefits when purchasing a home – a lender without the authority to originate a VA mortgage loan wouldn’t be of much use to you. Review the loan programs offered by Inlanta Mortgage here.

4. Next, you can do a little online research. Social media may be a joke to some, but reputable mortgage lenders maintain transparency not only by having well-functioning websites, but by having business profiles on LinkedIn, a recently updated Facebook account, and maintaining a blog (like this one here). The point is – you want to know who you are really dealing with when you are making such a big decision.  You can find Inlanta Mortgage on Facebook, LinkedIN, Twitter, and Google +.

5. Another good question to ask yourself is what type of mortgage lender fits your needs? Do you want to meet in a physical office or are you just as happy if all forms are completed online? What would you prefer? Now days, most mortgage lenders can accept applications online – including Inlanta – virtually eliminating the need for you to come into a physical office and spend hours filling out forms. However, if you prefer to conduct business in an office – make sure the lender you found online actually has one! Click here to apply online for a loan at Inlanta Mortgage.

6. You may be interested in finding out whether you mortgage lender has
in-house processing, underwriting, or funding services. When a mortgage loan originator and processor work for the same firm – there is inevitably cleaner lines of communication. Improved communications can help to resolve issues that may arise during the processing of your loan. The same idea applies to underwriting and funding – the easier it is for an underwriter or funding manager to get verification or documentation from a mortgage loan applicant – the faster the process goes.

7. Finally, speak directly with a mortgage loan originator about interest rates and loan fees. The interest rate mortgage lenders quote you is largely based upon your financial assets, income, and credit worthiness.  Closing fees differ by lender. Shop around and make sure you are comfortable with the rates you are offered and the fees associated with originating a mortgage loan. Click here to find a mortgage loan originator near you.

So we have recommended that you ask your friends and family for advice, confirm a lender is licensed, determine what loan programs they offer, do some online research, check out their social media profiles, and find out if they have
in-house processing, underwriting, and funding.

Next week, we will discuss the next step in the home buying process:

Get Pre-Approved! Why Do You Need a Pre-Approval Anyway?

Inlanta Mortgage is licensed in fourteen states and offers a variety of mortgage loan programs to suit your needs including: VA, USDA, FHA, FHA 203k, Conventional, Reverse Mortgages, Refinancing, and Jumbo Mortgage Loans. NMLS #1016