Obtaining a home loan can be a bit overwhelming at times. That is why First Ohio Home Finance, Inc. strives to provide you with the very best team of professionals who will guide you through each and every step. Working with us, you will feel more at ease as we make sure to keep you in the loop about everything. You will feel confident knowing that you have made the best financial decision for you and your family.
Needs Assessment
During the pre-approval process, a First Ohio Home Finance, Inc. loan officer will assess your specific needs and goals. We look at your credit score, loan amount and property value to determine the loan products that best suit your needs—while still offering the best rates.
Pre-Qualification
Being prequalified for a mortgage loan is the best way to know how much you are able to borrow. A pre-qualification gives you an estimate of how much you can borrow based on financial information such as your income, employment, credit history and bank account information. Your First Ohio Home Finance, Inc. loan officer will work with you to gather all of the necessary information to complete this important step in the mortgage loan process.
Pre-Approval
When searching for a new home many sellers, and even Real Estate Agents, want potential homebuyers to have a pre-approval letter from their lender before looking. This ensures that you, the homebuyer, are serious about purchasing a new home. Getting a loan pre-approval is also the best way to speed up the loan process. To begin your pre-approval process, you will need:
- Pay stubs from the most recent month
- W-2s from the last two years
- Account statements (bank accounts, stocks and mutual funds) from the past three months
Final Approval
Getting you into your dream home is our #1 goal here at First Ohio Home Finance, Inc.. Our commitment to you includes providing an accurate and efficient loan process that includes getting final approval to secure your loan. We do our very best to expedite the paperwork processing and prepare you for the closing.
Closing
This is the most exciting time for our clients, this is when the loan becomes official and final disbursements are made. Almost all of our closings take place in the convenience and privacy of your own home, and we schedule a time that is perfect for you to complete this process. Before your closing it is important to have all necessary information. For your closing, you will need:
- Your I.D.
- Proof of homeowner’s insurance
- A cashier’s check for closing costs and the down payment
Loan Application Information
To ensure that your loan process goes quickly and smoothly, your mortgage banker will require the following information for the loan application. We make sure that this information is retained with First Ohio Home Finance, Inc. and is not sold to other companies for marketing purposes.
- Applicant name(s)
- Current address for each applicant (2 years required)
- Contact number
- Place of employment (2 years required)
- Income (employment, Social Security, disability, child support, alimony)
- Social Security number(s)
- Authorization to pull each applicant’s credit report
- Purchase agreement (if applicable)
