home loan

Shea Mortgage can help you pre-qualify for a new home!

by Shea Homes Arizona on March 7, 2014

Finding out if you qualify for a mortgage is the deciding factor of your future to settle down in a beautiful home, but with Shea Mortgage, we make it as effortless as possible. In this blog, we will give you a recap of our YouTube video, taking you through the quick and easy steps to fill out your mortgage pre-qualification form. The best part, it’s all online and you don’t need to gather any additional documents just yet! Simply begin by going to www.SheaMortgage.com. You can also find Shea Mortgage through www.SheaHomes.com and scrolling down to the very bottom of the page, where Shea Mortgage is listed under Shea Companies.

On the left sidebar of the website, there are six buttons to page links that are listed 1) Mortgage Center 2) Apply Now 3) Resources 4) FAQs 5) Calculators, and 6) Loan Originators. You will start your pre-qualification process by clicking on the Loan Originators button so that your application gets to the right loan officer.

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Next, you will scroll through the Loan Originators page and choose the loan officer that represents the communities you are interested in. You will know which loan officer to choose after you have visited a Shea Homes community where the sales representative has advised you the correct loan officer for that community.

You will be brought to your loan officer’s page, where their contact information is listed along with an “Apply Now” link. Click this link to get started filling out your pre-qualification form for Shea Mortgage.1.2

You will be brought to a page that gives you two options: 1) Start a new application or 2) Finish and existing application. Choose option one, and then go through the steps to create your login username and password.

The next tab, titled “Start App”, takes you through the Federal Law Requirements, Browser Specifications and important disclosure information. Take a minute to read this through, and click “Next”. The following page hosts the most important question, “What can Shea Mortgage do for you?” Four options are listed. Since this tutorial is for pre-qualification, we will go ahead and click that, which means you are shopping for homes and do not have an accepted contract with Shea Homes just yet. A few more questions follow about who is applying, how the home will be used, request for your email address, and how you heard about Shea Mortgage.1.6

Click “Next” and begin entering your estimated property details as accurately as possible. For the “Purchase Price” box on this page, be sure to list a price that would include the base price of the home, plus any potential upgrades you may choose.

The next few pages require personal information, such as your social security number, date of birth, current address, employment information, etc. There is a box you must check stating that Shea Mortgage may obtain your credit report. If you have already had your credit report pulled at a Shea Homes community with a community representative, your loan officer will obtain your report from that community rep.1.3

After entering your personal information, you will land on the “Asset Info” tab where you will specify the types of assets you’ll be using for the cash required to close.

1.4Click “Next” and you will fill out simple questions about your personal history and background. At the bottom of this page, you will be asked if you would like to review all your application information before submitting to your loan officer. Click yes, and you will be brought to a screen that collectively shows all the information you just filled out on one page. In the top right corner, you can print this information by clicking the printer icon.

Click “Next” and you will see a box asking if you would like to add any extra information. This is a good opportunity to list the communities you are interested in.1.5

Hit “Submit Application” and you will be contacted by your loan officer shortly!

To watch our informational videos, please visit our YouTube channel.  For more information on Shea Homes and what we’re up to in Arizona, like us on Facebook, follow us on Twitter, and find some inspiration on Pinterest!

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How do I prepare for my home buying process?

by Shea Homes Arizona on June 21, 2013

Preparation is key to anything, whether it’s a work meeting, an interview or your child’s first day of school; it always easier to see 1the big picture when everything is laid out in front of you. We encourage the same preparation when you begin your home buying process. It will also impress your mortgage consultant! Below, we answer your frequently asked questions regarding paperwork you may need to gather when getting approved for a loan:

Q: How do you decide what you need from me to process my loan?

A: The information you provide in the application on the Shea Mortgage website is verified on the automated underwriting system that we use. This system compares your financial situation with statistical data from millions of other homeowners to see where you fit in the spectrum.  Depending on this comparison, the level of verification 2and paperwork needed is determined. In the Homebuyer Seminar: Getting Started Buying a Home video, our mortgage experts explains that many cases simply require a W-2, a pay stub and a bank statement to verify your assets and income.

Q: I am selling my current home to purchase this home. What type of documentation will be required?

A: A copy of the settlement or closing statement from your current home is required to verify that your current home mortgage has been paid in full and that you will have sufficient funds for the closing of your new home. Typically, the closings of both your current home and new home are scheduled on the same day, so bring the current home paperwork to your new mortgage closing.

Q: I have income from dividends and/or interest. What documents will I need to provide?

A: To verify the amount of your dividend and/or interest income, we require two years of personal tax returns so that an average of the amounts you receive can be calculated. Copies of statements from your financial institution, brokerage statements, stock certificates or Promissory Notes are also required to verify your ownership of the assets that generate the income. Documentation from the dividends and/or interest for at least three years is considered for repayment.

Q: Do I have to provide information about my child support, alimony or separate maintenance income?

A: No documentation is required pertaining to child support, alimony or separate maintenance income.

For more information on our communities and mortgage team, please visit the Shea Homes website. For instant updates, facts, photos and videos, “Like” our Facebook page and follow us on Twitter, YouTube and Pinterest!

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