There's no cost for completing an application and getting your loan pre-approved. Upon receiving your preapproval, you will be given an opportunity to lock your rate. When you decide to lock in an interest rate, we will require a credit card to order an appraisal. The cost of the appraisal is generally between $350 and $550 depending on your area, loan size and specifics of your particular property.
We do not charge a fee to lock in an interest rate; however, when you decide to lock in an interest rate we will require a credit card to order an appraisal. The cost of the appraisal is generally between $350 and $550 depending on your area, loan size and specifics of your particular property.
If you decide for any reason to cancel your loan after your rate has been locked and the appraisal inspection has been completed, you will not be obligated to pay anything beyond the cost of the appraisal. You will receive a copy of the appraisal, which is yours to keep.
We expect to close your loan within our standard lock period of 30 days. If your required loan documents and appraisal were returned and scheduled as advised, we are very confident your loan will close on time. In a normal market, we can close a purchase transaction in as little as two weeks if necessary; however, we strongly advise against waiting this long to start the process.
If your loan is not closed on time due to a delay caused by us or the lender we selected, your lock will be extended at no cost to you. If your loan was not closed on time due to a delay caused by you, any applicable extension fees will be at your cost. It is very rare that our clients have to pay an extension fee. Please see the FAQ page for a full explanation.
We will need to verify your income with the following supporting documentation: your most recent W-2 and 30 day pay documentation, your most recent two months bank statements of a savings, investment or retirement account with all pages. If you are self-employed, earn commission, rental or dividend income, you will need to provide one to two years tax returns.
We recommend that you submit an application and get pre-approved before you begin your property search. This will give you a clear idea of what price, rates and loan types you will qualify for. Since we do not charge a fee for a pre-approval, there is no risk to you.
Technology has enabled us the ability to work seamlessly with our clients that do not live within the vicinity of our office. For the majority of our clients, face to face meetings are not necessary; however, if you would like to meet us in person, you can always schedule an appointment to visit us at our office in Bellevue, WA.