No matter what season of home ownership you’re in (first time home buyer, seasoned pro or refinancing) there are always terms, phrases and mortgage questions that can trip you up and make the process seem overwhelming.
We know that most people aren’t going to have an in-depth knowledge of what goes into the home loan process, which is why we have the experts and tools that do.
The Digitally-Advanced Home Loan Process
When you apply for a home loan through Wyndham Capital Mortgage, you’ll be getting a home loan process unlike anything you’ve ever experienced.
Our award-winning technology gives you a smoother and more efficient home loan process to get you results faster than traditional lenders. Every one of our digitally enhanced loan options save you time, money and energy you can then invest in your busy everyday life.
Here we’ll review the step-by-step process you can expect when you work with Wyndham. Also, we’ve put together a helpful list of mortgage terminology where you can easily access all of the possible terms you might see throughout your home loan journey.
Pre-Approval
Completing a digital mortgage application is fast, easy and gives you the leg up on the competition by getting you pre-approved in less time than other lenders. We’ve adopted Fannie Mae’s Day 1 Certainty allowing us to waive appraisals, collect all necessary financial information electronically through AccountCheck and skip collecting a W-2 when we verify employment for all eligible borrowers whether you’re buying new or refinancing.
Time is of the essence when you find the house of your dreams. Wyndham Capital’s Priority Purchase mortgage pre-approval program gives you extra buying power with a professionally underwritten, automated pre-approval letter. With Priority Purchase you’ll be able to put in a property-specific offer on demand from your mobile device. Go beyond the basic credit check and get approved by verifying other lending factors sellers and realtors want to see from serious buyers. After all, your dream home isn’t going to wait for you!
Search for Your Home Through MLS or Recruit a Realtor
You’ve been successfully pre-approved – congratulations! Now it’s time to find a home using the nationwide MLS (multiple listing search) database. This is the same database realtors use to find homes on the market in real-time and is not typically accessible to the general public. Using MLS will give you a head start on finding homes in your desired neighborhood as soon as they hit the market.
If you plan to use a realtor, now is the time to enlist their help. As a Wyndham customer you’ll gain free access to the HomeScout app which allows you to schedule tours, find a realtor, contact the homeowner and find extensive data on your desired neighborhoods, all from your phone.
Loan Lock
A loan lock is a commitment your lender makes to honor a specific interest rate or loan feature for a definite period of time. A loan lock protects you, the borrower, from surprise interest rate increases between the time you apply for a loan to the loan closing.
With Wyndham Capital you’ll lock your loan through your choice of our digital portal or with an expert mortgage consultant. This allows us to begin processing your loan for a timely closing.
Virtual Closing
You’ve found your home, locked in your competitive low rate, had your offer accepted, and you’re ready to close! Gone are the days of rearranging your entire day to close at an attorney’s office or registry of deeds. With virtual closing options, you’ll have the ability to review and sign all the majority of your documents in (either) the presence of a notary, or digitally sign over live video.
As a Wyndham Capital customer you’ll be able to begin the closing process anywhere, anytime and with no hidden fees. Our award-winning robotics have replaced menial tasks and unnecessary paperwork while cutting the overall loan process time, beating the industry average by 60 percent and getting you into your new home sooner.
Whether you’re a first time home buyer or a seasoned homeowner looking to apply for your home loan or you’re looking to refinance, Wyndham Capital Mortgage has the competitive home loan options you want and the expertise to avoid the headaches you don’t, which is why savvy buyers choose us. Save time and money when you partner with the leaders in modern mortgages. From pre-approval to e-Closing and everything in between, Wyndham Capital Mortgage is ready to answer all of your questions and get you into a home loan perfectly tailored to your life.
Interested in learning more about how Wyndham Capital can help you achieve your home lending goals?
