Automated Underwriting

If you have ever wondered how we qualify borrowers so quick and how we provide some of the best technology to the borrower to locate the best rate this should help out!

First time home buyers and new home shoppers need to know if they can qualify for a  home mortgage and what their options will be. Their focal point should be obtaining a mortgage pre-qualification immediately, and benefit, by using that pre-qualification to better negotiate the purchase price of their dream home.  With today's automated underwriting systems in place, we are able to obtain mortgage approvals in minutes of receiving the loan application.

This quick method for loan approval is underwritten through the Desktop Underwriter and Originator programs from Fannie Mae (FNMA) and the Loan Prospector program from Freddie Mac (FHLMC). The prime prerequisite for this automated approval system is the ‘strength’ of the buyer. Credit worthiness ranks highest of these strengths followed by liquid asset reserves, debt-to-income ratios and other compensating factors. The documentation on this type of underwriting can be reduced to simply obtaining a property appraisal, a pay-stub, and a ‘verbal’ verification of employment. Results will vary depending on various criteria but the pre-approvals are immediate.

To see if you qualify for this automated underwriting approval system for your new home purchase or to simply refinance a current property, please feel free to contact us at anytime! We look forward to hearing from you and helping you determine the best Loan Program and the Best Rate available! If you or someone you know is in need of a mortgage home loan, we would love the opportunity to provide a good faith estimate and discuss what options are available to you.

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