How Integrity Home Mortgage Can Help Your Loan Successfully

Key Takeaways:

-Integrity Home Mortgage is a direct lender that offers a variety of mortgage products.

-The company has a wide range of experience in the mortgage industry and a strong focus on customer service.

-Integrity Home Mortgage has a number of programs designed to help borrowers succeed in securing a loan

Let’s say you are in the market for a home loan, and you want the one that will give you the best deal. You hear a lot about Integrity Home Mortgage and you may be wondering if is the right fit for you. So, what exactly it is, and what they can offer?

Through this article, you will learn about what exactly Integrity Home Mortgage is. As well as the products they offer and some tips for the smooth processing of your application.

Integrity Home Mortgage About and Features

Integrity Home Mortgage Corporation was founded in 2005 by Adam Huddleston, who observed deficiencies in the mortgage industry and decided to take action. With the goal of timely loan closings and excellent customer service, IHMC has set itself apart as a premier provider of mortgage services.

At IHMC, they have a team of creative mortgage loan originators who specialize in custom mortgages. And are ready to help you find the best financing solution to suit your needs and provide you with an array of home loan programs to choose from.

Also, their experienced loan officers will guide you through the process and make your experience as hassle-free as possible. Whether you are a first-time home buyer or a seasoned homeowner, they can assist you with your mortgage financing needs.

To understand more about the company, here are some of its features:

• Expert in this field: They’ve established themselves as a dependable lender since 2005 by serving local communities.
• Innovative financing: To serve the customers better, they provide a variety of financing options and incorporate the latest technology.
• Excellent Customer Service: They provide concierge service for FIRST-time homebuyers or seasoned homeowners to help you find the right financing solution.

Integrity Home Mortgage Loan Programs

A home mortgage is a type of loan that allows you to finance the purchase of a house. This can be done either by taking out a loan from a bank or other financial institution or by using your own savings. In most cases, you will need to put down a deposit of at least 5% of the property’s value in order to get a mortgage.

Additionally, the interest rate on a home mortgage is usually lower than the interest rate on a personal loan, making it an attractive option for many homebuyers. A mortgage can also be a good way to build up equity in your home, which can be useful if you ever need to borrow money against your property in the future.

At IHMC, they have two types of loan programs you can choose from. And each has its specific products that are included.

Agency Loan Programs

Agency loans are the traditional, more well-known loan programs that adhere to Fannie Mae and/or Freddie Mac underwriting guidelines as well as government security standards.

• Fixed-Rate Mortgage
• Adjustable-Rate Mortgage
• Conventional Loan
• FHA Loan
• VA Loan
• USDA Loan
• VHDA Loan
• Jumbo Loan

Non-agency Loan Programs

Non-Agency mortgages are a type of mortgage loan which allows borrowers to qualify based on non-traditional means.

• Investor Cash Flow
• Platinum Jumbo
• Portfolio Select
• Bank Statement
• Individual Tax Identification Number
• Asset Qualifier
• Foreign National

Integrity Home Mortgage Application Processes and Documents Needed

Applying for a mortgage can seem like a daunting process, but Integrity Home Mortgage, they are ready to help you every step of the way. They offer a variety of mortgage products to meet your individual needs, and their experienced loan officers will work with you to find the best fit.

• The first step is to contact one of our loan officers to get started. They will collect some basic information about your financial situation and answer any questions you have about the process.
• After deciding on the type of loan that’s right for you, the next step is to complete a mortgage application. This can be done online, by phone, or in person at one of our convenient locations.
• Then, once they receive your completed application, one of their loan officers will review it and contact you to discuss the next steps.

Applying for a mortgage can be overwhelming, but their goal is to make the process as smooth and stress-free as possible. And to this, you must have already the following documents:

• Copies of your W2s and 1099s from the past two years.
• Pay stubs for the last 30 days
• Documentation of any other sources of income
• Most recent retirement/disability/social security awards letter
• Signed copies of your federal tax returns from the past two years, including all pages and schedules.
• Documentation to support funds needed for your transaction. If you plan on using gift funds to finance your home purchase, be sure to discuss the requirements with your loan officer first.
• Two most recent bank statements, even if some pages are blank.
• If a Service member applying for a VA loan please provide a copy of the Certificate of Eligibility
• Photo ID – must be government-issued (typically driver’s license or ID card)

Integrity Home Mortgage Determining Your Credit Score

Even if you have had credit issues or a previous home loan, you may still be eligible to purchase a new house. There are multiple programs that might suit your individual situation — don’t let the past hinder your future.

