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| How much of a downpayment do I need? |
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There is no set amount you need to put down. There are conforming programs that require as little as 3% down
or non-conforming programs that require no downpayment at all. The amount you put down could affect your
interest rate.
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| What if I do not have any established credit? |
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GivingTree Capital Lenders will work with you to obtain alternative credit such as using rental histories, utility bills and phone bills as reference. We will find a loan for you based on the information you are able to provide.
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| What if I had past credit problems like a bankruptcy or foreclosure? |
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Past credit problems do affect the amount of money you can borrow. If you have re-established your credit after a bankruptcy or foreclosure, you can qualify for a conforming loan or a non-conforming loan. If your bankruptcy has been recently discharged, GivingTree Capital Lenders has a program to fit your needs.
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| How much of a loan can I qualify for? |
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The amount of money you can borrow is dependent on your income, assets, debts and credit history. To help you determine the approximate amount you can borrow, go to the pre-qualification section. This will give you a guideline on how much financing you can obtain.
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| How do I get started? |
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It’s simple. Go to our home page and click on one of our three loan programs, Purchase, Refinance, or Second mortgage. Once you have chosen the loan type you want, complete our online pre-qualification form and finally move to our application. If you need help, click on either the Tools or Advisors link on the bottom bar of any page.
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| Can I lock in a program and interest rate online? |
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Yes. You can request a rate lock after you have returned your package to GivingTree Capital Lenders and we have reviewed your documentation and credit information. We will notify you via e-mail or telephone when you are able to request a lock.
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| How quickly will my loan be approved? |
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You will receive a response from GivingTree Capital Lenders immediately after your application is submitted. Once your application is received, you can expect to receive an answer within 24 hours. The time required to process your application will be related to the completeness of your application.
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| What is the cost to submit a loan application? |
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This is ABSOLUTELY FREE to you! At the time of closing, there could be minimal closing costs that you may be responsible for. Your loan officer will keep you informed every step of the way.
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| After I am approved for a loan what should I expect? |
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Once your loan application is approved, whether you applied online or by mail, you will get notification from GivingTree Capital Lenders that your loan is processing. Within 2 business days you will receive a loan package via U.S. mail with a set of loan documents for your signature. This mailing will also include a list of documents we will need to complete your loan.
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What kind of documentation will I need to provide to GivingTree Capital Lenders for verification?
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There is no single list of documents needed for all applicants but you should be prepared to provide copies of bank statements, W-2's or any other pertinent document necessary to GivingTree Capital Lenders. There are also programs that allow you to obtain a loan without any income verification.
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| Where do I close? |
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The closing normally takes place within 30 minutes of your home. The closing is usually at an attorney’s office or at a title company’s office depending on where you live.
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| When will I be ready to close my loan? |
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| Closing will be done once GivingTree Capital Lenders has received the required documentation and our underwriter has signed off on the conditions. This usually takes approximately 2-3 weeks. |
