You're looking for a home financing solution.

You've just found it.

HOME PURCHASE

Congratulations on your decision to buy a home! Owning a home is a wise investment...it builds equity and provides financial stability that cannot be acquired by renting.

The process of buying a home can be overwhelming, and you probably have many questions. We can help you sort out all of your financing questions. We have a number of tools available when you call to help answer your questions. We also offer loan programs from hundreds of different lenders nationwide, so we're sure to have a loan to suit your needs.

	If you are looking for a zero or low down payment program, we can help!
	Looking for the lowest payment, we've got that too!
	Do you need a loan, but cannot prove your income because you are self employed?  We've got a loan for you.
	How about loans for blemished credit?  You've come to the right place!
	Want to pay interest only because you're only going to be in your home for a few years and want the lowest payment? You've got it!
	Have a recent bankruptcy but still want to buy a home?  You bet.
	Looking to buy investment properties to increase your future cash flow?  We have your loan!

Nowadays, there are all sorts of programs available to purchase a home, including programs with ZERO DOWN PAYMENT.

Advances in technology and more liberal borrowing guidelines have led to the creation of these incredible programs.  We have computer programs that search through these thousands of programs to find the one that is just right for you.  We also provide  software for you so you can experiment with loan amounts, down payment amounts, interest rates, etc. as you shop for your home.

Click here to download your copy of the software

(COMING SOON!)

Let's talk a little about buying a new home.  Purchasing a new home can be a daunting task when you don't even know where to begin.  Do you find your dream home first and then try to get financing?  Or do you arrange for financing and then search for a home?  Either option will work.  But if you want the whole thing to go smoothly, you should arrange your financing in advance.  You will know exactly how much home you can afford, exactly how to structure the purchase offer,  exactly how much money you will need for a down payment and closing costs, and exactly the amount of time required to close the loan.  This puts you in a powerful position as a homebuyer.  You see, you know exactly what you will offer the seller, and ask the seller to offer you, to make the deal work.  And you can close the transaction quickly, thereby eliminating the chance that the seller may "change his mind".  You also have an advantage over other home seekers because you are ALREADY APPROVED!  If you were the seller, would you want go with a sure thing or would you cross your fingers and hope that the buyer could get financing while you effectively took your home off of the market and waited 30-60 days?  The home seller wants money, and sooner is better than later.  Can you see that you have a distinct advantage?

Pre-Qualified, Pre-Approval, Approval... What Does it all Mean?

Some buyers think getting pre-qualified is the same thing as getting pre-approved when in fact they are quite different. While definitions change in the market, below are general descriptions of what each process entails.

Pre-qualification
Getting pre-qualified is simply getting an idea of the price range you can afford. It is based on your stated income, assets, and liabilities. With a pre-qualification, your information is not verified and the loan your pre-qualified for is not guaranteed. With e-MoneySolutions Mortgage 1st Approval, you can get pre-approved before you shop for a home and the loan amount you qualify for is guaranteed.

Pre-Approval
During the pre-approval process is when the information you provide a lender is verified. There are two phases of the Pre-Approval process. In the first phase you give your lender permission to obtain your credit report. Your credit report will often confirm the information you provided them about debts, your employer and how long you have lived at your current address. It will also give them your credit score, or your credit rating. If the credit score falls within the acceptable range for the program that you're interested in, you become pre-approved. If your credit score is too low for your preferred loan program, your lender will discuss your credit report with you. (See Credit 101) Some erroneous information on the report that can be removed to improve your rating, or perhaps you have a situation that the lender will allow an exception. If you don't qualify for a particular program, there may be another program that best fits your situation; your lender is there to help you work through this process and find the right loan for you.

Once this phase is completed, most lenders consider you pre-approved for a home loan. However, to help you avoid making the common mistake of extending an offer beyond your buying power, e-MoneySolutions takes the pre-approval process one step further.

When we receive your application and documentation, we verify your employment and financial information to ensure it is within our underwriting guidelines. (See Loan Checklist)  As long as your financial picture does not drastically change, after it has been confirmed, you're approved - with the condition that the home you are purchasing appraises for the purchase price. This extra step solidifies how much home you can purchase, and strengthens your negotiation power with realtors and sellers.

Most lenders require a small fee to apply for a loan, which is typically used to cover the cost of the appraisal and credit report. You will pay this fee up front because the lender has to obtain an appraisal in order to approve your loan. Regardless, if you decide to go through with the loan and purchase the property, the lender has to pay the appraiser and the costs to obtain your credit report.

Approval
Final approval is when you have found your home, it has been appraised, the title report has been received and everything has been found to be acceptable to the lender. Once you receive final approval, you're ready to close.

Knowing the difference between getting pre-qualified and getting pre-approved can help you avoid costly mistakes - including bidding on a home that is outside your price range. To get pre-approved, Click Here.

NO DOWN PAYMENT HOME PURCHASE LOANS

Today, you can buy a home with as little as 0% down payment.  With interest rates at their lowest in 40 years, and no money required for a down payment, you really can't afford to pass up this opportunity.  These loan programs usually require fairly good credit and a stable work history. 

NO INCOME VERIFICATION LOANS

Yes, you heard right.  We have loans that do not require verification of your income.  These loans work well for self-employed borrowers, and require a high credit score.   Check your credit score:

Depending on the lender, you may be required to sign an IRS Form 4506 allowing the lender to request your income tax returns in the future if they so choose.

COMBINATION LOANS

80/20.......80/10/10.......80/15/5.......What is all this talk about combination loans?  It almost sounds like a football quarterback ready for the ball to be hiked.  In reality, combination loans are a great way to finance a home purchase with a low down payment and avoid paying costly mortgage insurance.  Why not pay mortgage insurance?  First of all, it adds to your monthly payment.  Second, that money is rarely tax deductible*.  (*Consult with a tax advisor)  Third, it is money that you will never see again because it does not pay down the principle balance of your loan.  You are paying a third party to insure your lender against possible default of  the loan.  With a combination loan, we provide a first mortgage for 80% of the purchase price of the home, and a second mortgage for a certain percentage.  Hence the first number is your first mortgage percentage, the next number is the second mortgage percentage (from a lender or seller financed) and the last number is the down payment percentage.  With a combination loan, you can still finance 100% of the purchase price, but you now have access to lower interest rates and no mortgage insurance.  Combination loans usually require  fairly good credit.

BAD CREDIT LOANS

Have you encountered some financial bumps in the past?  We have access to hundreds of loan programs designed especially for you.  The first step in the process for poor credit loans is to pull a credit report.  We must know your score and see exactly what has been reported on your credit report in order to locate your perfect loan.  When applying for loans with a bumpy credit history, be sure to fill out the complete full application and provide payment for your credit report at the end of the application.  This will enable us to find the best options for your situation.  You should also work on re-establishing your credit.