Okay Valentines so You are shopping for a Lender
What are the pieces of information to compare?
A CHECKLIST FOR YOU
FICO
NEEDED
RATE AND APR
HOW LONG DOES IT TAKE TO CLOSE
HOW DO YOU COMMUNICATE
WHAT PAPERWORK DO I HAVE TO GIVE
HOW MANY PAGES
HOW MANY YEARS HAVE YOU BEEN LICENSED
PDF NOT A JPEG PHOTO
WHY
Points
Underwriting
processing fee
Loan to
value
Minimum
loan
Down payment
Reserves
Property
type
Condo requirements
Non warrantable
condo
Rehab
Cash out
Vesting
requirements
Borrower
type
STATES YOU ARE LICENSED
MINIMUM LOAN AMOUNT
Number
units
4-8 units
FHA Loans
USDA
Loans
VA
Loans
Fannie/Freddie
Prime
Mortgages
Jumbo
Loans
DSCR
Loans
Bank
Statement Loans
Foreign
National/ITIN
Alt-Doc
Loans
Non-QM
CDFI
Rental
Loans
Hard Money
Due in
X
Prepayment
penalty
Buy out
of prepay
Fix
& Flip
Bridge
Loans
P&L
Loans
Nonprime