Before you buy a home, it’s important that you understand your credit score. Your credit score is calculated using information from the three main credit bureaus (Equifax, Experian, and TransUnion). Each bureau will judge your credit history and produce a number known as your FICO score. The score below is determined by evaluating your past behavior with the following key contributors:

• Payment History (35%)

Timely payments are one of the first things creditors look for.

• Amounts Owed (30%)

To evaluate your ability to manage new debt, lenders will analyze your monthly payments along with your existing debts. They need to be confident that you’re not already over-extended or likely to default on the new loan.

• Length of Credit History (15%)

The longer a person has had a credit line open and the more punctual their payments have been, the higher their scores will be.

• New Credit (10%)

Applying for multiple lines of credit at the same time can show financial difficulties to potential lenders, which then may lower your credit scores.

• Types of Credit (10%)

When a borrower has different types of credit, it suggests that they can manage all sorts of credit. An example would be a revolving credit card or one with no end date for repayment. Another type is an installment loan where the monthly payment and payoff time are set in advance.

Integrity Home Mortgage Tips for Avoiding Delay

Integrity Home Mortgage Corporation’s goal is to ensure that your home loan settlement is as smooth and stress-free as possible. To help make this happen, they want to let you know that making any financial changes during the loan process may delay or prevent your home loan from closing. In order to avoid any delays in your home settlement, the company provides tips for you to do.

Tips for Smooth Application

• Adding Charges to Credit Cards

If you increase your credit card balance, it can raise your debt-to-income ratio. And that’s a factor in getting approved for a mortgage loan. A change in this ratio could stop you from buying or refinancing a house.

Retailers usually give customers who apply for one of their credit card discounts. But it is advisable not doing it since it’ll appear on the summary credit report the lender checks before closing.

• No Other Purchases

To avoid any delays in your loan process, do not buy anything new that will cause you to have monthly debt. They’ll check your credit again right before they finalize everything, and if you start making monthly payments on something new, it could make them rethink approving the loan.

• Types of Credit

A borrower who can handle a diverse array of credit types is more likely to be approved for a loan. For example, a revolving credit like a credit card has no predetermined time for repayment, whereas an installment loan does have set monthly payments and payoff dates.

• Opening Other Resource Accounts

They will require further documentation for closing if they review your asset accounts and notice any large deposits that don’t come from payroll. For example, loan program guidelines usually request a paper trail when you deposit cash, especially if the amount is significant. This could be because the money came from selling personal property.

• Shifting Jobs

They value your commitment and appreciate that you chose Integrity Mortgage. However, they understand that life sometimes gets in the way and unforeseen opportunities may arise during the loan process. If you decide to switch companies or occupations, consult with them so they can help determine what impact this may have on your loan settlement as well as approve new employment information.

Final Thoughts

The loan process can be a bit overwhelming, but with the help of Integrity Home Mortgage Corporation, you can be sure that everything will go as smoothly as possible. Just remember to avoid any financial changes during the process and to consult with your loan originator if anything does come up. Doing so will help ensure a successful loan settlement.

If you have any questions, please comment down below!

FAQs

How can I avoid delays in my loan process?

There are a few things you can do to avoid any delays in your loan process: adding charges to credit cards, no other purchases, opening other resource accounts, or shifting jobs. For more information, please consult with your Integrity Mortgage Loan Originator.

What are some tips for a successful loan?

Some tips for a successful loan include: having a good credit score, maintaining a steady income, and having a low debt-to-income ratio. For more information, please consult with your Integrity Mortgage Loan Originator.

What type of credit is best for a mortgage loan?

A borrower who can handle a diverse array of credit types is more likely to get approval for a mortgage loan. For example, a revolving credit like a credit card has no predetermined time for repayment, whereas an installment loan does have set monthly payments and payoff dates.

Quick Links: Tips & Info | Platinum Home Mortgage | Strong Home Mortgage | Vision Mortgage Group