JVM probably has the most thorough Home-buyer pre-approval process in the industry. We follow these steps with every buyer.
Step #1: We talk to buyers at length. We get to know them. We discuss income, down payment, credit, desired purchase price, financing options, the purchase process, etc. We also spot and address potential issues.
Step #2: We follow up our conversation with an email summary, and we always copy the Realtor who referred the buyer to us.
Step #3: We email our JVM Documents and Information Needs List. This list contains everything we need to get the borrower formally approved. We again copy the referring Realtor.
Step #4: We educate. We email our Homebuyer’s Memo and our Purchase Process Overview, among other things. These are concise documents of our own making that do a wonderful job of explaining almost every aspect of the purchase process. This is an area where most lenders fall woefully short. We again copy the referring Realtor.
Step #5: We email detailed payment and closing cost scenarios based on a borrowers estimated or desired purchase price. We use sophisticated software that sets out our scenarios in a very clear format. We again copy the referring Realtor.
Step #6: We explain potential tax benefits. We are not allowed to ever give tax advice, but we do take the time to remind all home-buyers about potential income tax savings. This is key for renters who are apprehensive about increasing their overall housing payments. We again copy the referring Realtor.
Step #7: We input everything into our database, and we follow up, and follow up, and, if necessary, follow up.
Founder/Broker | JVM Lending
(925) 855-4491 | DRE# 01524255, NMLS# 335646