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

Testimonials for Fort Myers, Florida Loan Officers

Fort Myers FL Mortgage Loans
 

Customer Testimonials for Fort Myers, FL Loan Officers

Inlanta Mortgage loan officers strive to provide our customers with the best service available. Our loan officers are dedicated to providing the kind of service that our customers expect and deserve. Here are some great customer testimonials provided by customers for our Fort Myers, Florida mortgage loan officers.

Jim Marcinkowski – Fort Myers Branch Manager

“Their professionalism, guidance, and integrity helped us tremendously. Our realtor and friend’s recommendation to have them was well worthwhile. We shall recommend them highly to others in a heartbeat.” – Nick and Linda M.

“With this being our first mortgage and our first home, we were definitely nervous about the whole process and had a lot of questions. Jim, Barbara and Frank were all very helpful through the process and kept us updated through the whole thing. All of them were so knowledgeable and easy to work with.” – Anonymous

“Prompt closing and great customer service.” – Charles C.

“Communication, helping to assemble the required loan information, steadfastness, determination and caring about obtaining a successful outcome for the loan applicant.” – Anonymous

“Jim and Barb were very helpful!” – Anonymous

Barb Marcinkowski – Fort Myers Loan Officer/Processor

“Without Barb, our sale would not have happened. She shows genuine care, is very knowledgeable and we felt like we were a priority to her. Barb had a genuine care for my family’s needs. She wanted to give our family a start and did everything in her power to give it to us.” – Michael C.

“Barbara was very friendly, personable and knowledgeable. She even came to me to collect necessary paperwork.” – Anonymous

“Barbara Marcinkowski was fantastic. Very attentive to all my questions and a huge help in getting me prepared for my closing. She is a wonderful asset to the Inlanta team.” – Breanna S.

“Inlanta Mortgage was better than expected. They gave me an answer right away to let me know that I was approved in less than three days. Thanks Barbara in making it easy in buying a home.” – Eloy M.

Frank Grisafi – Fort Myers Loan Officer

“Frank kept us informed as needed. The closing date was moved up. Things went well.” – James & Judy C.

Contact a Fort Myers mortgage loan officer by calling 239-936-4232 or visit them online at www.inlanta.com/fort-myers. Testimonials for Fort Myers, Florida loan officers have been published with express permission of the customer.

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

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

Headquartered in Brookfield, Wis., Inlanta Mortgage was established in 1993. We are currently celebrating our 20th Anniversary! 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.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS #1016. Inlanta Mortgage is proud to be named to the Scotsman Guide Top Mortgage Lenders 2012 list and to be among the Top 100 Mortgage Banking Companies in America in 2012 and Fastest Growing Milwaukee-Area Firms.

 

Testimonials for Kearney Missouri Loan Officers

Kearney MO Mortgage Loans
 

Customer Testimonials for Kearney Missouri Loan Officers

Inlanta Mortgage loan officers strive to provide our customers with the best service available. Our loan officers are dedicated to providing the kind of service that our customers expect and deserve. Here are some great customer testimonials provided by customers for our Kearney Missouri mortgage loan officers.

Carey Hiatt – Kearney Branch Manager

“Carey did great work and was extremely knowledgeable and professional. Making this usually painful process a great experience and allowing us to live in the home of our dreams. We will be recommending him and Inlanta to anyone looking to buy a home.” – Anonymous

“Did a great job letting me know what was going on and keeping me updated on all the info. Very polite and friendly as well. Overall it was a good experience.” – Richard W.

“I was very pleased with Inlanta and the loan officer I chose. He was very prompt on getting back with me on any questions or concerns I had. The whole transaction was very smooth and the closing date went great. Very pleased with Carey Hiatt and would use him and recommend anyone to him in the future.” – Russell and Jeri S.

Roy Pointer – Kearney Loan Officer

“Once the ball was rolling there were very few circumstances that slowed the process.” – Anonymous

“Very friendly, professional service, and really connected with me on a personal level.” – Anonymous

“Have worked with Roy Pointer in the past and, as before, exceptional service. He’s always gone above and beyond expectations. Also very nice and personable.” – Cheryl C.

