Get documents about "Academy Ray's Concierge Form
Shared by: shuifanglj
-
Stats
- views:
- 6
- posted:
- 6/30/2011
- language:
- English
- pages:
- 22
Document Sample
Mortgage Concierge Program
Welcome to the Ray Ochoa Team
I look forward to assisting you on your upcoming loan. I want to take a minute to in-
troduce myself. When we have exceeded your expectations, please feel free to tell
your family, friends, and colleagues about us!
Ray Ochoa is a Senior Loan Officer for Academy Mortgage.
Ray brings more than 15 years of lending experience both for
mortgage bankers and mortgage brokers.
A portion of his career has been as a local business owner in
Yuma for over 25 years who’s focus has been passionately serv-
ing the customer.
Ray attended the University of Arizona where his focus was Busi-
ness Management. Ray brings that same level of customer ser-
vice and passion to his mortgage business. He has become a trusted advisor and
friend to the many clients has served over the years. Over the years in mortgage
lending, Ray has currently managed well over $124 million in his portfolio.
His passion is helping homebuyers overcome the fears and challenges of pur-
chasing and managing a home.
Under promise, and over deliver is what drives him to reach the goals that sepa-
rate him from today’s competition. He is hands on to ensure a smooth and stress
free process for you and your family along with your loan closing on time every
time.
I know that my team can offer the best service possible to benefit our clients. By utiliz-
ing the team approach, there is always someone available to meet your needs. I
look forward to a long and rewarding relationship with you!
Sincerely,
Ray Ochoa
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
MORTGAGE TIMELINE Mortgage Concierge Program
SUNDAY MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY
APPLY FOR LOAN YOU’RE APPROVED YOU FOUND IT
Meet with your Congratulations… Find the perfect
lender and take your loan is pre- home and make an
loan application. approved. The pre- offer.
Provide the items approval letter will
that are listed on be sent to you and
the “What Items your agent.
Are Needed” hand-
out.
OFFER ACCEPTED HOME INSPECTION LOCK THAT LOAN
Your agent will Time to order the If you have not
forward the Earnest home inspection discussed locking in
Money Agreement ($400?). Your agent a rate with your
(sales contract) to may have a good lender, now is a
your lender for referral if you need good time to do so.
review. one.
GREAT NEWS APPRAISAL HOME INSURANCE APPRAISER VISIT
Home Inspection Time for your Contact a home- Appraiser to review
was completed. lender to order the owner’s insurance home. The
Negotiate any nec- appraisal. agent and secure a appraiser will be
essary repairs with quote for the providing a value
seller. premium. based on compara-
ble home sales in
the neighborhood.
APPRAISAL DONE MISSING ITEMS? FINAL REVIEW
Appraisal returned Lender will request Appraisal and all
to the lender for any missing items updated income &
review. that may be needed asset documents
for final loan reviewed by the
approval. underwriter.
FINAL APPROVAL TITLE COMPANY CASHIER’S CHECK
Final underwriter Title company will Buyer brings in
approval! Lender work up your final remaining down
will now order loan “cash to close” payment and clos-
documents and numbers and sched- ing costs in the
send them to the ule a time for you to form of cashiers
title company. sign your loan docu- check. Signs loan
ments. documents at the
title company.
CONGRATULATIONS
Loan funds and
records. Congratu-
that you will have be- your first mortgage pay-
lations… You are FIRST MTG PMT tween 30-60 days before ment would be due Nov
now a homeowner!
CONGRATULATIONS ON YOUR your first payment is due. 1st. Only 360 payments
new home. One of the nice As an example, if your and it is yours free and
things about buying a home is loan funded Sept. 18th, clear.
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
Our Relationship With You
The Mortgage The Mortgage The Strategic Plan
Planning Package Needs Analysis We develop a strategic
This helps you gain greater We prepare a evaluation that helps you
clarity around how your per- detailed assessment in order integrate the loan you select
sonal financial situation im- to expedite and streamline into your over-all long and
pacts your home ownership your mortgage process, re- short term financial and in-
goals. duce your paperwork and vestment plan, to minimize
create a greater certainty. taxes, improve cash flow and
minimize interest expense.
