Ideal Home Loans has been lending since 2001 and seems to have a professional approach to the process. They offer many types of home loans, for occupation as well as investment, which they encourage. The list includes conventional & jumbo loans, FHA Loans, VA Loans, fixed & adjustable rates, 10 to 30 year terms, full qualifying & streamline re-financings,first-time buyers, home remodels, 2nd/vacation homes, and debt consolidation. There website is well balanced between information and usable digital tools. The language is accessible to the non-expert in financial affairs, but most of the descriptions tend to be bullet points.
Ideal Provides Lists and Calculators to Simplify the Process
When a lender makes a decision about a mortgage application, they consider many basic factors: all based on your ability to repay the loan. To ensure your loan is truly affordable, a lender will verify your employment and income. Next they will consider your monthly “Debt to Income” ratio which consists of your total income, minus monthly credit payments and other debts will also be considered.The paperwork you will need to gather will include pay stubs, tax forms and bank statements at minimum. Next, they will place great emphasis on your credit score which they see as representing your willingness to pay back your debts. This is where your credit history can become relevant and they sound like they are willing to consider those with past credit issues. Ideal provides a document list so you can prepare before engaging with a loan counselor and start getting a sense of what goes into the calculus.
Speed and Technology with Expert Guidance
Ideal presents themselves as making a good mix of new technology and personal contact with well informed specialists who will explain all the details. Although there are some tools that can help you make some assessments on your own, but some external research that gives you more information on the specific conditions and terms of borrowing.