How to apply for a loan?
After you click the "Get Started" button, you are asked for what purpose you want to use the funding. If you choose "Purchase", then you are redirected to the Loan Butler page, where you can apply for a loan. Then click on "Let's Begin". State if you have used the company's services before. Then fill in the information about yourself: your name, email address, and home address. Next, come up with a password to log in to your account on the site. Next, you need to fill in the information about the property you want to purchase, your annual income, and your source of income. Then confirm the submission of the application.
Requirements
The minimum credit point for an FHA loan is 580. Your debt-to-income ratio can be only 50%.
For a USDA loan, you can show your credit history with subscriptions, rentals, and monthly bills. Your income can be up to 115% of the average income of the region in which you live.
To get a VA mortgage, you must be an active military serviceman or woman, veteran, or surviving spouse.
To get doctors only credit, your credit score must be at least 680, but the recommended FICO credit score is 700. Your debt-to-income ratio should be 45% or lower. You must be a doctor or have confirmation that you will go to work as a doctor within the next 90 days.
For a jumbo loan, your FICO score should be at least 700, and the debt-to-income ratio 43% or lower.
For a renovation loan, the minimum credit point should be 580. Also, for the renovation of the house, you must attract certified contractors.
Application details
The documents will need to be uploaded after the loan pre-approval. You will need to download bank statements for the last three months and your Social Security number. You may be refused if you do not meet the criteria for applying or if the address of the housing that you want to purchase is incorrectly indicated.