We do want to be The Mortgage Planner that
you can refer your family and friends to.
The Complete
Mortgage Plan
Our goal is to take such great care of you and We prepare a detailed spe-
your loan that we earn not only your loyal busi- cific step by step plan to ob-
tain the right mortgage for
ness, but also your referrals to family and friends. you to help you achieve your
Our success has been built by referrals, one satis- goals and objectives
fied customer at a time
The Client For Life Program The Unique
The Mortgage Management System Mortgage Experience
We provide a unique mort-
gage concierge experience
We have designed a loan tracking and management process to designed to address any un-
ensure that your mortgage meets your changing needs and you foreseen obstacles and
have the most competitive loan terms over the life of your loan. facilitate the smooth and
carefree closing of your mort-
gage
The Client Appreciation Program
We do provide ongoing communication, recognition, and added
value to build and enhance our ongoing relationship with you.
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
THE PROCESS FOR BUYING A HOME
Your Loan We Order Credit We Issue Your
Application is Reports and Obtain Pre-Approval and You
completed and all From You Any Miss- Begin Looking at
Pre-Approval ing Documents Homes With a
Checklist Items are Professional
Collected Realtor
We Order Appraisal, We Meet with You You Find Your Home
Title Reports, Your and Determine the and Your Realtor Pre-
Hazard Insurance Loan Structure sents an Offer on Your
Binder and Other Based on Your Fi- Behalf Your
Necessary nancial Goals and Offer is Accepted and
Documents Needs Closing Date is Set
We Submit Your Final Approval Is Your Loan is Clear
Complete File for Issued Any and All To Close and the
Underwriting For Final Conditions or Closing Documents
Your Final Loan Stipulations are are Sent to the Title
Approval Collected and Company
Satisfied
Ray Ochoa And The CONGRATULTIONS We send You and
Entire Team Stay in You Go To the Your Realtor a copy
Touch and Imple- Closing and Become of the Final
ment Our Trusted the Owner of Your Settlement State-
Advisor For Life New Home ment for You to Re-
Philosophy view in Advance
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
TIPS FOR A SMOOTH LOAN APPROVAL
Here is a list of tips to help ensure an effortless loan process
These TIPS will help avoid any delays with your loan approval
DO continue making your mortgage or rent payments (on time)
DO stay current on all existing accounts
DO keep working at your current employer
DO keep your same insurance company
DO continue living at your current residence
DO continue to use your credit as normal
DO call us if you have any questions
DO NOT make any employment or income changes
DO NOT make any major purchases (car, boat, jewelry, fur, etc.)
DO NOT apply for new credit (even if you are pre approved)
DO NOT open any new credit card
DO NOT transfer any balances from one account to another
DO NOT pay charged off balances without prior discussion with us
DO NOT pay collections accounts without prior discussion with us
DO NOT buy any furniture
DO NOT close any credit accounts
DO NOT change bank accounts
DO NOT max out or go over limit on any credit card accounts
DO NOT consolidate your debt onto 1 or 2 credit cards
DO NOT take out a new loan
DO NOT start any home improvement projects
DO NOT finance any elective medical procedures
DO NOT open a new cellular phone account
DO NOT join a new fitness club
DO NOT pay off any loans or credit cards without discussion with us
If you encounter any special situations that could affect your credit, it is
best to discuss it with us immediately so that we can help you determine
the best way to achieve your goals
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
YOUR CREDIT SCORE Mortgage Concierge Program
BREAKINGDOWN
CREDIT101
thenumbers
The subject of credit scoring has become an increasingly hot topic, and for good
reason. For many years the general public only associated the concept of credit
scoring with the need to purchase high-ticket items such as a new car or a home.
