Not All Preapprovals are Created Equal…
Not All Preapprovals are Created Equal…
Some lenders provide great rates but lack service. Some lenders provide great service but lack good rates. At 101 Loan, we Provide Both! In fact today our Jumbo 30 Year fixed is at 7.125% at 0 Points on Loans Over 750k in loan amount. (Assumes 25% down with a 780 mid fico score with APR of 7.254)
When it comes to making an offer on your behalf, we go the extra mile to ensure your offer is the strongest offer possible in the eyes of the seller and listing agent. This includes the following and something most banks, brokers or credit unions don’t offer:
1) We get the buyer completely pre-approved before they make an offer, so they won’t need a loan contingency (unless we recommend having one), something seller’s require in this market. This involves verifying credit, all income docs and all assets docs and reviewed by an underwriter and run through DU.
2) We strategize with the buyer and Realtor, to close in the quickest amount of time with the least amount of contingencies while keeping the buyers risk as low as possible.
3) At the time of offer, we call the listing agent on behalf of the buyer and their Realtor to differentiate the offer over someone else’s. (This makes the biggest difference in the eyes of the listing agent and seller and conveys strength in the preapproval)
4) We can close purchases in 21 to 25 days (as needed) depending on the loan program the buyer chooses. Faster is better in the eyes of the seller!
5) We provide a timeline to the buyer, the listing agent and the buyer’s agent, once the loan is locked; detailing each step of the transaction to ensure a smooth closing.
6) We ensure the buyer knows exactly what the loan will cost once locked and then update them immediately if there are any changes to the loan structure, as a result due to a change of circumstance. We then re-summarize the costs before the buyer signs the loan docs.
7) We coordinate the buyer’s signoff with escrow and their Realtor, to ensure the purchase closes on time, as scheduled.
8) We basically “micro-manage” the purchase from start to finish to ensure everything goes as smoothly as possible, something crucial in this market, to ensure all parties have a smooth and stress-free closing.
To Get Preapproved, please Contact Us.
Best Regards,
101 Loan
Senior Mortgage Advisor – CA DRE #01205444 NMLS #326829
650-465-8957 c 408-377-4123 o hello@101loan.com
Mitch Stelling
Mortgage Advisor – – CA DRE#- 02212314 NMLS#- 2318256
(831) 431-0726 c 408-377-4123 o mitch@101loan.com
www.101loan.com
101 Loan – 14435 C Big Basin Way, Saratoga, CA 95070
Products/Services/Accolades:
- Residential Financing for Purchases and Refinances on 1 to 4 unit properties.
- Reverse Mortgage Financing to include Conforming, Jumbo, HELOC Jumbo’s.
- Commercial & SBA Financing to include Multifamily, Office, Retail and Light Industrial.
- Access to over 60 banks with over 300 “Five Star” Reviews on Yelp, Google, Facebook and Linkedin.
Note: Interest rates and loan programs quoted are subject to change without notice or until locked and approved by lender.
