Buying a home should be exciting. Falling in love with the perfect house and picturing your future memories of family and friends is exhilarating. It’s a big change and there’s a lot that goes into it.
That being said, the actual process of buying a home can often be more stressful than exciting. It requires a lot of moving parts, a lot of paperwork, and a lot of fine details. For that reason, the professionals chosen to facilitate your transaction are crucial.
There’s regulations, deadlines, and disclosures that should be handled with care by experts you can trust. The most delicate element in this process is your home loan. Finding the perfect house and negotiating the deal is only half battle.
Once it lands on your lender’s desk, it is a time-sensitive race to dot all your I’s and cross your T’s. Who you choose to process and fund your loan matters. For this reason, I recommend a mortgage lender who has proven to be reliable and successful time and time again.
Sean Uyehara with Citywide Home loans.
Sean has been a mortgage lender in the valley for 11 years. He’s witnessed first hand and worked through the roller coaster market that has taken place since 2006. One of his most valuable attributes is his dedication.
When you call, he answers. Every file no matter the price is handled with upmost importance. The advantage of Citywide Home Loans is that its an all-inclusive mortgage banker. As Sean puts it,
“We’ve brought the entire loan process in-house — origination, processing, underwriting, funding, and servicing, so we can offer our clients and partners the fastest closing times in the industry.”
He has a resourceful and experienced team that understands exactly how the loan should be packaged to meet all underwriter requirements. This allows them to consistently close on time.
Additionally, Sean and his team are committed to communication. The client and all parties involved can expect multiple updates per week, so there is never a question about where the file is at.
With clear expectations set, stress is reduced and the process flows much smoother. A true testament to his services, are his very first clients. A couple that purchased a home with him 11 years ago, have since returned in recent years to buy two more with his services. Sean’s philosophy, under promise and over deliver.
In a recent conversation with Sean, I asked him to provide some insight about jumbo loan programs and ways to prepare for buying. Here’s what he said.
If I’m planning to buy in 6 months or a year, how should I start to prepare?
The first step is always to ensure your credit score and history are clean and ready to go. If you are unsure of where you stand, your best bet is to speak to a lender to see exactly what your score and history may look like.
We have programs in place where if the client does need some help fixing their credit, we can walk them through that process. Many clients feel like they are wasting our time by pulling their credit if they aren’t ready to buy right away.
I always tell them we are here to help. That is our number one focus. We want to make sure they get the best program and rate possible. Whether the client is ready to buy today or in one year, we want to be there every step of the way.
Once the credit score is where it needs to be, we just need to review their financials. My advice to every buyer, is keep track of your documents, i.e. pay stubs, W2 forms, tax returns, etc.
Documentation is very important during the home buying process. The more organized you are, the more streamlined of a loan process it will be for everyone.
What loan options do you recommend for home prices over $1m?
There are multiple options for Jumbo loans. There is your traditional 20% down payment program, we offer a 10% and 5% down payment option as well for homes selling north of 1 million dollars.
I would recommend a buyer to do a 20% down payment on any home purchase as this is the best financial option generally speaking, however, there are multiple options we can review for our potential clients based on their needs and financial situation.
What is the average link of time for processing jumbo loans?
Depending on the bank the back the funds the loan, we can close in 30-45 days.