Homeownership Made Easy
STEPS TO HOMEOWNERSHIP Becoming a homeowner is a long sought after achievement. Being prepared is one of the most important keys to having a smooth and seamless transaction. Here are the steps you can expect in the buying process.
•
Home buyer obtains pre-qualification from lender
•
Home buyer purchases desired home with assistance from a real estate agent
•
Contract is accepted/home is placed in escrow
•
Loan application is submitted to lender
•
Lender orders title and property appraisals
•
Loan materials are reviewed & processed
•
Loan submitted to underwriting for approval
•
Closing agent coordinates insurance and prepares transfer of final materials
•
Loan documents are signed
•
The loan is funded and recorded
•
Home buyer gets the keys and moves into his/her new home
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
Movement
refinancing, or looking for a reverse mortgage, our
Mortgage gets it. We know that you work hard every
experienced mortgage consultants are ready to help
day and the last thing you need is a company that
you every step of the way. Speed, service, and our
is lagging behind and holding you back. With this
7 Day Clear-to-Close are the hallmarks of our veteran
in mind, Movement Mortgage has created a driven
processors and underwriters. Our loan officers are
and motivated culture dedicated to being the best in
not only qualified and knowledgeable, they are also
the industry. We have adopted excellence as a rule,
determined to create a seamless and stress-free loan
not an exception! Whether it’s purchasing a home,
process to bring you home.
Unlike
other
mortgage
companies,
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
Tools for a successful home buying experience
GET PRE-APPROVED FAST A pre-approval is crucial in the home buying process. Movement Mortgage specializes in oldfashioned service while using the latest technology to ensure a smooth and swift transaction for our clients.
Items Needed for a Pre-Approval •
Last two months of bank statements (all pages, all accounts)
•
Last two months of retirement and 401K statements (all pages, all accounts)
• Last 30 days of pay stubs or current LES
(military)
•
Award Letters for Retirement Income, Social Security, Disability Income and SSI (if applicable)
•
Last 2 years of 1040 Federal Income Tax Returns
•
Last 2 years of Federal Corporate and/or Partnership Tax Returns
(self-employed)
• Last 2 years of W-2 Forms •
Copy of driver’s license and Military ID
•
Statement of Service from Command — must include eligibility for reenlistment
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
(military)
(military)
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
Tools for a successful homebuying experience
FIRST TIME HOMEBUYERS A Guide to Decide If You Can Afford to Buy Step 1: Get Pre-Approved The only way to truly know how much home you can afford is to ask a lender. Getting pre-approved lets you know how much you can afford before shopping for your home. What to Know and Where to Find It: • Income: Stable income assures a lender you can make your monthly mortgage payment. • Debt: Add up auto payments, credit card payments, student loans, alimony, child support, and other. • Cash: Total assets, amount in checking and savings accounts, and other investments. Step 2: Determine Monthly Mortgage Payment Including Escrow Escrow is a third party account used to retain funds, including the property owner’s real estate taxes and hazard insurance premiums. Step 3: Understand Bills Associated with Homeownership Estimate that it will cost about one percent of the purchase price per year to maintain your home. For a $200,000 home, you should budget approximately $2,000 per year or approximately $170 per month
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
for maintenance. Condominiums and co-ops will have regular maintenance fees. You will also have utilities, gas, electric, water, sewage, cable, telephone, insurance, property tax, etc. Step 4: Compare the Total Costs to Your Monthly Salary Subtract the total in Step 3 from your monthly gross income. Step 5: Test those Numbers for Six Months • Set up a new bank account. • Subtract your current monthly rent from your Step 2 total. • Deposit the difference in these numbers into the new bank account on the first day of each month. • After six months, determine how simple or straining the process turned out to be. Step 6: Establish Future Priorities and Plan for the Unexpected • What are your needs for the new home—appliances, furniture, lawn equipment? • Is a new car in your near future? • Do you plan to have children? • How long can you survive if you lost your job?
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
Movement Mortgage is Different
HOW WE DO BUSINESS Movement Mortgage Day 1:
Application taken and upfront items received electronically (W-2, Pay Stubs, etc.). File electronically submitted to underwriter with credit times.
Day 2:
Loan approved by underwriter with exact conditions.
Day 2-10:
Conditions collected by loan officer and processor.
