Superior Customer Service
If you are a first time home buyer looking for a home purchase loan you need a lender that you can count on. We can ensure a smooth and efficient purchase or refinance transaction every time. We don’t want to earn your business for one transaction, we want to develop a lasting relationship and prove that we’re committed to helping you build your financial future.
No Out-of-Pocket Fees
We do not charge any up-front or out-of-pocket fees during your home finance transaction. With our products available at absolutely zero cost, it is never a risk to work with our company. Many lending companies charge an upfront Application Fee along with a Credit Report Fee and a number of other miscellaneous fees.
At Prospect Home Finance, we do not make a penny until your loan closes, so you will know that getting your loan funded will be our top priority!
What Happens at Closing?
The property is officially transferred from the seller to you at “Closing” or “Funding”.
At closing, the ownership of the property is officially transferred from the seller to you. This may involve you, the seller, real estate agents, your attorney, the lender’s attorney, title or escrow firm representatives, clerks, secretaries, and other staff. You can have an attorney represent you if you can’t attend the closing meeting, i.e., if you’re out-of-state. Closing can take anywhere from 1-hour to several depending on contingency clauses in the purchase offer, or any escrow accounts needing to be set up.
Most paperwork in closing or settlement is done by attorneys and real estate professionals. You may or may not be involved in some of the closing activities; it depends on who you are working with.
Prior to closing you should have a final inspection, or “walk-through” to insure requested repairs were performed, and items agreed to remain with the house are there such as drapes, lighting fixtures, etc.
In most states the settlement is completed by a title or escrow firm in which you forward all materials and information plus the appropriate cashier’s checks so the firm can make the necessary disbursement. Your representative will deliver the check to the seller, and then give the keys to you.