Buying a home? Get a step ahead with the FM Lending 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 FM Lending Buyer Advantage®.1
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.
And ask about the FM Lending Buyer Advantage® FASTRACK!
We are excited to offer FM Lending Buyer Advantage® FASTRACK, which features expedited processing and underwriting for certain loan products.2 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 FM Lending Buyer Advantage®!
1. Buyer Advantage® is not a final 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. 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 FM Lending Buyer Advantage® Fastrack. Eligible borrowers must have a FICO credit score of 640 or greater, no bankruptcies and no foreclosures.