Day 11:
File cleared to close. Package out three days prior to closing.
Our Competitors Day 1-2: Loan officer takes application, runs automated underwrite, and sends approval to the REALTOR®. Loan officer sends loan package with a request for more information. Day 9:
Loan officer receives loan package and sends to processing.
Day 14:
Processor calls borrower for additional items needed.
Day 18:
Client turns in more documentation. File is sent to underwriter.
Day 21-22:
Underwriter approves file subject to additional conditions. Loan officer, processor, and agent look for missing conditions.
Day 26-27:
Underwriter clears final conditions and closer begins working on the file.
Day 29:
Loan package sent to attorney.
Day 30-45:
Client is still waiting. Loan is projected to close.
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
Preparing for a home loan
10 DO’S AND DON’TS The 10 Do’s and Don’ts During the Mortgage Process 1. Don’t apply for new credit of any kind. 2. Do keep all existing credit card accounts open. 3. Don’t MAX OUT or overcharge existing credit cards. 4. Do maintain your employment at your current job. 5. Don’t consolidate debt to one or two cards. 6. Do pay off collections, judgements, or tax liens reported within the past year. 7. Don’t make any large purchases. 8. Do stay current on your existing accounts. 9. Don’t make any large deposits into any of your accounts.
10. Do call me. I am here to help you through this process.
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
While the competition continually pushes back their
in seven days, and have it closed in record time. Our
closing date, we focus on our 7 Day Clear-to-Close.
specialty is bringing you home! We pride ourselves on
We do this by utilizing our talented operations staff
outstanding customer service. Let us show you why
who underwrite your loan within six hours, process it
our 7 Day Clear to Close is second to none!
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
How to prepare for a home loan
MORTGAGE LOAN CHECKLIST Items Needed for a Loan Application 2 years of tax returns If self-employed, 1099s and copy of business license Most recent bank statement ( all accounts and all pages ) Most recent pay stubs ( minimum of 30 days ) Copy of driver’s license Explanation of any inquiries on credit report ( signed and dated ) Mortgage Statement Insurance Declaration Page Most recent tax statement for all other properties owned Divorce decree and Separation Agreement ( if applicable ) Copy of Earnest Money Check % Purchase Contract
Find out what’s next. Give me a call!
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
Movement Mortgage is Different
AVAILABLE LOAN PROGRAMS A few of the many programs available CONVENTIONAL PURCHASE
USDA RURAL FINANCING
•
•
80% LTV has no mortgage insurance, LTV’s up to 97% with mortgage insurance
True 100% financing, 30 year fixed rates and flexible credit guidelines
* Available with lender paid mortgage insurance
* Income/Property Eligibility •
Guarantee fee may be financed
FHA PURCHASE • • •
3.5% down payment required, based on purchase
VA PURCHASE
price or appraised value (lesser of the two)
•
100% financing for qualified Veterans, no monthly
Non-occupying co-borrowers are allowed (perfect
mortgage insurance. VA funding fee may be
for college students)
financed
Down payment and closing cost may be gifted by a family member
203k - STREAMLINE
HOME PATH® - Buy FNMA REO with the following guidelines: •
97% LTV available.
•
No appraisals, property inspections, or mortgage
•
Up to $35,000 in repairs
•
No structural repairs
•
insurance required Investors to 90%, 2% seller contributions allowed
•
Can be used for a refinance
•
FNMA owned homes - www.homepath.com - all
•
No minimum repairs
•
Contractor: 2 draws
eligible properties are listed on this site
REVERSE MORTGAGE & REVERSE PURCHASE 203k - FULL
•
No mortgage payments
•
Structural repairs allowed
•
No credit qualifying
•
FHA consultant required
•
No income qualifying
•
Contractor: 5 draws
•
For borrowers 62 years and older
•
Up to 6 months principal, interest, taxes, and
•
insurance can be included if property not occupied
JUMBO
The LTV can be up to 110% of the after improved
•
Loan amount of $417,000+
value. Comps must support the value
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
Homeownership Made Easy
LOOKING FOR A MORTGAGE LOAN? Introducing Movement Mortgage Becoming a homeowner is a long sought after achievement. Being prepared is one of the most important keys to having a smooth and seamless transaction. Here are the steps you can expect in the buying process.