“Roy Pointer was easy to work with and always ready to assist us with any type of questions.” – Anonymous

Contact a Kearney mortgage loan officer by calling 816-903-4663 or visit them online at www.inlanta.com/kearney. Testimonials for Kearney Missouri loan officers have been published with express permission of the customer.

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

Last year, Inlanta Mortgage proudly celebrated twenty years in business. Learn more about Inlanta’s twenty year history here.

Headquartered in Brookfield, Wis., Inlanta Mortgage was established in 1993. 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.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS #1016. Inlanta Mortgage is proud to be named to the Scotsman Guide Top Mortgage Lenders 2012 list and to be among the Top 100 Mortgage Banking Companies in America in 2012 and Fastest Growing Milwaukee-Area Firms.

 

Five Star Mortgage Professionals

Five-Star-Professional

What is a Five Star Mortgage Professional?

What is a Five Star Mortgage Professional? A Five Star Mortgage Professional undergoes a vigorous research and evaluation process to identify if they provide quality service to clients. The research methodology allows no more than 7% of service professionals in a given market to qualify for the Five Star Award.

The Five Star research team reached out to clients, peers, and industry experts to find out if they had worked with a mortgage professional recently. Those who said they had worked with a mortgage professional were then asked to name and rate that individual according to criteria such as overall satisfaction.

Inlanta Mortgage Five Star Professionals

Inlanta Mortgage is pleased to announce that several of our originators have earned the prestigous distinction of Five Star Mortgage Professional:

These mortgage professionals are dedicated to providing superior service to their customers that result in life long relationships. Whether you are a first time home buyer, purchasing a second home or need to refinance – these loan officers have established track records of customer satisfaction. Contact any of our loan officers for a consultation or submit a secure mortgage application on their websites (linked above).

About Inlanta Mortgage – Celebrating 20 Years

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 named to the Scotsman Guide Top Mortgage Lenders 2012 list and to be among the Top 100 Mortgage Banking Companies in America in 2012.

 

Testimonials – Janesville Wisconsin Loan Officers

Janesville Wisconsin Testimonials
At Inlanta Mortgage, we strive to provide our customers with the best service available. Our loan officers continually go above and beyond to ensure that they provide the kind of service that our wonderful customers deserve. Here are some great testimonials for our Janesville, WI branch.

Craig March
Branch Manager

ʺI was very happy with the experience, the process was easy for me but due to some problems with my amount they came up with a loan that worked good for me, they never gave up on me.ʺ – Barbara M.

ʺFast, easy process. Our loan officer responded quickly and we were very confident in his expertise.ʺ – Judith and Harry H.

ʺInlanta did ALL the work for our refinance in a timely manner, made the process simple, and shopped a great rate too. Craig March, our representative, is extremely knowledgeable, friendly, and professional.ʺ – John S.

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.

Jim Snyder – A Top 1% Mortgage Originator

Jim Snyder Named Among Nation's Top 1% of Loan Origninators

In the 2012 edition of Mortgage Executive Magazine, Jim Snyder was named one of the Top 1% Mortgage Originators in America 2011. Jim is the Branch Manager of Inlanta Mortgage’s Pewaukee, Wisconsin office.

Mortgage Executive Magazine compiled the most comprehensive list of The Nation’s Top 1% of Mortgage Originators. The minimum eligibility criteria are a total “personal” production of at least $30 million in 2011. Mortgage Executive Magazine seeks to recognize and celebrate the service, dedication, and hard work that leading mortgage professionals put into serving their clients during the home loan process.

Inlanta Mortgage’s is pleased that Jim is being recognized as a Top Originator in America due to his hard work and dedication to providing customers with the best service.

Conact Jim Snyder at 262-696-5045 or find him online at www.inlanta.com/Jim-Snyder.

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.

First Weber Celebrates Agent Achievement in 2011

First Weber Celebrates Agent Achievements in 2011

This past Wednesday Inlanta attended the First Weber 2011 Awards Breakfast at Potawatomi Bingo and Casino here in Milwaukee. It was a good opportunity for Inlanta to participate in the celebration of the achievements of so many great agents at First Weber and the terrific organization First Weber has built as a leader in Wisconsin real estate. Click here to find a First Weber Agent near you.

The theme of the awards day was the “new normal” and how First Weber has adjusted in the past year to meet the challenges of a different economy and real estate market. The awards were presented to the top performing agents who adjusted to the changes of the market and found out how to be successful in the “new normal.” Inlanta congratulates the recipients on their achievements.

