East West Mortgage Can Open the Door to Buying Your New Home
A Home Buying Article Contributed by Rebecca Hunt
East West Mortgage Says, "Come on in, This House is Yours..."
You have to love a company with a can-do attitude. East West Mortgage is one of those companies that gives you a warm, optimistic feeling. In fact, the company slogan is, "We Put People Into Homes".
East West Mortgage is the type of company that allows you to picture yourself and your family in your first home or your larger, remodeled home or your new condo-by-the-sea. East West Mortgage has reverse mortgage programs that allow seniors to stay in their family homes. Yes, East West is just a lender, but it's a lender with real programs to suit real people's needs.
Some of the most popular loans available include No Points, No Closing Costs, No Income Verification, Zero Down, Bad Credit and Jumbo Refinance Loans of up to $1 million.
Online or over the Phone, East West Mortgage Makes Applying Easy
East West Mortgage uses its excellent customer service and its resourceful website to streamline your mortgage application process and answer any questions you may have. If you wander around their website, you'll find the various loan programs explained so you can see which loan might fit your needs best. There's also a wealth of information on credit repair, contractors in your area, current rates and FAQs that will answer most of your questions. There's also a terrific section that walks you through the loan process, step-by-step.
Once you apply for your loan, you'll be asked for some documents that will be needed to process it. If you already own your home and you're looking to refinance, you'll need a copy of your deed.
Other documentation will include:
A Purchase and Sales Agreement signed by all interested parties
A current pay stub
3 months of personal bank account statements
Last 2 years W-2s for each employed borrower
Last 2 years federal tax return
Optional documentation may be needed, as well. If you're a renter, you'll have to show a letter from your landlord stating the rent has been paid on time for the last 12 months. If you currently own a house that you're selling, you'll need a Purchase Agreement on the property. If you have any negative late pays on your credit report, you'll have to write a letter explaining why they were late.
East West Mortgage Brings It Home and Gets You There Fast!
The length of time it takes to get approved and close your loan depends on a few things such as your credit history, how much of a down payment you have and which loan program you choose. It's possible to be approved for your mortgage within 24 hours, but each application will vary. A good rule of thumb is to allow 7-10 business days for approval of your loan application.
If you applied for a mortgage and were approved through a pre-approval program, your loan might be able to close within 3 weeks after the purchase contract has been signed, but it's not uncommon to have a loan take 45-60 days from application to closing. However, East West Mortgage works tirelessly to close your loan and get you into your new home as soon as possible.