Local Customer Service and Communication
Speed of Process
At Movement Mortgage, we are always
us to get your loan approval faster than
available and close by. This makes
any other lender around. That gives you
communication during the loan process
peace of mind, early in the process, that
very easy!
the loan will go smoothly.
Products
Professionalism
Movement Mortgage offers a wide array of
Our loan officers have years of experience
products that fit the needs of any buyer.
in the lending industry and have local
We offer Conventional, FHA, FHA 203k,
reputations for exemplary customer
USDA, VA, and Reverse loans, among
service and product knowledge.
We have a unique loan process that allows
others.
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
The Advantages of Homeownership
OWNING VS RENTING Buy and begin building your own equity. Rates are at an all time low, and we are confident there is a program that is perfect for you. The benefits are endless!
Stop Paying your Landlord’s Mortgage Equity
Pride
You can’t build equity in an apartment or rental property, but by owning your home, you can!
Take pride in your new home. An apartment can sometimes feel only like a place to stay.
Tax Deduction Your rent payment is not tax deductible. By being a home owner, the interest portion of your mortgage payment could be tax deductible.*
Fixed Payment Your rent almost always increases when your lease is renewed, but with a fixedrate mortgage, the principle and interest payments never go up.
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
Additional Tax Benefits In addition to deducting mortgage interest, you may be able to deduct real estate property taxes and any points you may have paid at closing. As part of owning a home versus renting, you may be eligible for tax credits for improvements and other tax incentives.*
*Please consult your tax advisor.
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
The Advantages of Homeownership
OWNING VS RENTING Buy and begin building your own equity. Rates are at an all time low and we are confident there is a program that is perfect for you. Many renters can afford to buy a home but don’t realize it!
Stop Paying your Landlord’s Mortgage Do You Think
Keep in Mind
•
You need a lot of cash to buy home?
•
Low cash required options are available.
•
Your monthly payment would be more than
•
There are loan choices that offer lower
•
you can afford?
payments, and qualifying for a mortgage is
Today’s housing market is the wrong time
easier than ever.
to purchase?
•
Today’s housing market has made great opportunities available, making it a better time than ever to purchase, This “buyer’s market” has given first-time home buyers much more buying power.
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
Tools for a successful home buying experience
PRE-QUALIFICATION VS PRE-APPROVAL These are two of the most commonly asked questions from first-time and experienced home buyers alike. One of the best places to start is by getting pre-approved by a lender up front in the process. Not only does it give you peace of mind knowing your price range is already pre-approved by the lender, but it also strengthens your position at the negotiating table, especially in a multiple offer situation. Some lenders offer pre-qualifications and pre-approvals. Here’s the difference:
How do I know what price range to look in? Pre-Qualification
Pre-Approval
Provides a ballpark estimate of your buying
Provides proof to Real Estate Agents and
power and is based on summary information
sellers that you’re pre-approved for a specific
you provide on your income and assets.
loan amount and is based on verification of
It also requires a satisfactory review of
your income, credit, and assets. It requires a
property, financial documents, and program
satisfactory appraisal and title review and no
requirements to ensure final approval. Pre-
change in financial condition for final approval.
qualification is offered by most lenders.
As a service to you, Movement Mortgage offers pre-approval before you find a home — at no cost!
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
FHA STREAMLINE 203K GUIDE Items to Look for to Meet HUD Property Standards When making your list of desired improvements, there are some additional items you may overlook or think are too minor to add to the work.
•
Peeling or chipped paint
•
Exposed wiring
•
Signs of mold or mildew
•
Missing gutters
•
Windows that don’t freely open and close
•
Damage to the exterior of home including,
•
Missing electrical fixtures, switches/outlets and switch/outlet plates
•
Missing flooring, including missing tiles
•
Flooring that is in disrepair
•
Missing handrails, when there are more than
soffit, fascia, and siding •
Utilities must be turned on and checked for operation
•
Inadequate caulking and weather stripping on doors and windows
three steps
•
Missing built in appliances
•
Roof with less than 2 years of remaining life
•
Dampness or water in basement
•
Water stains on walls and ceilings
•
Water heater in disrepair
•
Missing bathroom fixtures and/or cabinet
•
Well/septic – does the inspection report state needed repairs
doors •
Signs of termite damage
•
Cracks in foundation
•
Missing screens on windows
•
Renovation program instead of the Streamline
•
Missing door knobs
•
Missing kitchen fixtures and/or cabinets
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
203k
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
FHA STREAMLINE 203K Providing Secure Solutions
FHA’s Streamline 203k program permits home buyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this product, home buyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser. For more information on how an FHA 203k loan can help you and your family achieve the home you’ve always wanted, Contact Us Today!
