You Know the Drill
You’ve done it before, let us help you do it again. We’ll guide you through the process and get you into the right loan for your situation. Here are some ways we can help you build your real estate portfolio.
Let’s get the disc flying.
Get pre-approved for your next home.
Why Choose the Ultimate Lending Team?
If you’re looking to refinance your mortgage, we have the resources, products, and assurances to make it happen. We are a team of open, honest, and empathetic individuals invested in your success.
Jim and his team made buying our first home out of state such an easy and memorable experience. Life has been amazing here in Oregon and an adventure we'll always... Read More2/09/2019
Helpful and responsive team that supported us during the home search as well as the purchase. The quick-close was our differentiator that made our offer stand out!!8/02/2021
Very helpful, informative, and friendly. Great group to work with!11/08/2019
Jim was absolutely outstanding from start to finish. He and his team stayed on top of our transaction, had clear and effective communication and were flexible throughout the process. I... Read More4/29/2019
The team at Ultimate lending has now helped me with two mortgages and both were incredibly smooth (even with complex finances and multiple party mortgages). Both my loans closed on... Read More3/11/2019
Andrew is just the best person to work with! He is creative, friendly and unbelievably prompt! He always has time for our many questions and went above and beyond to... Read More12/01/2021
Home Buyer FAQs
Your first move is to get pre-approved for a loan. After you’ve been pre-approved, you can know more specifically the price of the home that you can afford.
A pre-qualification is an estimate of what you may be able to borrow. This is a fast way to get a look into the price range for your home. Pre-approval means a financial institution has partnered to work with you and has reviewed your finances arming you with more leverage when making an offer.
A pre-approval is the lender’s written commitment to finance your home purchase up to a specific amount. Getting pre-approved is a smart idea for the serious home buyer. Real estate agents and sellers of homes want to make sure you are a bona fide buyer. With a pre-approval letter in hand, they will not have to wonder if they are wasting their time with you. You have the clout of a buyer ready to make a valid offer right now!
The good news is you no longer need 20% for a down payment! There are different loan options, but the average down payment is now 3% to 5%. You also don’t have to put any money down if you, or the property you’re purchasing, qualifies for a VA or USDA loan. Learn more about the different types of loans Ultimate Lending Team offers.
Mortgage insurance compensates a lender for losses in the event of a default on a mortgage loan. In other words, if a borrower falls behind on obligations, mortgage insurance covers the lender. PMI is generally required for mortgage loans for those who cannot generate at least a 20 percent down payment for the conventional loan, however there may be options available to you that we can tell you about!
An escrow is used to fund insurance, property taxes, and homeowner’s association dues. This is managed by a third-party, done through your mortgage payments. It tends to prevent late fees, coverage delays, or liens on your home.
You can always walk away from a deal, but in some cases you might have to give up your earnest money. This normally amounts to about 1%-2% of the price of the house.
The Ultimate Lending Team is built for speed. You can close on your new loan in as soon as 2 weeks.