Get on the Right Path to Homeownership!
No matter if it takes two months or two years to get you approved for a mortgage, we’ll begin working with you TODAY to help you improve your credit scores and get you approved for a loan with a top mortgage lender.
We are committed to working with all prospective homebuyers until they succeed in achieving home ownership, no matter how long it takes.
Here’s How Our 12-Step Program Works:
We custom design the program for each person. Once you sign up we’ll work with you to determine which step you should begin with.
Our ultimate goal is to walk you step-by-step through the entire home buying process and get you approved to buy a home. We don’t stop working with you until you have the keys to your new home in hand.
Step 1: Initial Consultation and Set-Up
The first step in our program is to schedule your initial telephone consultation with us. We’ll give you an overview of our program, answer any questions you may have, and ask you important questions such as:
- When would you like to purchase a home?
- What parts of town are you interested in?
- How much would you like to spend on a home?
- What concerns do you have about the home buying process?
Once we’ve completed the set-up process and answered all your questions, we’ll introduce you to the real estate consultant who will be working with you step-by-step through the home buying process. Because your consultant is also a licensed real estate agent, once you get approved for a mortgage later down the line, this person will also be able to help you search for homes and take you on private showings of the properties you like.
Lastly in this first step, we will email you your log-in information for our private online system, where you’ll be able to monitor your progress, and keep track of the tasks we’ll create for you as we start the home buying process. In this back office, you’ll also have access to dozens of articles and information related to home buying to help you get prepared for the road ahead.
Step 2: Document Submission
In this step we’ll have you pull a recent copy of all 3 of your credit reports and submit them to your real estate consultant. By submitting this information, we’ll be able to evaluate your individual situation as we begin creating a plan to most effectively meet your needs. In addition, you’ll also need to log into your account and submit the following information:
- Participant Agreement – explains the terms and conditions of the program
- Disclosures – authorizations and disclosures required for participation
- General Information Form – general information about you and your home-buying goals
- Budget – Financial Analysis of your monthly household income and expenses
It is very important we receive all your required documents as quickly as possible so we can get started.
Step 3: Credit Analysis
Our experts will sit down and analyze your credit reports. We’ll identify all the positive factors affecting your credit scores as well as the negative. For any bad credit items, we’ll identify which items need to be either removed or addressed in order for you to qualify for a mortgage based upon your moving timeframe.
Once we evaluate your current credit situation, we’ll put together a customized to-do list, describing everything you’ll need to do to get your financial position in the best possible shape.
We’ll also calculate how much money you need to make in order to qualify for a home in the price range you selected in Step 1.
While we’re working behind the scenes analyzing your credit reports, we’ll give you access to tons of helpful information, written by our team, designed to get you started with the home buying process, including:
- Understanding Your Credit
- How Long Will it Take to Fix Your Credit
- How Much Does Bad Credit Affect You
- Everything You Need to Know About a Credit Report
- Washing Your Hands Clean of Bad Credit
- And More…
Step 4: Credit Consultation/ Creating A Plan of Action for Fixing Your Credit
Once we’ve completed the analysis of your credit reports, our next consultation with you will be totally dedicated to discussing your credit and financial situation.
We’ll help you learn how to read, interpret, and understand everything on your credit reports. We’ll create a plan of action for every negative item currently appearing on your reports.
By the end of this call, every negative item on your credit reports will be identified, analyzed, and a plan of action will be in place to address it.
If you need to build new credit in order to help boost your credit scores, we’ll also talk about that at this stage of the program.
If you need to obtain additional income in order to qualify for a home in the price range you prefer, we’ll discuss that too.
Step 5: Take Action! / Getting Your Finances in Order
Depending on your timeframe this is the stage where you’ll begin working with us to take the necessary steps to either fix your credit and/or get your financial affairs in order.
For every negative item on your credit reports, we’ll begin taking the necessary steps to get the item(s) removed.
For some people this step may only take 30-90 days. For others it could take a year or more. No matter how long it takes, we are committed to working with you until you succeed in purchasing a home. We’ve worked with buyers and sellers all over Atlanta for over 13 years, so we’ll be here no matter how long it takes.
Because everyone’s situation is different, depending on what type of credit issues you have, we’ll upload additional information into your back office to help you address any specific credit problem you may have:
- Collection Accounts/ Charge-Offs
- Late Payments
- Unpaid Medical Bills
- Student Loans
- Identity Theft
- Tax Liens
- Child Support
- Incorrect Information
Step 6: Final Credit Analysis
Depending on your timeframe, we’ll conduct an additional credit report review & analysis every few months so we can monitor your progress.
