When you get pre-approved for a home loan what obligations do you have to use that lender in your transaction?
476208
A pre-approval entails a lender going through and verifying your information (underwriting your income, assets and credit).\n\nYou would then get a pre-approval letter.  Yes, there is typically a charge for this.  There is applcation fees (3rd party) which they'd collect in the form of an application fee.\n\nSure you can get pre-approved with any and every lender you'd like to go to... might hurt your credit though (even though it's not supposed to).\n\nYou are not commited to go with the lender that pre-approves you.  But, you should confirm this via their paperwork.  A company that does not charge an application fee will most likely have an application fee that is waived upon initiation of a mortgage.\n\nPre-approvals are a lot of work, and take time... use the lender that you want to use.  We all have basically the same loan products anyway.
548294
Talk to the bank that did the loan. Maybe they can add your spouse on the paperwork. Hope this helps.
183719
A pre-payment penalty really does not matter.  Nothing matters except for the fact that if there is enough equity in your home, then you can continue to refi.  Whether it is a smart idea financially, that should be the question.  This is not recommended, unless the cash you are recieving back from the refi is going into accounts which have interest rates that are going to give you a good enough return and heavily outweigh the interest in which you are paying to the bank.  Or, if you are going to invest the money into another peice of real estate.  Other than that, I would highly recommend against this practice.
222776
get the delivery...it should convey rights of ownership limited to debt obligations.....what about the loan encumbering the property?
513588
Depends on the place or person you go through for the pre approval, but most places do not charge for the pre approval itself. You have the option to decline the loan if you are not happy with the rates. Like I said it depends on the place and or person so be sure to ask the loan office where you choose to go for a pre approval before you proceed with the pre approval.
532717
They don't force you to use their preferred lender, they just intice you to use them with all the incentives.\n\nYou can use any lender, but you may lose the added bonuses.\n\nI have fought this for years, but it is impossible to get around it.
123435
Assuming you'd like to start off working with a good Realtor who will take care of your real estate needs now and in the future, I suggest finding a Realtor who works for and by referral. They will not be spending time on door knocking etc and keep in touch with their past clients. This way, they'll have more time to work with you during the transaction.\n\nI'm a Realtor but not in your area. However, I have met other Realtors in person who are in your area and run their business in the same way I run mine. If you'd like a Referral to one who's professional and runs their business like I run mine, go to http://www.ReferredPro.com and submit your request. I'll forward your request onto a qualified Realtor local to you. Most of the Realtors I network with, I have met in person. I won't give your information out without your approval. So no worries there!
521469
Loan officers take the information that you provided to them an send it to lenders. The review the information prior to sending th stuff to the lenders to ensure that you have provided everything they need to get you an approval. They order your title search, appraisal, credit report, and anything else that may be needed. They also speak with the lender representatives to ensure that your loan is coming along as hoped as well as find out the status of the approval, the conditions they are sending in as well as anything they may still need to get form you to get a final approval. \n\nA broker is basically your lender liaison to ensure that they loan process goes smoothly. If there are any problems, you may never even hear about them because the loan officer will find out about it and take care of it so as to not alarm you. They also may submit your loan file to other lenders if the first one did not work out as they had planned.
463520
The lender may have a form to fill out - Ask.\n\nIf not...\n\nI____(name)______,of______(address)______, _____(relationship-mother/father/sister/etc.)______, of ___(recipient of gift)________ will give/have given him/her a gift of $__________.\nThis is a bona fide gift and there is no obligation, expressed or implied to repay this sum at any time.  The donor herein certifies that the funds given to the recipient were not made available to the donor from any person or entity with an interest in the sale of the property including the seller, real estate agent or broker, loan officer, or entity associated with them.\nSignature and date of both donor and recipient.\nDonor's phone number (with area code)
743857
The purchase agreement needs to have a clause specifying that the terms are contingent on financing.  If not...you may be in trouble.
118828
Well you should ask first of all for a good faith estimate from each lender, to see which one of the is giving you a better deal. You also need to know if they're giving you a pre-payment penalty, If so for how long. (average pre-pay is about 2 years, unless you have really bad credit) If you have Excellent credit you shouldn't get a pre-payment penalty. thae situation varies depending on your Fico Score. Also Find out how many points they're charging you up Front and if they're getting anything back form the lender after close of escrow. All this matters because. Also if you're financing 2 new loans make sure that they're Fixed, so that your monthly payment doesn't change every month. Also HELOC's loan interest rates change every month, and the rate is going up, which means that your payment will also go up.  So be very careful about this.
455420
A common misconception when buying a home is that you are supposed to contact the Realtor 1st.  Unfortunately, even Realtors will tell you this.  THIS IS NOT TRUE!!!  The Realtor does not negotiate the interest rate with the bank.  The Realtor does not do the paperwork with the bank to get you pre-approved.  The Realtor does not have discussions with the underwriter to plead your case....etc...etc...etc...  The mortgage company does these things.  The Realtor does not.  Please do not contact a Realtor for a mortgage, please.\n\nAs far as getting pre-approved and what you need, please contact me and I can get you pre-approved in a matter of 24 hours or less.  Contact me at timothy.kazee@americanhm .com and we can talk.  See ya soon!!!!
322201
Depending on the type of loan you need for your new home, you need to have a DTI (debt-to-income ratio) between 45-50% opn average for a purchase. It makes sense to refi your home to ensure you are prequalified to purchase the new home. It is difficult for a mortgage broker to provide you with a preapproval letter (usually required by a Realtor to prove to a seller that you are a ready-willing-able buyer) unless you meet this DTI guideline.  However, ask what your DTI is and ask that to see it on the application. Worst-case-scenario (although unlikely) and if the mortgage broker is unscrupulous and your DTI is fine, they could be trying to get two deals out of one.  It is very common to recommend a refi prior to listing your home for other reasons as well - for example if you find your dream-home and you put in an offer, but your current home hasn't sold, your purchase offer will have to have a 'contingent upon current sale' clause. This could become a heart-breaking 'deal-breaker' if your home doesn't sell before the offer expires. A seller cannot be expected to hold the sale for you, while you are waiting to sell your home. Also, it is good to have the cash from your refi in the bank (or better yet, invested) as 'reserves'. This makes a lender feel more confident in lending you money for a hew home, because the extra cash removes risk by showing you could cover your new mortgage payment if for some reason you were to become unemployed. I hope these three reasons help you become more confident with your broker. I know it is scary for everyone, and the media only makes it more confusing for consumers. I commend your questions!  Keep asking, information is free!
1018559
Depends on credit score, many lenders will do it, they will just make you pay the behind amount from the refi amount/cash out amount.
340242
If you already own your home, you can take a loan out for both amounts as long as you have enough equity in your home. If you are purchasing a home, you can not typically add additional money to your loan.
846967
of course a lender will finance the house. As long as the house is worth at least what they are asking, you shouldn't have any problems financing the house.
873720
Just phone up any mortgage company and ask them. If they don't do it themselves they might know who will.\n\nJems xXx