1.5
AMOUNT OF CREDIT Today, credit scoring goes much further. Your credit score can affect your ability
CARDS THAT ARE IN to get a good rate on commodities such as car insurance, cell phones, or even
USE IN THE US: determine whether or not you get the job or promotion that you want and
billion deserve. Indeed, the financial snapshot provided by the credit score has also
become a gauge for many employers, especially those who seek to place
employees in a position of management or financial responsibility.
24
PERCENTAGE OF CREDIT
REPORTS THAT CONTAIN
ERRORS SERIOUS ENOUGH The credit scoring model seeks to quantify the likelihood of a consumer to pay
TO RESULT IN A DECLINE: off debt without being more than 90 days late at any time in the future. Credit
scores can range between a low score of 300 and a high score of 850. The higher
the score, the better it is for the consumer, because a high credit score trans-
THE OUTSTANDING lates into a low interest rate. This can save literally thousands of dollars in
10,637 BALANCE FOR HOUSE-
HOLDS THAT HAVE
CREDIT CARDS:
financing fees over the life of the loan.
HOW YOUR FICO SCORE
AVERAGE CREDIT
SCORE IN THE
UNITED STATES: 674 IS CALCULATED
The FICO score comes down to a constant flow of data between lenders, credit bureaus, and
Fair Isaac’s scoring formula that answers one question: How risky are you? The credit scoring
formula looks at the five criteria and assigns them certain weights according to the predictive
value of those items. It wraps all that into a three-digit score between 300 and 850.
659 AVERAGE CREDIT
SCORE IN ARIZONA: 35% Payment History
Paying debt on time has the greatest impact on your score. Delinquencies within the
last 2 years carry more weight than older items.
PERCENTAGE OF AMERI-
CANS WHO HAVE LESS
THAN A 700 FICO SCORE: 64 30% Outstanding Balances
This factor marks the ratio between the outstanding balance and available
credit. Ideally you should keep balances as close to zero as possible, and
definitely below 50% and/or 30% of the available credit limit.
79 PERCENTAGE OF CREDIT
REPORTS THAT CONTAINED
MISTAKES OF SOME KIND:
15% Length of Credit History
This portion of the credit score indicates the length of time since a
particular credit line was established. A seasoned borrower will
always be stronger in the area.
10% Type of Credit and Recent Inquiries
AMOUNT OF US
CREDIT CARD DEBT
REACHED IN 2008: 972billion
each Having diversified credit can help maintain a decent credit
score. A blend of installment loans and revolving debts may
help maximize your score potential. In addition, too many
recent inquiries (credit pulls) on your report may reduce
your score anywhere from 2 to as much as 25 points.
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
Items Necessary to Process Your Loan
We are genuinely interested in helping you obtain the financing necessary to acquire
the home you have selected or to refinance your current home without delay. In or-
der to expedite the processing of your loan, we request that you bring all forms and
information listed below to your appointment.
Initial Items Needed
1. Pay stubs covering the most recent 1-month period and showing the Year-to-Date
earnings and deductions. (Computer Generated)
2. W-2’s for the most recent 2 years
3. 1040’s (Personal Federal Tax Returns) the most recent 2 years
4. Photo copy of a valid U.S. picture ID or bring the ID with you for photocopying
5. Bank Statements for the previous 2 month period (Checking and Savings)
6. Statements for any other Liquid Asset for 60 days (IRA/401K/Investment Accounts)
7. Bankruptcy Papers (if applicable) (bring all pages and discharge paperwork)
8. Divorce decree or child support court order (if applicable)
9. Initially determine who you will use for Home Owners Insurance (get a quote)
If self employed (additional information requested)
1. Business Tax Returns for the most recent 2 years
2. CPA letter documenting 2 years minimum self employed with positive continued
outlook for business.
3. Two years business licenses (if applicable)
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
Shopping Around?
HERE'S THE INSIDE SCOOP ON HOW TO DO IT RIGHT!
First: make sure you are working with an experienced, professional loan officer. The
largest financial transaction of your life is far too important to place into the hands of
someone who is not capable of advising you properly and troubleshooting the issues
that may arise along the way. But how can you tell?
