From Dreams to Keys, Unlock your dream home today.
Loan Process
We believe in clear communication and providing you with all the information you need to make informed decisions about your mortgage.
Streamlined and straightforward. Easy online and mobile application built to allow our clients to feel secure and add flexibility.
Click the link below for a standard punchlist of documentation needed for Underwriting approval.
Fully approved loan and appraisal review of home value. Final Closing Disclosure to be sent 5 to 7 days before closing.
Closing day is a thrilling milestone, marking the culmination of your homebuying journey and the beginning of a new chapter in your dream home.
Low interest rates design to make owning a home more affordable, less monthly payments and less money spent over the list of your loan. Our team secures the best rate possible, ensuring that you are getting the most value out of your investment.
We believe in providing our clients with a 'White Glove Experience' – a level of service that goes above and beyond to exceed your expectations. From the moment you reach out to us, you'll notice the difference. Our dedicated team of mortgage professionals is here to guide you through every step of the process with care and attention to detail. We tailor our services to your unique needs, ensuring a smooth and stress-free experience.
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F. A. Q's
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A mortgage is a loan specifically used to purchase real estate, typically a home. The property itself serves as collateral for the loan, which means if the borrower fails to make payments, the lender has the right to foreclose and sell the property to recover their investment.
There are various types of mortgages available, including fixed-rate mortgages, adjustable-rate mortgages (ARMs), FHA loans, VA loans, USDA loans, and jumbo loans. Each type has its own set of eligibility criteria, terms, and benefits.
Lenders typically consider factors such as credit score, income, employment history, debt-to-income ratio, and the amount of the down payment when determining eligibility for a mortgage. Each lender may have slightly different requirements, so it’s essential to shop around and compare options.
A mortgage pre-approval is a preliminary assessment by a lender that determines how much you can borrow based on your financial situation. It’s essential because it gives you a clear idea of your budget when shopping for homes and shows sellers that you’re a serious and qualified buyer.
A fixed-rate mortgage has a set interest rate that remains constant throughout the life of the loan, providing predictable monthly payments. In contrast, an adjustable-rate mortgage (ARM) has an interest rate that can fluctuate periodically, typically after an initial fixed-rate period, potentially resulting in fluctuating monthly payments.
A mortgage is a loan specifically used to purchase real estate, typically a home. The property itself serves as collateral for the loan, which means if the borrower fails to make payments, the lender has the right to foreclose and sell the property to recover their investment.
There are various types of mortgages available, including fixed-rate mortgages, adjustable-rate mortgages (ARMs), FHA loans, VA loans, USDA loans, and jumbo loans. Each type has its own set of eligibility criteria, terms, and benefits.
Lenders typically consider factors such as credit score, income, employment history, debt-to-income ratio, and the amount of the down payment when determining eligibility for a mortgage. Each lender may have slightly different requirements, so it’s essential to shop around and compare options.
A mortgage pre-approval is a preliminary assessment by a lender that determines how much you can borrow based on your financial situation. It’s essential because it gives you a clear idea of your budget when shopping for homes and shows sellers that you’re a serious and qualified buyer.
A fixed-rate mortgage has a set interest rate that remains constant throughout the life of the loan, providing predictable monthly payments. In contrast, an adjustable-rate mortgage (ARM) has an interest rate that can fluctuate periodically, typically after an initial fixed-rate period, potentially resulting in fluctuating monthly payments.
Southern Elite Mortgage LLC, NMLS# 2581600 (www.nmlsconsumeraccess.org). Southern Elite Mortgage LLC is licensed in Virginia as a mortgage broker under license number MC-7881. This is not an offer for the extension of credit or a commitment to lend. Some restrictions apply. Not all applicants will qualify for financing. Southern Elite Mortgage LLC is an equal housing opportunity mortgage broker.
804-293-2425
