Considering you are the marketing director at your mortgage company, I'm guessing you understand the basic concepts as set forth in the TILA. Seems like you've posted "trigger terms" in your answer but you seem to have omitted the interest rate and APR as required by TILA.
Regulatory standards exist for a reason; we mortgage professional need to be super-sensitive to how we are perceived by our prospective clients. Adhering to regulatory standards is the best place to begin earning back the trust of the consumers.
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services
â€¢ 580 Platform
â€¢ we also recognize alternative trade lines
â€¢ less overlays
â€¢ in house funding, processing and underwriting
â€¢ 620 credit on conventional
â€¢ 47% DTI ratio
â€¢ 3.5% down payment
â€¢ close the average loan for Refi /new purchase in 21 days
R.H. Lending, Inc.
6209 Colleyville BLVD
Colleyville, TX 76034
Branch NMLS: 965158
For an immediate Pre-Qualification of potential buyers, please see LINK below to fill out an application via our Secure Website:
NOTE: Once a barrower/client is pre-approved, The letter is only good for 60 days
1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.
3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
Have an amazing day!