Buying a home? Get a step ahead with the Arkell Barnes Buyer Advantage
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 Arkell Barnes Buyer Advantage1.
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.
Ask about the Arkell Barnes Buyer Advantage FASTRACK
We are excited to offer Arkell Barnes Buyer Advantage FASTRACK, which features expedited processing and underwriting for certain loan products2. In a fast-paced real estate market, home buyers often need quick answers about mortgage financing, and FASTRACK can accommodate!
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
Don't waste time during the home financing process. Ask for the Arkell Barnes Buyer Advantage!
LOCK, SHOP & HOME!
Part of the Arkell Barnes Buyer Advantage Family
Submit your home loan application and lock in your interest rate!
With the Arkell Barnes Home Mortgage Team, we understand searching for a new home often takes time, which can add stress to the home buying process if rising interest rates or market volatility are a concern while you shop.
Good news! The new Arkell Barnes Buyer Advantage Lock, Shop & Home program may be able to help! Eligible home buyers who choose to participate in the Arkell Barnes Buyer Advantage program3 may now also have the opportunity to lock in an interest rate before finding a home.
Here are a few features of Lock, Shop & Home!
• No property address is needed at the time of application and rate lock.
• Lock an interest rate up to 90 days.4
• Conforming loan amounts available up to $424,100 and high balance loan
amounts available up to $636,150.5
• May be used with conventional or government fixed rate loan programs.6
For more information on these fantastic programs:
1. Arkell Barnes Buyer Advantage is not a loan approval. A Commitment Letter is based on information and documentation provided by you and a review of your credit report. The interest rate and type of mortgage used to approve you for a specified loan amount is subject to change, which may also change the terms of approval. The interest rate cannot be locked until your offer to purchase a property has been accepted. If the interest rate used for credit approval has changed, you may need to re-qualify. Information provided by you is subject to review and all other loan conditions must be met. After you have chosen a home and your offer has been accepted, final loan approval will be contingent upon obtaining an acceptable appraisal and title commitment. Additional documentation may be required.
2. Bond loans, USDA loans, renovation loans and non-delegated loans do not qualify for the Arkell Barnes Buyer Advantage Fastrack. Eligible borrowers must have a FICO credit score of 640 or greater, no bankruptcies and no foreclosures.
3. Arkell Barnes Buyer Advantage is not a loan approval. Ask your mortgage consultant for details about Arkell Barnes Buyer Advantage. A Commitment Letter is based on information and documentation provided by you and a review of your credit report. The interest rate and type of mortgage used to approve you for a specified loan amount is subject to change, which may also change the terms of approval. If the interest rate used for credit approval has changed, you may need to re-qualify. Information provided by you is subject to review and all other loan conditions must be met. After you have chosen a home and your offer has been accepted, final loan approval will be contingent upon obtaining an acceptable appraisal and title commitment. Additional documentation may be required.
4. Additional fees may apply.
5. $636,150 maximum loan amount is available in high balance areas only. Contact your mortgage consultant for details.
6. Lock, Shop & Home program is not available for bond, jumbo, or renovation loan programs.