Consultant Booklet-Jones Team

Buying Your Home Melisa Jones

Lend-STL | Lend-KC | LoansWithJones

Melisa Jones Branch Manager | NMLS# 965518

I have been in the mortgage industry since 2006 and currently rank in the Top 1% of Mortgage Professionals in the Country.

I originally went to college with hopes of being a teacher but I quickly learned that I’m most passionate about helping people with their finances. After buying my first home, I realized that most banks treat their clients like transactions and they aren’t offering guidance or education and I set out to do mortgages differently. I also volunteer at a local High School, with their Varsity Volleyball Team as their Assistant Varsity Coach.

I have a husband and two daughters,

Awards

who also keep me very busy!

600+ 5-Star Reviews Top 5% Performer

Our Team Paige Westhoff Team Lead/Loan Officer Assistant

Dawn Douglas Lead Processor

Lori Harmon Loan Officer Assistant

Our Goal

Our Process keeps everything organized and everyone informed.

• Texting Is Quick But Information Gets Lost.

• Phone Calls Are GREAT To Explain Complex Ideas. More Personal • Email Is Best: REPLY ALL Is Great.

• Lots Of Paperwork - Documents Need To Be Sent In As Requested.

• No Screenshots • Photos Can Difficult • Web Pages Need A Url

Requirements for Loan Approval

Credit

Credit

Income

Assets

Credit • Credit Score is Important!

• But we also need to know about: • Judgements • Bankruptcy • Foreclosure • Delinquent Federal Debt - Payment Plans • Disputed Accounts and Authorized User Accounts

Credit Credit

Income Income

Income

Asse

Assets

Debt-to-Income Ratio

Please Confirm the Following: • You are a Permanent/Full-time Employee • Are you paid Hourly or Salary?

• Relocation? Job Changes?

• Self-Employed Income – please do not file your tax returns during this process • Grants and VA loans – additional household income or residual income

We need to account for all liabilities, that can include: • Mortgage/Rent • Student Loans • Credit Cards • Collections • Child Support/Alimony • IRS Payments – Past Due Taxes • Childcare (VA Only) • NEW ACCOUNTS

Credit

it

Income Income

Income

Assets

Assets

Assets Checking/Savings Mutual Funds/Investments/Stock/CD Retirement Accounts Gift Down Payment Assistance/Grant

Selling Items of Value?

Proceeds from Sale

Car/Truck/etc.

Boat/Motorcycle Jewelry

Venmo

Gift (from immediate

family members)

Down Payment

Down Payment Options • 0% Down • 3% Down • 3.5% Down • 5%-20% Down • >20% Down

+ Closing Costs Loan Origination

$1,495

Appraisal

$500

Points (if applicable)

?

Misc Paperwork $350+ Title Fees

$1,000-$2,000+

Days of Interest until 1st Pmt

?

HOI (1 year)

$1,200-$4,000+

T&I Escrow Deposit

$500-$1,500+

Inspections, HOA, etc

Loan Types & Programs • • • • • •

Conventional FHA VA USDA Renovation New Construction

• Jumbo • Portfolio • Grants and Down Payment Assistance • NAF Cash

Payment & Down Payment Scenarios • • • • •

Principal & Interest Real Estate Taxes Homeowner’s Insurance Private Mortgage Insurance (PMI) Homeowner’s Association Fees (HOA’s)

Strategies & Getting Your Offer Accepted • Normal Contingencies • Inspections/Title/Insurability • Financing Contingencies • Loan Type/Down Payment/Appraisal • Local Lender/Pre-Qualified vs Pre-Approved vs Unwritten • NAF Cash - Our Cash Buyer Program

over 90%

The Rent-Back We proudly service Occurs after the 1st transaction.

Calculating Rent Payments

of our Conventional, FHA, and VA loans inCalculation is based off the first transaction’s purchase price. house.Rent WeBack offer regionalized underwriting, will be reflected on the final invoice.

The Rentand Back is an neverin-house included on the settlement processing, condostatement. approval After 90 days rent will increase 10% each month. team, enabling you to build your brand and Payment Funds do not need to be sourced or seasoned area appraisal panel. And we have in-house experts who remove unnecessary Allowed Rent Back Payment Methods: red tape and make difficult things easier, helping you help your clients.

J

J

J

J

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Contact Me with Any Questions!

ACH (Electronic)

Check

Credit Card

Wire

For Purchase Prices Above

And Not Over Rent/Month

$0

$300,000

$1,800

$300,001

$400,000

$2,300

$400,001

$500,000

$2,800

$500,001

$600,000

$3,500

$600,001

$700,000

$4,000

$700,001

$800,000

$4,500

$800,001

$900,000

$5,100

$900,001

$1,000,000

$5,700

$1,000,001

$1,200,000

$6,800

$1,200,001

$1,400,000

$7,900

$1,400,001

$1,600,000

$9,000

$1,600,001

$1,800,000

$10,100

$1,800,001

$2,000,000

$13,000

Lease agreement will need to be signed prior to moving in.

Melisa Jones

Branch Manager | NMLS# 965518

636.439.9265 MelisaJones@nafinc.com LoansWithJones | Lend-KC | Lend-STL Terms and conditions apply. Subject to borrower and property qualifications. Not all applicants will qualify. This is not a loan commitment or guarantee of any kind.

Rates and terms are subject to change without notice. NMLS #6606. © New American Funding, LLC. Corporate office 14511 Myford Rd., Suite 100 Tustin, CA 92780.

Phone (800) 450-2010. http://nmlsconsumeraccess.org. 01/2025