How to apply for a loan?
You can apply for a mortgage online, by phone, or in person if you reside near a branch location of Homebridge. You begin by answering a few questions and providing your contact information online, and a representative from Homebridge will get back to you.
After that, a representative explains that you'll be asked to register an account and provide some financial information. Homebridge's customer portal allows you to move forward with the procedure. As stated by Homebridge, you can apply for a full-fledged mortgage online, upload papers, and watch the status of your application. You can also obtain and return loan disclosures electronically, by mail, or in person, Homebridge says.
Requirements
To qualify for any loan offered by Homebridge Financial Services, you must meet the minimum borrower requirements for each loan. The minimum down payment for an FHA loan is 3.5 percent, and the maximum debt-to-income ratio (DTI) is 57 percent. There is a maximum DTI ratio of 50% for conventional loans, and the borrower must put down at least 3% of the purchase price (depending on income). Homebridge Financial Services offers one of the lowest credit score requirements for government-backed loans, with a 550 FICO score. Many of these loans require a credit score of at least 580 and, in some cases, 620.
Application details
You'll need to provide a few documents so your loan application may be processed and closed:
Photo ID and SSN
Two-year-old addresses
Two-year employment (previous and present)
Two tax returns and two months of pay stubs
Latest two or three months' checking, savings, money market, IRA, mutual fund, and brokerage (stock) account statements
The original purchase agreement for purchases.
Homebridge has a credit report pull for each customer to identify credit card debt, installment loans (such as student loans), car loans, and your current mortgage or home equity loans if you're refinancing.