During the final analysis we’ll review all the progress we’ve made, and take one last look to make sure all the bad credit has been addressed and/or removed.
Next we’ll check to see how much your credit scores have improved since the very beginning. To get the approved for the best loans with the lowest rates, you should aim to have a credit score as high as possible.
Lastly, we’ll help you make the final preparations to speak to a mortgage lender.
Step 7: Apply for a Mortgage and Get Pre-Approved
We work with dozens of loan professionals at some of the most respected mortgage companies in the nation: Bank of America, Wells Fargo, Suntrust, Loan South, and many more! In this stage you’ll have the opportunity to apply for a mortgage with the lender of your choice. We’ll also discuss any homebuyer programs you may qualify for.
Your mortgage consultant will help you prepare financially for homeownership by obtaining the necessary documents, determining an affordable payment and addressing any potential roadblocks to homeownership.
To get you qualified, your mortgage consultant will work with you in the following areas:
- Affordability Analysis: What type of house do you want to purchase and what is your desired price? Can you afford the mortgage payment for this desired price?
- Payment History: Do you have a history of meeting your financial obligations? We look at your current payment history and your written explanations for late payments.
- Debts: What are your current debt obligations, and which additional ones may you become obligated to pay?
- Income: Do you have documented income for the purchase of a property? Income can include employment, self-employment and other documented income.
- Funds Qualification: Do you have adequate cash or cash equivalents to pay for the earnest money deposit, home inspections, pre-paid closing expenses, and reserves?
Step 8: Go Shopping and Find a Home!
Congratulations! Now that you’re approved, we will begin working with you to find the perfect home.
There are lots of homes out there: foreclosures, short sales, HUD homes, new construction, fixer uppers, and even regular residential resales.
How or where do you begin? Your real estate agent will help you more accurately pinpoint homes that fit your criteria. The right home will meet all your important needs, and as many of your additional wants as possible. Some questions you might ask yourself at this stage include:
- What do I want my home to be located close to?
- How much space do I need and why?
- How important is home value appreciation?
- Is neighborhood stability a priority?
- Should I be concerned with the local school scores?
- What features and amenities do I want? Which do I really need?
As you begin looking at homes, your priorities will probably adjust along the way.
Step 9: Make an Offer on the Home You’ve Chosen
Once you’ve found the perfect home, the next step is making a offer. Your agent will research similar properties in the neighborhood to help you determine the market value, and fair price for your home. Look to your agent to explain and guide you through the offer process.
- The three basic components of your purchase offer are price, terms and contingencies.
- Price is the dollar amount you are approved for, willing and able to pay.
- Terms cover the other financial and timing factors that will be included in the offer.
- Contingencies are clauses that let you out of the deal if the house has a problem that didn’t exist or which you weren’t aware of when you went under contract.
Step 10: Mortgage Processing and Underwriting
Your mortgage loan officer will now take your mortgage application and submit the full loan package for the home you’ve selected. During this stage, they’ll work with you to address the home inspection, appraisal, title, and any conditions set by the lender.
Because by this stage we will have already addressed most of your financial issues and worked to get you in the best possible position, there should be few problems, if any with the loan. Virtually all of our loan applications are approved without issues (over 97%).
Step 11: Closing
Working with your lender, we’ll coordinate your closing at a real estate attorney’s office. Prior to the closing, you’ll need to obtain homeowner’s insurance for the property you’ve selected. A few days before closing, you’ll have the opportunity to do a “final walk- through” of the home, to make sure any agreed upon repairs and cleaning have been done and that the home is ready for you to move in.
If you have any questions during this process, your real estate agent, mortgage loan officer, and closing attorney will be able to help answer them for you. At the end of the closing, you will be handed the keys to your new home! Congratulations!
Step 12: After the Closing
The home-buying process is now complete, but just because the sale is done, your relationship with us doesn’t end. After closing we’ll still be available to help you – providing information for your tax returns, finding contractors and repair services, and even tracking your home’s current market value. Plus, if you ever decide to purchase an investment property or a 2nd home, we’ll always be there. Consider us your real estate team for life!
Get Started Today!
Complete the form below or call us! Our team is looking forward to working with you.