People Helping People Achieve Their Dreams
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Our Source of Pride:
*MortgageSAT recognizes the top 10 percent of its lender participants with the Best-in-Class Lender Awards. The awards, presented annually, go to the top-performing lenders and Universal received awards in six categories in 2019. Proudly, Universal Lending was Best of the Best in the categories that say the most: Net Promoter Score (How likely to recommend to a friend or colleague) and Likelihood to Use Again.
The loan process to purchase a home has many steps. The walkthrough below provides an overview of that process. We'd be more than happy to answer any questions you may have along the way.
Pre-approval - Get pre-approved for a mortgage and know in advance exactly how much payment you can afford. Completing this step will also increase your negotiating power since you'll be viewed as a "cash buyer."
Loan Search - Put yourself in the hands of an experienced mortgage professional, someone who will help you to determine which financing options best suit your needs today and in the future.
Loan Application - It's crucial to supply the lender with as much information as possible, as accurately as possible. All outstanding debts, as well as assets and income should be included.
Documentation - Paperwork supporting the application must also be submitted. Information commonly sought includes pay stubs, two years' tax returns and account statements verifying the source of the down payment, funds to close and reserves.
The Hunt - Begin shopping for a house. Once you find the right one, the terms of the sale will be negotiated, including the price and potentially the terms of the loan being sought.