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
FHAFINANCING Providing Secure Solutions
FHA can be a buyers best option for achieving the dream
•
of homeownership. FHA can provide a better alternative to conventional loans with low down payments and more flexible underwriting criteria. When financing with FHA, homeowners
• •
Seller can contribute up to 6% toward buyers closing costs and prepaids No prepayment penalty Streamlined documentation of refinances
gain a flexible credit review along with the option of a fixed or adjustable rate mortgage.
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
HOMESTYLE®RENOVATION Providing Secure Solutions
A HomeStyle® Renovation Mortgage provides a convenient way for borrowers to make renovations, repairs, or improvements totaling up to 50 percent of the as-completed value of the property with a first mortgage. The funds can be used for any repairs or renovations that are permanently affixed and add value to the property. This loan is available to primary residences, second homes, and investment properties. For more information on how a HomeStyle® Renovation loan can help you and your family achieve the home you’ve always wanted, Contact Us Today!
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
FHA STREAMLINE 203K GUIDE Items to Look for to Meet HUD Property Standards When making your list of desired improvements, there are some additional items you may overlook or think are too minor to add to the work.
•
Peeling or chipped paint
•
Exposed wiring
•
Signs of mold or mildew
•
Missing gutters
•
Windows that don’t freely open and close
•
Damage to the exterior of home including,
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Missing electrical fixtures, switches/outlets and switch/outlet plates
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Missing flooring, including missing tiles
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Flooring that is in disrepair
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Missing handrails, when there are more than
soffit, fascia, and siding •
Utilities must be turned on and checked for operation
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Inadequate caulking and weather stripping on doors and windows
three steps
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Missing built in appliances
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Roof with less than 2 years of remaining life
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Dampness or water in basement
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Water stains on walls and ceilings
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Water heater in disrepair
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Missing bathroom fixtures and/or cabinet
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Well/septic – does the inspection report state needed repairs
doors •
Signs of termite damage
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Cracks in foundation
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Missing screens on windows
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Renovation program instead of the Streamline
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Missing door knobs
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Missing kitchen fixtures and/or cabinets
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
203k
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
FHA STREAMLINE 203K Providing Secure Solutions
FHA’s Streamline 203k program permits home buyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this product, home buyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser. For more information on how an FHA 203k loan can help you and your family achieve the home you’ve always wanted, Contact Us Today!
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
FHAFINANCING Providing Secure Solutions
FHA can be a buyers best option for achieving the dream
•
of homeownership. FHA can provide a better alternative to conventional loans with low down payments and more flexible underwriting criteria. When financing with FHA, homeowners
• •
Seller can contribute up to 6% toward buyers closing costs and prepaids No prepayment penalty Streamlined documentation of refinances
gain a flexible credit review along with the option of a fixed or adjustable rate mortgage.
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.
VAFINANCING Providing Secure Solutions
Are you a veteran, reservist, active-duty personnel, or surviving spouse of a veteran? You can apply for a Veteran’s Administration loan with us, a qualified VA lender. Take advantage of your right to apply for a VA loan to get into your new home or refinance your current loan!
DENNIS PAPIERNIK
Mortgage Consultant direct: (630) 873-6342 dennis.papiernik@movementmortgage.com www.dennispapiernik.com NMLS: 197162 www.movementmortgage.com
• • • • • •
No down payment VA funding fee may be financed No application fee No cash reserves (If no other property is owned) 1-4 units primary residences No monthly mortgage insurance premiums
REAL ESTATE AGENT
Zip Realty Realtor Office: 630.123.1234 Cell: 630.123.1235 TopProducer@Realestate.com www.topproducer.com
Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is a "Illinois Residential Mortgage Licensee" by the "Illinois Division of Banking" Lic # MB.6760898. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.