hfa'S Mortgage Process

     

How do I Lock-In?

You may Lock-In as soon as we have a completed Mortgage Application (1003) in our possession. The application must meet our lending guidelines. Tell the Loan Originator you're working with "I'm ready to Lock-In" and they'll be happy to take you through the next steps. The Loan Originator will help you select the mortgage program and interest rate that's best for you.

How do I apply with HFA?

You may apply for a mortgage with Home Finance of America over the phone with one of our fully licensed Mortgage Loan Originators by calling 1(800)358-5626. The application process only takes about 10 minutes.

How quickly can I close?

Typically, our mortgage process takes less 30 days from start to finish for traditional refinances and purchases. We kindly ask you to be diligent in providing your Loan Originator with any supporting documentation they may request from you after you Lock-In. This ensures our underwriters will have reasonable time to review your loan file for final approval.

How's the appraisal conducted?

Your appraisal will be conducted by a licensed independent third party that we will select for you. Shortly after you Lock-In with Home Finance of America, you or your real estate agent will receive a phone call from an appraiser to schedule an inspection of the property being financed. After the appraiser performs their inspection they'll provide us with their report which will be forwarded to you.

When and where will closing take place?

For refinances, closing can usually take place anywhere you'd like, typically at your home before or after work hours. For purchases, the location is usually agreed upon by the parties involved in the transaction.

You're closing will be scheduled after HFA's underwriting department determines your loan file and the supporting documentation included within meets all applicable guidelines. For purchases, we'll do our best to ensure you are able to close on a pre-determined settlement date.

Will HFA provide a Pre-Approval Letter?

If you're in search of a new home to purchase, we'll offer you a Pre-Approval Letter for free. All you have to do is Apply and ask your Loan Originator for a Pre-Approval Letter and we should be able to email you the letter by the next day. This will help you learn about how much home you can afford and make you a more attractive buyer to sellers.

How does HFA conduct business long distance?

We use the latest technology and procedures that allow us to conduct business quickly and easily with borrowers all over the United States.

At Home Finance of America our goal is to offer you low mortgage rates and the best service available. Call us toll free at 800-358-LOAN (5626). Or, Apply Online using our secure server today. It only takes minutes and a Mortgage Professional is available to help you 7 days a week!