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Underwriting Your Home Loan: 5 Reasons Why In-House Underwriting Is A Better Option

With in-house underwriting, lenders don’t view you as some number within some long list of files. To them, you’re a person with a unique story and special situation. Here’s why:

1: What in-house underwriting is, and why it matters.

In-house underwriting is one of the best ways for buyers to avoid the proverbial “middle man.” Lenders offering in-house underwriting are often closely, if not directly, linked to the loan officer and the underwriter. This helps buyers avoid jumping through multiple hoops. It also means the underwriting application process can be quicker and better communicated between each party.

The variety of different kinds of lenders – on top of the fact that there are millions of them out there – can be very intimidating and overwhelming for buyers. Only a few lenders offer in-house underwriting, and fortunately, Academy Mortgage Mid-Atlantic is one of them. And it gets better:

2: Buyers have more choices.

Imagine going to a store or restaurant and always getting to choose who serves you. With Academy Mortgage, our Loan Officers are not only available to answer any questions you might have, but you have the option to choose the Loan Officer you want to work with.

By law, agents can’t direct clients towards specific companies or lenders, nor can they accept referral payments. In other words, the system is designed for buyers to make their own choices and decisions. Sometimes the power of choice is all a buyer needs, but most of the time there’s another component of the process that makes a big difference:

3: The convenience of in-house underwriting.

In-house underwriting is often a one-stop shop for buyers. In most cases, buyers can search for a home and a loan in the same place, at the same time. Not only is this process convenient, buyers can feel more secure knowing their lender and real estate agent are in close communication with the buyer’s best interest in mind. Which leads to another benefit of in-house underwriting:

4: Open communication.

Academy Mortgage lenders walk borrowers through the process of purchasing their home step-by-step. With the buying process being pretty complicated, it’s nice to know that no stone is left unturned. Clear and open communication is the best way to not only feel comfortable with your experience, but confident too.

With in-house underwriting, buyers, lenders, and Realtors are all on the same page; finding and purchasing a home is more of a collaborative effort. When buyers are involved in every part of the communication it helps speed up the application process. Unfortunately, this doesn’t happen with all lenders offering in-house underwriting.

5: It’s important to choose the right lender.

While other lenders offer in-house underwriting, they might still treat you like a file number, won’t let you choose your Loan Officer, won’t provide the same convenience, and will fail to provide clear and open communication. With Academy Mortgage, you can feel comfortable and confident that the in-house underwriting process will be done the right way and with sole purpose of doing what’s best for you.

Resources Accessed:

http://arizonasmortgagetalk.com/house-mortgage-underwriting/

http://www.nytimes.com/2013/04/07/realestate/opting-for-in-house-loan-service.html?_r=0

http://library.hsh.com/articles/first-time-homebuyers/the-pros-and-cons-of-using-an-in-house-mortgage-lender.html

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