Obtaining a mortgage preliminary approval is a great place to begin when buying a home. But if you want your home purchase offer to stand out to sellers, ask for the Prosperity Home Mortgage Buyer Advantage.
By electing to participate, you can get much of the home financing process out of the way and obtain a Commitment Letter before you even begin searching for a home. What are the benefits?
Complimentary: Choosing to participate costs you nothing additional.
Distinguished: A Commitment Letter can set your home purchase offer apart from other offers a seller maybe considering.
Smooth: With much of the home financing process completed up-front, additional requirements or conditions can be identified to help prevent last-minute issues.
Flexible: You may have the option of being more flexible with your closing date and also help ensure an on-time closing.
You should also consider the Prosperity Buyer Advantage FASTRACK, which features expedited processing and underwriting for certain loan products. In a fast-paced real estate market, home buyers often need quick answers about mortgage and financing. To use FASTRACK, clients will be asked to provide these documents at the time of loan application:
30 days’ most recent pay stubs with year-to-date information for all jobs and for each borrower.
W-2 forms for the 2 most recent years for each borrower.
Federal tax returns for the 2 most recent years for self-employed borrowers, or borrowers where other income/ loss is listed (i.e. Schedule E rental income, interest, business expenses not reimbursed, etc.).
Most recent 2 months of asset statements for all funds needed for down payment and reserves
Source: Prosperity Home Mortgage
Visit www.phmloans.com for program terms.