Choosing A Mortgage Company:

When you are ready to shop for a loan, you can work directly with a lender or with a mortgage broker representing many individual lenders.

Direct lenders are lending their own money, have in-house programs, and make the final decision on your application.

Brokers are intermediaries who represent many lenders and loan programs from which to choose. If you have special financing needs or want to shop the market for the best deal, an experienced broker may be able to find the best loan for you.

Check Rates - Browse through our interest rates for different loan programs. Updated daily.

Along with shopping the source, you'll also have to shop the total costs of the loan, including the interest rate, broker fees, points (each point is one percent of the amount you borrow), prepayment penalties, the loan term, application fees, credit report fee, appraisal, and a host of other items.

If you are ready, please Apply Online - Use our secure, online 1003 mortgage application which will be placed in top priority and receive immediate attention. After the mortgage application, we will let you know if you qualify for the loan within a couple of days.

The Loan Process:

The loan approval process generally begins with an initial interview where you and a mortgage professional discuss the potential loan. You can send information to your mortgage professional before the meeting to verify your income and long term debts.

You may prefer to talk with your mortgage professional before house hunting to determine in advance how much you can afford and the mortgage amount for which you can qualify. This step is called pre-qualification and can save you time and trouble by making certain you are looking in the correct price range.

To complete the 1003 Mortgage Application, you will need to gather:

A purchase contract for the house (if you have one)

a.) Your bank account numbers and the address of your bank branch, along with checking and savings account statements for the previous 2-3 months

b.) Pay stubs, W2 withholding forms, tax returns for two years, or other proof of employment, and income verification

c.) Credit card bills for the past few billing periods, or canceled checks for rent or utility bill payments, to show payment history and amount of revolving debt

d.) Information on other consumer debt such as car loans, furniture loans, student loans and retail credit cards

e.) Balance sheets and tax returns, if you are self-employed

f.) Any gift letters, if you are using a gift from a parent or relative or other organization to help pay the down payment and/or closing costs. This letter simply states that the money is in fact a gift and will not have to be repaid.

Having these items on hand when you visit the mortgage company will help speed up the application process. Usually, an appraisal fee will have to be paid when you submit the mortgage application.

After you speak with us, you should have a general idea if you qualify for the size and type of loan you want. Thank you.

Prequalify - We will help you determine just how much house you can afford.

Calculate - Find out what your payments would be, compare the cost of living between 2 cities and more.

Check Rates - Browse through our interest rates for different loan programs. Updated daily.

Apply Online - Use our secure, online 1003 mortgage application which will be placed in top priority and receive immediate attention. After the mortgage application, we will let you know if you qualify for the loan within a couple of days.

Contact Us - If you have any questions or if you need help with anything on this website.

Thank you,

Ted Gehrke
Turboloans.com
Founder & President
Tel: 480-219-0033
Fax: 480-219-0849
Direct: 602-881-1414
Toll Free: 1-800-920-4049
Email: ted@turboloans.com