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Pacific West Homes has partnered with Countrywide Home Mortgage to provide you with the best loan product to meet your needs. Countrywide Home Mortgage offers multiple ways to start the application process-online, over the phone, or in person-so you can work with us however it's most convenient for you. Once your mortgage application is complete, our state-of-the-art loan processing system will work to give you an approval decision as quickly as possible.
Applying
Before starting your application, you should be prepared to answer questions on the following six areas:
- Personal Data - Full names, addresses, and Social Security numbers of all borrowers
- Income - The amount and source(s) of income for all borrowers
- Assets - Information on all assets such as checking and savings accounts, stocks and bonds, retirement plans, and other real estate owned
- Debts and Obligations - Information on all outstanding debts and any other financial obligations.
- Credit References - Information concerning loans or debts that have been paid, plus any other references to good credit use
- Property Information - Specifics on the property you wish to buy, if you've chosen one
Depending on how you choose to apply, there are different ways you can expect to complete the process.
- Starting the application process online lets you tell us about your borrowing needs and basic financial situation using an online form. One of our home mortgage consultants will review your information and get in touch with you to answer any questions you may have and, if you are ready, take your loan application.
- Applying over the phone or in person allows you to give your information directly to a mortgage consultant. The consultant will walk you through each part of the application and complete it for you based on your answers.
After you complete your application, you will most likely be required to send supporting documents (such as account statements and paycheck stubs) to your mortgage consultant. In some cases, your consultant may also send a copy of the completed application for you to sign and return with the outstanding documentation.
Processing and the loan decision
After you've completed the application, a mortgage specialist will begin verifying all the information you provided. Meanwhile, your credit report and other financial information will be reviewed in order to make an underwriting decision regarding the degree of risk involved in lending you money.
At Countrywide Home Mortgage, most loan decisions are performed by an automated underwriting system designed to provide faster results, often with reduced documentation. In fact, conditional loan decisions can often be made right over the phone! If the automated system can't approve a loan, it's turned over to an underwriter who will look for alternative loan terms to accommodate your needs and circumstances.
You should receive your loan decision within 30 days of submitting all the required documentation. However, it's important to communicate regularly with your mortgage consultant throughout the period leading up to your closing date. This will allow you to be prepared in the event additional information is needed to finalize the loan.
Still have questions?
If you still have questions about what to expect when applying for your loan, a mortgage consultant can walk you through the process and provide further information on what you can expect each step of the way.
For home loans on all Pacific West homes contact:
Fernando Jimenez
Office: 530-476-3900
Fax: 530-476-3904
Cell: 916-873-2447
bestlenderforlife.com
Terri Brewster
Office: 530-476-3900
Fax: 530-476-3904
Cell: 916-718-4695
Countrywide Office:
PO Box 386
306 5th St. Suite B
Arbuckle, Ca 95912
A Countrywide representative will also be on site with our community sales representative during the course of construction! |
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