Do you have any up front fees?
No. The only up front fee is that you pay for the appraisal after we have received your conditional loan approval. This can be done with a credit card and is paid directly to the appraisal management company. Presently my favorite lender has an appraisal rebate, reimbursing the cost of the appraisal at closing. ($500-$600 credit)
How Is Lake Worth Beach Mortgage Inc paid on my loan?
Lake Worth Beach Mortgage is paid by rebate from the end lender. Interest rates vary due to market conditions. You can pick a rate with no points or you can pay discount fee to get the rate lower. Ask us about this.
How long does it take to purchase a home?
It partly depends on you and your file and your ability to gather the appropriate documentation but the standard file goes through in about 21 days.
Here is a sample time line of the initial stages of purchasing a home..
- Let’s say you tell me you are ready to purchase a home. We will give you my standard checklist that we will review. Lake Worth Beach Mortgage does not pull credit until we have seen your tax returns and bank statements and debt ratios and cash to close checks out.
- Let’s say on Friday we pull credit and issue you a pre-approval letter.
- On Saturday you make an offer on a property.
- By Monday your offer is accepted
- By Tuesday you will receive disclosures from us based on the property address. You can E-sign these disclosures the same day.
- While this is going on you are within the inspection period of the contract so you can pay for a home inspection to make sure the home is sound with regards to the roof, electricity, plumbing and everything else.
- By Wednesday I will submit your file to underwriting.
- By Thursday I will have your conditional approval in hand and will review this with you.
- By Friday we order the appraisal which will take a week to come back.
While all this is going on we order title and gather all of the necessary documentation to fulfill the conditions of your conditional approval.