Even though the awards ceremony focused on 2011’s agent record achievements, First Weber announced they have posted record numbers already for January and February 2012. Inlanta Mortgage and First Weber both agree 2012 is going to be a great as it appears there are very positive signs of slow and steady recovery. Inlanta values the relationship with First Weber and is committed to helping First Weber agents and their customers find the best financing solutions to achieve their sales and closing goals, along with helping buyers and sellers enjoy smooth, hassle free financing. Click here to find a licensed mortgage professional near you.

“We were struck by the number of tenured agents at First Weber, clearly a testament to the professional and dedicated leadership team that has built this company,” Nicholas DelTorto, Inlanta Executive Vice President, said. “So many people have been there 5, 10, 15, 20, 25, 30 and even 35+ years – it really is a statement of how strong they are and will be in the future.

Congratulations to all the winners! We know 2012 is going be a GREAT year!

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.

Are You Ready to Buy a Home?

Interest rates have hit historical lows and homes are more affordable than ever before…so are you ready to buy a home? If you have a steady source of income and have been working on a regular basis for the last few years – now may be time. Other questions to ask yourself:

  • Do you generally pay your bills on time?
  • Do you have a limited amount of long term debts (like a car payment)?
  • Do you have money saved for a down payment?
  • Can you afford a mortgage payment every month plus additional costs for taxes and insurance?

If you said yes to most of these questions, you are probably ready. If you said no, you may want to consult with a licensed mortgage professional and see how to better prepare yourself for the home buying process. Inlanta Mortgage is also happy to work with borrowers with less than perfect credit. Contact a licensed mortgage loan officer today for a free mortgage loan consultation.

So You Are Ready – From Renting to Owning

When you purchase a home you are building equity – an investment. Although real estate moves in cycles – over the years real estate has consistently appreciated in value. Homeownership also comes with tax breaks. The mortgage interest you pay is deductible on your tax return.

Owning a home also provides protection from rent increases, the freedom to decorate or remodel (no need to ask the landlord’s permission), and security of knowing you will be in your house long term.

Buy a home and paint the walls any color you want  – because they are your walls!

Find a licensed mortgage loan officer near you with our Inlanta Mortgage Branch Locator.

Rates Keep Dropping…but for How Long?

According to Freddie Mac, rates on 30-year fixed-rate mortgages averaged 4.15 percent with an average 0.7 point for the week ending Aug. 18, down from 4.32 percent last week and a 2011 high of 5.05 percent in February.

These are new historical lows for 30-year fixed rate loans not seen since the week of November 11,  2010 when 30-year fixed-rate mortgages hit 4.17 percent. Rates on 15-year fixed rate loans haven’t been this low since 1991.

All these rate drops and the Mortgage Banker’s Association says that the demand for mortgages are down 13.5% from a year ago. Refinancing applications accounted for nearly 8 of 10 loan requests and up 8% from last week.  Some lenders are having a hard time keeping up with the refinancing boom – but not Inlanta Mortgage. Consult a licensed mortgage loan professional to discuss if refinancing is an the right option for you.

Mortgage Rates Fall – Refinancing on the Rise, Homes More Affordable

Many homeowners are taking advantage of record low mortgage rates. According to the Mortgage Bankers Association, refinance application volume has increased by 63% over the past month – up 21.7% from last week. If you own a home, have a good job, and can qualify for a mortgage – refinancing has the potential to reduce the amount you pay in interest over the life of your loan, reduce you monthly mortgage payments, and whittle down your principal mortgage balance faster. Obviously not every homeowner is in the same boat – so our licensed professional mortgage loan officers are ready to help you determine if you are in a good position to refinance.

S & P’s downgrade of the U.S.’s credit rating, the subsequent drop in stock market values, and European debt concerns have contributed to record low mortgage rates. Freddie Mac’s weekly survey of conforming interest rates lists 30-year fixed-rate mortgage rates at 4.32% for the week ending August 11th (today).  According to the National Association of Realtors affordability index – homes have never been more affordable than any other time since the group began keeping track.

Refinance? New Purchase? For more information, contact an Inlanta Mortgage Loan Officer here or locate a branch near you here.