Seguro Financial Services is a Mortgage Marketing Company associated with leading Mortgage Brokers & Lenders. We pride ourselves on exceeding our customer's expectations in finding the best rates, services, and options for a home loan. Whether you want the lowest rate possible, a large amount of guidance, or a more complex financing package, we realize you are unique and we'll work with you to find a loan that is exclusively for you. Each loan scenario is unique in its own way and we cater to those specific needs and we strive to meet those needs with a wide range of refinance and purchase product. We give our customers direct access to the insight and experience of our entire team, enabling customers to benefit from our combined knowledge of the mortgage industry, Tell us what is stopping you from achieving your financial goals and we will be with you each step of the way! We act as a middleman between you and the lenders who actually fund and service your loan. While you can easily approach a lender on your own, you should use our service as we can find you the financially best loan from multiple lenders. Whether you are a first-time buyer or a repeat buyer, we can help by explaining all your loan options and programs that could be financially beneficial. Most lenders will do this as well, but they can only talk about the programs they offer rather than the range of loan products we can access.
Conventional loans are approved on a more stringent guidelines as compared to FHA however conventional loans are a more popular choice if you have an excellent credit history as the interest rates are lower in comparison and conventional loans do not have an upfront mortgage insurance or funding fee added to the loan.
An FHA mortgage is a government-backed home loan with more flexible lending requirements than those for conventional loans. Because of this, you need to pay a monthly mortgage insurance premiums along with your monthly loan payments and an Upfront mortgage insurance premium that is rolled into your loan.
Home affordable refinance program (HARP) is a special program to help home owners refinance their existing home mortgage with a higher loan to value ratio, this program is ideal for home owners who have lost the equity of their property due to the decline on property values and cannot refinance due to the stringent guidelines of the conventional loan programs.
The United States Department of Agriculture (USDA) provides new home purchase and refinance loan programs for eligible property's located in rural agrees as part of the Rural Development (RD) initiative.
VA loans are home mortgages backed by the Department of Veterans Affairs (VA). With a VA loan, eligible service members and veterans can buy a home with little or no down payment, or refinance an existing home for a lower monthly payment.
The mortgage application process is where you fill out the application, sign various forms that authorize the us to process your loan, and deliver your documentation requirements, such as bank statements, pay stubs, W2's, etc. You should understand that the next process cannot begin until these documents are completed or received thus it's imperative that you get your documentation in within 48 hours of completing an application.
When the processor gets the clear to close they then schedule and coordinate with all the parties the time and location to sign the final documents to close the loan. This normally only takes an hour to schedule.
When the underwriter is done reviewing your loan they will send "conditions to close" to your processor. These are normally just requirements for further documentation to support your file. When these needs have been satisfied the underwriter will give a final approval and clear to close.
When everything is scheduled the lender then draws the document package and sends it to the closing company. This can be done by overnight delivery, fax, or electronically. It can take one to two days. You meet, sign the papers, and close the loan.
When all of your documentation is received it, the loan file gets assigned to a processor who verifies and validates all of the information to be true and correct. Verification requests may be sent to your employers, mortgage holder/landlord and lending institutions. This is done electronically when possible. It is usually during this time frame that the appraisal and the title policy are ordered. When all the information is collected, the processor then verifies that basic lender loan requirements have been met. The loan file is then packaged in a manner the lender specifies. The completed package (including the appraisal and title report) is then sent to the underwriting department to a lender specified location.
The underwriter reviews your loan package to make sure it conforms to all the guidelines required for that loan product. They also review the appraisal and title report and may do additional validation of employment, mortgage payments, and credit and anything else they feel is necessary to document your loan. They have ultimate power and decision authority over the approval of your loan. The time required to do this is driven by the volume in the market. Most lenders today use Automated Underwriting, the advantage is less documentation and it speeds up the process.
 Mortgage Loan Services +9 more
 Mortgage Loan Services +5 more
