Over 15 years of experience that includes Mortgage, Banking, Credit, Portfolio Management, and Self Employment.
Let us handle the heavy lifting while you focus on taking care of business. Contact us today and experience the IME Mortgage Processing difference.
Our mission is clear: Making dreams come true. IME is dedicated to simplifying the mortgage process, alleviating stress, and ensuring that every detail is managed with care and precision. By providing expert guidance and support, IME empowers you to focus on what matters most—your future and the journey ahead. Your goals are our priority, and I am committed to helping you achieve them seamlessly.
The mortgage processor organizes and verifies your financial documents to ensure a smooth loan process. We work closely with your lender, realtors, title company, and underwriters to help you reach the closing table.
Generally, you’ll need to provide proof of income (such as pay stubs and tax returns), bank statements, proof of assets, identification, and credit history via a secure online portal. If you’re self-employed, you may also need to provide business financials. Please DO NOT SEND SCREENSHOTS, as banks do not accept them.
Delays can occur due to missing or incomplete documents, appraisal issues, credit verification, or significant financial changes (like new debts or job changes) during the process.
DTI is the ratio of your monthly debt payments to your gross monthly income. Lenders use this to assess your ability to handle monthly mortgage payments. Ideally, your DTI should be below 50%.
Large cash amounts can complicate the home-buying process. Lenders need to verify the source of your funds, and cash deposits are harder to trace. Large, unexplained cash deposits may delay your loan or raise red flags. It’s best to keep your funds in a bank account for at least two months (a process known as “seasoning”) before applying. If you have a cash deposit, be prepared to document its source.
An escrow account holds funds for property taxes and insurance, which will be included in your monthly payment. The lender uses these funds to pay taxes and insurance on your behalf. Waiving escrows means you’ll handle taxes and insurance payments separately, paying them yourself when due.
No — avoid significant financial changes, like buying a car or opening new credit lines, as these can impact your DTI ratio and credit score, potentially jeopardizing your loan approval.
Changing jobs can complicate things. Lenders prefer stable income and will verify your employment just before closing. Switching roles, industries, or moving to a commission- based or self-employed role may raise red flags or require additional documentation. If a job change is necessary, inform your lender immediately to minimize potential issues.
Closing costs typically range from 2-5% of the home’s purchase price. These cover fees for the appraisal, title, insurance, and other related services.
At closing, you’ll sign final documents, pay any remaining closing costs, and complete the transfer of ownership. Be prepared to review and sign everything carefully, as this is the final step in securing your new home.
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