Mortgage Secrets Mortgage Secret #1 If you are new to the loan process and find the terms confusing or the paperwork overwhelming, you are not alone. There are three main categories of information that lenders require of borrowers. Remember them as The 3-C's: Your credit score is the first number we look at to determine the best programs for which you are eligible and at what interest rate. Your score and credit history help lenders understand how you have managed your previous financial obligations. To make sure we're presenting your best information, we combine data from Experian, Trans Union, and Equifax. We analyze your information, and prepare options for you to review and ask questions. Through these discussions, we can determine the best strategy and negotiation tactics to secure you the loan you want at the best price. The process starts from your computer, in the privacy of your own home or office. You apply at www.MegaJumbo.com, and Olympia Financial Services does the rest for you. We evaluate your credit,your requested loan amount, the current value of your home, your income, and your liabilities. We evaluate two key ratios: your loan-to-value ratio (LTV) and your liability-to-income ratio. This information will help you understand how comfortably you can satisfy the loan committment. Your capacity to repay is determined primarily by your credit history and your income. Your income can be presented to the lender in two ways, with supporting documentation or without. Usually, the more income you state and prove, the better your rate. Please know that there are no-ratio and no-[supporting] document programs available. Olympia Financial Services is available to discuss options and counsel you on the best application strategy.
We hope the 3-C's helps demonstrate that the Olympia Financial Services loan process can be straight forward and efficient. Do not let complicated loan jargon and process intimidate you. If you are considering a purchase or refinance, we will lead you in the necessary direction to achieve your goals. Olympia Financial Services is available to you via phone, email, and website. Contact us. We are passionate about our industry and helping clients build their futures. We have access to over 107 different lenders and read every rate sheet and underwriting matrix available so that we can present you with strategic options. We ask tough questions. We present clever options. Over the years we have worked through every type of situation with every kind of borrower and lender. The Olympia Financial Services corporate structure provides a forum to exchange information around the nation and around the clock. Let's talk about your situation and your future. We can make a smarter decision together.
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