October 1, 2013
By now you’ve probably heard the news that the government shut has taken effect and lots of federal employees are stuck at home on an imposed vacation by caused by either the democrats or the republicans (depending on who you voted for.) But we’re not here to talk politics, because this is our mortgage blog, however this little hiatus has caused lots of questions for the home loan world, and it will affect those of us in Lee’s Summit, but maybe just a little bit. So here are the answers to some of the questions we’ve gotten the most today.
Can I still get an VA, FHA or USDA loan while the shutdown is going on?
- Yes, you can still get a VA loan during the while the government is not working. Because the VA is actually not closing down for this event.
- Yes, You can still get an FHA loan. The FHA has said it’s automated systems and employees will continue to process home loans.
- No, you will not be able to proceed with your USDA loan. For the short time ahead it looks like the shutdown will stop USDA loans.
What does the future hold for the home loan industry.
- The short answer is currently we don’t know. If the shutdown lasts for quite a while then we will see more impacts due to people not being able to get their tax transcripts and other governmental documents. If the shutdown isn’t very long then we should see smooth sailing.
I’ve already started the mortgage process will my home loan still be processed on time?
- Yes, for the most part we shouldn’t see the government shut down delaying loans that are already in progress. (however, this varies for each file – depending on documentation and other issues.)
If you have any questions feel free to call us at (816) 268-4025 or you can get pre-approved for a home loan online here: KC Loan Tips Application.
September 27, 2013
Qualify for Home Loans Kansas City may appear to be a frightening task but it’s actually not a tough process. In reality it’s really very simple to do. The first thing that you will need to do is get pre-approved or (pre-qualified) to your mortgage loan.
This is the first step in any home loan process and most realtors will not take you to look for any homes until you’ve got taken this step. A great local lender (like us) may have multiple options so that you can get pre-approved. The simplest method so that you can do it 24/7 is to surf on over to our web site the place you’ll be able to fill out a pre-approval online in a secure and safe environment. Click on here: KC Loan Tips Application. Or if you happen to not be a fan of the internet you can always call us at (816)268-4025, (Monday – Friday 9AM-4:30PM).
Once you have taken that step you are effectively in your way to Qualify for home Loans Kansas City. The following step will be to bring over to us some documentation of what you’ve got said in your pre-approval process. We’ll want copies of your W-2’s, your financial institution statements and a number of other other documents so we can confirm your information and take a look at any potential red flags in your mortgage process. Take into account there are minimum credit score scores that you will have to satisfy to qualify on your mortgage loan.
That is a reasonably quick view of the process of and there’s more to it that you simply in all probability won’t ever know about (but we’ll pull the curtain back just for you!) Once all your documents have been turned in and we’ve accomplished some work organizing the paperwork we’ll send them to underwriting and order an appraisal on the home you wish to purchase. Finally as soon as all of that comes back in we’ll let you understand when you’re Clear to Close and you’ll begin picking your closing date!