Buying a house is a big deal and the down payment you make on your home will determine what kind of mortgage you can get, how much it will cost to purchase your new property, the interest rate offered to you, and the types of additional costs that will be associated with your loan. In …
How Your Down Payment Amount Can Affect Your Mortgage Read More »
When you buy or refinance a home with Warp Speed Mortgage, your loan application will enter a unique loan process, called our Automated Underwriting System, or AUS, for a quick and fast determination of approval. From there it will be reviewed by the Underwriting team. Underwriting will review your application in more detail to determine …
The Processing Stage in the Digital Online Mortgage Process Read More »
You may be surprised to learn that 1 in 4 Americans have an error on their credit report. While many consider credit reports to be the source of truth for your financial history, the fact of the matter is, with the volume of data credit reporting bureaus are bringing in, errors on some reports are …
If you’re interested in buying a new home or refinancing a property, using mortgage calculators can help you do some of the hard math that comes along with the home financing process. Warp Speed Mortgage offers mortgage calculators that can help you determine your estimated monthly mortgage payment, how much home you can afford, the income …
The first step in the home financing process is getting pre-approved. Once you’ve been pre-approved you’ll have a good idea of how much you can borrow to buy your dream home. During pre-approval, you will be asked to provide employment history, financial information that ideally demonstrates good credit, a stable income, a low debt-to-income ratio, and …
Steps to Take if You’ve Had Trouble Getting Pre-Approved Read More »
If you’re preparing to buy a new home, you’ve likely already heard all the mortgage jargon terms that lenders tend to throw around and one of the most common terms are traditional and portfolio mortgage loan options. Just from the names, it can be hard to tell what these terms may be referring to, so …
If you’re looking to achieve your home financing goals, you know a big part of the process is the closing experience, or the process where you sign all your documents to finalize your loan – some, all, or none of which can be done remotely (state restrictions do apply). There are several types of closing …
Everything You Need to Know About eClosing and eSigning Read More »
From flying, to purchasing certain items, to taking out a loan, ID verification is a necessary part of everyday life. During the mortgage process, you’ll need to have your identity verified to protect against fraud. During a traditional transaction, this would be done by showing a government issued photo ID to your loan officer. What …
Online Digital Mortgage Technology: Digital ID Verification Read More »
Once you have moved through the majority of your online digital mortgage process, you’ll sign your closing documents and have them notarized by a notary. Traditionally, this process had to happen in person, typically in your loan officer’s office, to have all documents signed and observed by a notary. Today, digital technology allows this process …
Digital Mortgage Technology: Remote Notarizations Read More »
If you’ve been considering beginning your home buying journey for the first time, you may have heard some less-than-favorable stories from your family and friends about delays experienced in the traditional home financing process. Oftentimes, people will experience delays that can have a real impact on the time it takes to complete their home loan. …