Here are FOUR SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BE ABLE TO AN-
SWER CORRECTLY. IF THEY DO NOT KNOW THE ANSWERS… RUN… DON'T WALK…
RUN… TO A LENDER THAT DOES!
1) What are mortgage interest rates based on? (The only correct answer is Mortgage Backed
Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note some-
times trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely
opposite directions. DO NOT work with a lender who has their eyes on the wrong indicators.)
2) What is the next Economic Report or event that could cause interest rate move-
ment? (A professional lender will have this at their fingertips. For an up-to-date calendar of weekly
economic reports and events that may cause rates to fluctuate, please call me directly.
3) When the Fed "change rates", what does this mean… and what impact does this
have on mortgage interest rates? (The answer may surprise you. When the Fed makes a move,
they are changing a rate called the "Fed Funds Rate". This is a very short-term rate that impacts credit
cards, credit lines, auto loans and the like. Mortgage rates most often will actually move in the oppo-
site direction as the Fed change, due to the dynamics within the financial markets. For more informa-
tion and explanation, just give us a call)
4) What is happening in the market today and what do you see in the near future? (If a
lender cannot explain how Mortgage Bonds and interest rates are moving at the present time, as well
as what is coming up in the near future, you are talking with someone who is still reading last week's
newspaper, and probably not a professional with whom to entrust your home mortgage financing.)
Be smart... Ask questions… Get answers!
More than likely, this is one of the largest and most important financial transactions you will ever make.
You might do this only four or five times in your entire life… but we do this every single day. It's your
home and your future. It's our profession and our passion. We're ready to work for your best interest.
Ray Ochoa
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
Shopping Around? (Part II)
HERE'S THE INSIDE SCOOP ON HOW TO DO IT RIGHT!
Once you are satisfied that you are working with a top-quality professional mortgage advisor, here are
the rules and secrets you must know to “shop” effectively.
IF IT SEEMS TO GOOD TO BE TRUE, IT PROBABLY IS. But you didn’t really need us to tell you that, did you? Mort-
gage money and interest rates all come from the same places, and if something sounds really unbelievable, bet-
ter ask a few more questions and find the hook. Is there a prepayment penalty? If the rate seems incredible, are
there extra fees? What is the length of the lock-in? If fees are discounted, is it built into a higher interest rate?
YOU GET WHAT YOU PAY FOR. If you are looking for the cheapest deal out there, understand that you are
placing a hugely important process into the hands of the lowest bidder. Best case, expect very little advice, ex-
perience and personal service. Worst case, expect that you may not close at all. All too often, you don’t know
until it’s too late that cheapest isn’t BEST. But if you want the cheapest quote – head on out to the Internet, and
we wish you good luck. Just remember that if you’ve heard any horror stories from family members, friends or co-
workers about missed closing dates, or big surprise changes at the last minute on interest rate or costs…these are
often due to working with discount or internet lenders who may have a serious lack of experience. Most impor-
tantly, remember that the cheapest rate on the wrong strategy can cost you thousands more in the long run. This
is the largest financial transaction most people will make in their lifetime. That being said – we are not the cheap-
est. Of course our rates and costs are very competitive, but we have also invested in the systems and team we
need to ensure the top quality experience that you deserve.
MAKE CORRECT COMPARISONS. When looking at estimates, don’t simply look at the bottom line. You abso-
lutely must compare lender fees to lender fees, as these are the only ones that the lender controls. And make
sure lender fees are not “hidden” down amongst the title or state fees. A lender is responsible for quoting other
fees involved with a mortgage loan, but since they are third party fees – they are often under-quoted up front by
a lender to make their bottom line appear lower, since they know that many consumers are not educated to NOT
simply look at the bottom line! APR? Easily manipulated as well, and worthless as a tool of comparison.
