The Process - 7 Steps
In order for us to start the loan process, one of our industry leading Mortgage Banker's needs to work with you to get a full understanding of your home financing goals. Your dedicated Mortgage Banker will be your primary point of contact and guide through the entire mortgage process.Wyndham Capital offers some of the most competitive pricing nationwide with one of the widest arrays of loan programs available. Our Mortgage Bankers are not compensated on the rate or fees associated with your loan, which means your dedicated Mortgage Banker will focus solely on tailoring the best program options at the most competitive pricing for your needs. They are your advocate and trusting adviser during the loan process and are fueled by offering our clients the best possible loan at the lowest possible costs.
We take your application and begin the qualification process.In order for us to complete your mortgage application and find the best available loan options, we need to start the qualification process. This includes a credit inquiry. Every mortgage company requires this, and it only takes a few seconds. It's quick and easy, but we do need your permission. With this information, we will work with you to tailor the best loan options available.
Once we have assessed your mortgage goals and completed the initial qualification process, a Wyndham Capital loan specialist will work with you to find the best loan options for your needs. This is the most important part of the transaction and what truly differentiates your Mortgage Banker from every other Loan Officer in the mortgage business. How is this done? Each of our Mortgage Bankers are experts at asking the right questions during the qualification process for the best understanding of your unique financial goals.
- It is our goal to provide our clients with more than just a mortgage loan. We strive to show our clients how a mortgage loan can be leveraged for a much larger financial picture that can create financial freedoms above and beyond initial awareness.
Once you have selected the perfect loan option, we will begin the process of collecting the information needed for your loan.
This documentation is required by all lenders for final loan approval and timely receipt of loan documentation is crucial for insuring a smooth loan process.
The documents that are associated with your mortgage transaction are below:
- Federal form 4506 - T
- Borrowers Authorization
- 2 year's income documentation
- PayStubs
- W-2s
- Tax Returns ( if self employed )
- Copies of all mortgage statements
- Asset Documentation
- Home Owners's Insurance Information
- Certified Photo Identification
- Driver's License
- Passport
- RESPA documentation ( preliminary disclosures )
You will be entitled 24 / 7 access to a private, password protected web-site to check the status of your loan at any time.
This is required for both home buying and refinancing, and every mortgage lender must institute 3rd party services for aspects of the transaction. These services can included credit reporting, title, and appraisals as examples:
- A dedicated appraiser will be reaching out to you within 24 to 48 hours of locking your loan. It is VERY important that you schedule your appraisal as quickly as possible to avoid delays.
Once your appraisal is complete and we have verified your income and assets, we'll get to work underwriting your loan. Thanks to state of the art technology, we can finish this step very quickly - sometimes in just a few days.
When everything is in place and you're ready to move forward, we will schedule your closing. For your convenience, we'll come to your home, office, your attorney's office, favorite coffee shop... you name it. It's just that easy.
