Frequently Asked Questions
What are the advantages of using First USA Home Loans?
First USA Home Loans offers the unique combination of experience, financial strength, fast approvals, and friendly, personalized service - a rarity in the mortgage industry. YOU are treated with the utmost respect and dignity, and each loan officers takes as much time as necessary to both answer all of YOUR concerns and determine the best solution for acquiring a loan.
Why should I select First USA Home Loans over other mortgage companies?
First USA Home Loans gives YOU the same respect and dedication, regardless of YOUR background or situation. No excuses, no buzzwords, just STRAIGHT TALK LENDING - when you apply with First USA Home Loans. We are so confident about serving you - we've developed a "Customer Bill of Rights" through "The 12 Things to Look for in Choosing a World Class Mortgage Company" - to help you establish a set of standards in which to measure us against our competition.
How do YOU begin the REFINANCE process?
Typically, refinancing YOUR new or existing home mortgage loan requires less documentation than when your originally purchased your home. You’ll need to provide a short list of items to YOUR loan officer with First USA Home Loans. Here is a short list of items you’ll need to gather for the loan qualification process:
- Complete Loan Application
- Most recent one month of consecutive pay stubs
- Most recent two years of consecutive personal tax returns
- Most recent two years of consecutive Corporate and/or Partnership tax returns (self employed only)
- Most recent two years of consecutive W2’s
- Most recent two months consecutive asset statement for each account (Asset statements include bank accounts, savings accounts, IRA, 401K, pension, and stock portfolios)
- Homeowners Insurance Declarations Page
- Most recent mortgage statements for the all existing mortgage loans and credit lines
- Copy of Driver’s license and Social Security Card
If your home purchase is now in escrow, you’ll ALSO want to provide the following documentation.
- Purchase Contract
- Escrow Instructions
How quickly will my loan be approved?
Your loan may be approved in as little as 30 days. However, since your cooperation is key, the loan takes as long as it takes you to respond to pending condition requests.
What will my interest rate be and how can I lock it in?
Once First USA Home Loans receives your application and all required documentation, you will be provided with your interest rate. This interest rate can be locked in for 30, 45, or 60 days once you have received final loan approval.
How can I check the status of my loan application?
Once you have received your pre-approval, you will be issued a user name and password to access your personal real time personal web-page. You can access real time loan status about the progress of your loan file with First USA Home Loans. You may also contact your loan officer at any time to answer your questions, address your concerns, or check on the status of your loan application. Call First USA Home Loans at any time at 949-275-3403.