UNDERSTAND THAT INTEREST RATES AND CLOSING COSTS GO HAND IN HAND. This means that you can
have any interest rate that you want – but you may pay more in costs if the rate is lower than the norm. On the
other hand, you can pay discounted fees, reduced fees, or even no fees at all – but understand that this comes
at the expense of a higher interest rate. Either of these balances might be right for you, or perhaps somewhere in
between. It all depends on what your financial goals are. A professional lender will be able to offer the best ad-
vice and options in terms of the balance between interest rate and closing costs that correctly fits your personal
goals.
UNDERSTAND THAT INTEREST RATES CAN CHANGE DAILY, EVEN HOURLY. This means that if you are comparing
lender rates and fees – this is a moving target on an hourly basis. For example, if you have two lenders that you
just can’t decide between and want a quote from each – you must get this quote at the exact same time on the
exact same day with the exact same terms or it will not be an accurate comparison. You also must know the
length of the lock you are looking for, since longer rate locks typically have slightly higher rates.
Again, our advice to you is to be smart. Ask questions. Get answers.
As you can imagine, we wouldn’t be encouraging you to shop around if we weren’t pretty confident
that we feel that we can give you a great value and serve you the very best.
Ray Ochoa
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
What’s Your Rate???
Very Difficult Marginal What's Acceptable A+ Credit
your
FICO?
< 620 620+ 680 740
Purchase or Purchase or Purchase or Purchase or
Refinance Refinance Refinance Refinance
Property Type Property Type Property Type Property Type
SFR/MFH/CONDO SFR/MFH/CONDO SFR/MFH/CONDO SFR/MFH/CONDO
Occupancy Occupancy Occupancy Occupancy
Primary/2nd/NOO Primary/2nd/NOO Primary/2nd/NOO Primary/2nd/NOO
Down Pay- Down Pay- Down Pay- Down Pay-
ment or LTV ment or LTV ment or LTV ment or LTV
0% 3% 5% 10% 0% 3% 5% 10% 0% 3% 5% 10% 0% 3% 5% 10%
Income Type Income Type Income Type Income Type
W2/Commission/SE W2/Commission/SE W2/Commission/SE W2/Commission/SE
Debt/Income Debt/Income Debt/Income Debt/Income
Ratio Acceptable Ratio Acceptable Ratio Acceptable Ratio Acceptable
Quoting a RATE before getting answers to these questions is like a doctor prescribing medi-
cine without diagnosing the problem. You and your buyers should demand better answers
than just sales pitches. Expect a consultation and a total program analysis,
not just an internet rate or newspaper ad.
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
5 Factors of Credit Scoring
Inquiries
10%
Credit Type
10% Payment History
35%
Length of Credit
History
15%
Debt Ratio
(Amounts Owed)
30%
Payment History has a 35% impact. Paying debt on time and in full has a positive impact, and late payments, judgments
and charge-offs have a negative impact.
Outstanding Credit Balances have a 30% impact. Debt ratio of outstanding balance to available credit is important.
Keeping that below 50% is wise and below 30% even wiser. It is never a good idea to close an account; the debt ratio will
go up and the number of seasoned lines will decrease. Pay outstanding debt down as close to zero as possible and evenly
redistribute the remaining balance among the open lines. The increased interest incurred by moving a balance from a 0%
card to a 23% card will be minimal relative to what the increased mortgage debt might be with a low credit score. Hitting
the maximums of available credit can be very negative. It may be worth calling and asking the credit company to increase
your available credit to lower the debt ratio, provided they can do so without a hard credit inquiry.
Length of Credit History has a 15% impact. The length of time a particular credit line has been opened is important. A
seasoned borrower is stronger. Opening new credit cards will decrease the average length, and therefore hurt this portion
of the score.
Type of Credit has a 10% impact. A mix of auto loans, credit cards and mortgages is positive, rather than a concentration
in credit cards only. Careful, too, when getting credit at a store that is not a department store: the credit agencies frown
on cards for more specialized stores where you’re likely to only make one purchase, as they seem to show desperation.
