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This is perhaps the most important part of the mortgage process. During this process your mortgage professional will ask for information pertaining to your income, assets and liabilities. Once this information has been collected your mortgage professional will recommend a loan program that best fits your financial needs. Prior to loan application you will need to determine the amount of down payment you will be making towards your new home and collect the following documents that should be brought with you when you make loan application:
Most recent paycheck stubs for each borrower covering the most recent thirty-day period.
Most recent two years W-2's and/or 1099's for each borrower.
Two months of the most current and consecutive banks/investment/ retirement statements for all your accounts.
If self-employed you will need to bring in the most recent two years' tax returns and copies of 1040's, W-2's, 1099's and or K-1 for each borrower.
You will also need a year-to-date profit and loss statement.
A credit report will be obtained as part of the loan application process. The credit report will show your payment history, credit limits, monthly payments and current balances.
Your mortgage professional will verify the information disclosed on your initial loan application (i.e. income, assets and liabilities).
Your 'Preferred Lender' will order a property appraisal from a licensed real estate appraiser on the property in which you are purchasing. The appraisal is done to determine the value on the property being purchased and your loan amount.
A loan decision will be issued based on four factors - income, assets, credit record, and property value. An Underwriter will review the information on your loan application and the information collected on your behalf. Additional information or documentation as required by the loan program guidelines may be requested.
You have the opportunity to establish an interest rate guarantee or "lock" the interest rate during the process up to ten days before your closing. Keep in mind that interest rates may change somewhat each day. Only you can make the decision to lock the interest rate on your loan.
It is your responsibility to contact your mortgage professional to determine the interest rate and lock in your loan. Keep in mind that interest rates can change at any time and without notice. Rates generally change a little bit each
day, sometimes lower - sometimes higher. Sometimes rates can change several times a day. If you know that the financial markets are going through a particularly volatile period, you may want to check with your mortgage professional periodically to make sure rates are at a comfortable level.
Isaacs Custom Homes and our closing agent, Community Closings (unless otherwise stated) will coordinate a firm closing date and time with you.
The warranty company, Realtor, will schedule a final walk-through of your new home before closing to make sure it is ready for you and to ensure that any contingencies specified in the commitment letter about the home's condition have been satisfied.
Prior to the closing you MUST obtain homeowner's insurance with a carrier of your choice. This information must be provided to your mortgage professional within 72 hours of closing. Your mortgage professional will provide you with the amount you will need to bring to closing. Funds needed for closing must be in the form of a certified check or cashier's check.
Your mortgage professional will go over the settlement charges with you and have you execute the Note and other applicable closing documents.
Congratulations! You are now a Isaacs Custom Homes homeowner!
Customer Satisfaction Evaluation
Customer satisfaction is very important to us at Isaacs Custom Homes. You will be asked to fill out a customer satisfaction survey regarding your home building experience. This information is used to refine our systems, processes, and employee training programs. Please give us your input to help us in our continuous effort to improve our customer satisfaction.
Selecting and purchasing a new home is one of the most important decisions we make in our lifetime. Now, it's easier than ever to get into a new Isaacs Custom Homes. Whether you're a first-time buyer or moving up to a luxury home, you can get personalized service that makes homeownership easy.
Choosing the right lender can make the process pleasant, interesting and much less stressful. Our 'Preferred Lenders' are committed to making the loan application process as fast and easy as possible, and provide one of the widest arrays of financing options in the industry to help you purchase your dream home.
Our 'Preferred Lenders' can help you turn your dreams into reality by shopping the mortgage marketplace for you to meet your current and future financial needs. We're pleased with your interest in Isaacs Custom Homes and look forward to serving you. Call us today to get started: 918-519-3440.
How Much Are My Payments?
Use our mortgage calculator to determine your monthly payment amount. Estimate your taxes and insurance so that these amounts will be included in the payment calculation. Enter amounts in the fields below and the mortgage calculator will give you your monthly mortgage payment amount!
Whether you're new to the home buying process or not, Isaacs Custom Homes understands it is perhaps the single largest financial decision you will make. Our 'Preferred Lenders' have skilled mortgage professionals who have the experience to guide you through every step of the home buying process.
They'll review your financial status and provide important feedback on the strength of your buying power. Our 'Preferred Lender' consultants offer competitive financing options to make owning a new home more affordable.
As a customer satisfaction leader and innovator, our Isaacs Custom Homes 'Preferred Lenders' have loan programs for virtually every buyer, and they offer:
Up-Front Approval so you can know how much home you can afford
A complete line of loan programs, including zero- and low-down payment options
Flexible payment options to give you more choices
Home loan options for buyers with less-than-perfect credit
Financing options to help you with many of your Isaacs Custom Homes Studio choices
Local decision-making so there's less hassle and less wait
Isaacs Custom Homes L.L.C.
705 West Lowre, Suite 101, Claremore, OK 74017
Office: (918) 342-3323, Fax: (918) 341-3441
e-mail: isaacscustomhomes@yahoo.com
Dave Isaacs
e-mail: disaacs2008@yahoo.com
Cell: 918-519-3664
David Isaacs Jr.
e-mail: davidisaacsjr@yahoo.com
Cell: (918) 519-3440
Matt Isaacs
e-mail: isaacsmatthew@yahoo.com
Cell: (918) 640-4029
"BUILDING HOMES TO FIT YOUR LIFESTYLE"
Website Designed by JAF EPS 918-272-9409 e-mail: jafeps2004@yahoo.com