Inquiries have a 10% impact. Hard inquiries for credit will negatively impact the score. Auto and mortgage inquiries
receive special treatment and 20 inquiries can be made in a 14-day period for auto or mortgage and will be treated as only
1 inquiry. The maximum number of inquiries that will reduce the score is 10. Any inquiries beyond that in a six -month
period will have no further impact on the borrower. Each hard inquiry can cost 2-50 points on a credit score.
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
How much can I qualify for?
This form with give you the beginnings of how much you should generally be able to
finance. HOWEVER, everyone's debt situation is different. Depending on the type
of debt and/or when that debt is scheduled to be paid off will change these num-
bers. Again, we recommend you sit down for a one-on-one for a true picture of
what you can afford and what program best meets your families needs.
Please list the following:
Monthly Income Debt
Borrower__________________ Auto__________________________
Co-Borrower_______________ Auto__________________________
Other______________________ Other_________________________
Other______________________ Other_________________________
Other______________________ Other_________________________
Other______________________ Other_________________________
Other_________________________
Other_________________________
Total Monthly Income _____________ Total Monthly Debt _______________
Take 43% of you’re monthly income, which is the generally accepted maximum you
should use to qualify for a home.
Income ____________ X .43 = $_____________. Now subtract your monthly debt from
this total.
43% ___________ - Monthly Debt ____________ = Max Housing Payment _____________
Next we will work backwards to determine the suggested maximum sales price.
Take your Max Housing Payment ___________ /(divide) by 7 = ______________________
Multiply new number by 1000 = Suggested Sales Price ________________
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
LOAN APPLICATION FORM This is not a loan commitment form
BORROWER INFORMATION Are you ___ Married ___ Single ___ Divorced
Full Name ______________________________ Social Security Number _____________________
Current Home Address ______________________________________ Date of Birth ____/____/____
City _________________________ State ________________ Zip ___________________________
How long have you lived at this address? ___________________ Do you ____ own or ____ rent?
Home Phone # __________________________ Work phone # _____________________________
Cell phone # ____________________________ Email ______________________________________
If you currently rent what is your monthly payment? ________________________________________
Employment Information
Current employer __________________________________ Are you self-employed? ___ yes ___ No
Employer address ________________________________________________________________________
City _________________________ State ________________ Zip ___________________________
Your title of job description _______________________________________ Years in line of work _____
How long have you worked for this employer? ______ years _______ months
Please describe your compensation ( hourly, salary, bonuses, commissions, etc.)
Hourly $_________________/ hour you work __________________ hours per week
Salary $ _________________/year Commission $_________________________ terms _____________
Bonuses $___________________________ terms _______________________________________________
Please list previous and/or secondary employment on the following forms
(we need two years total)
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
LOAN APPLICATION FORM This is not a loan commitment form
CO-BORROWER INFORMATION Are you ___ Married ___ Single ___ Divorced
Full Name ______________________________ Social Security Number _____________________
Current Home Address ______________________________________ Date of Birth ____/____/____
City _________________________ State ________________ Zip ___________________________
How long have you lived at this address? ___________________ Do you ____ own or ____ rent?
Home Phone # __________________________ Work phone # _____________________________
Cell phone # ____________________________ Email ______________________________________
If you currently rent what is your monthly payment? ________________________________________
CO-BORROWEREMPLOYEMENT INFORMATION (if applicable)
Current employer __________________________________ Are you self-employed? ___ yes ___ No
Employer address ________________________________________________________________________
City _________________________ State ________________ Zip ___________________________
Your title of job description _______________________________________ Years in line of work _____
How long have you worked for this employer? ______ years _______ months
Please describe your compensation ( hourly, salary, bonuses, commissions, etc.)
Hourly $_________________/ hour you work __________________ hours per week
Salary $ _________________/year Commission $_________________________ terms _____________
Bonuses $___________________________ terms _______________________________________________
Please list previous and/or secondary employment on the following forms
(we need two years total)
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
LOAN APPLICATION FORM This is not a loan commitment form
PREVIOUS OR SECONDARY EMPLOYEMENTS
BELONGS TO ____BORROWER _____CO-BORROWER(if applicable)
Employer _______________________________________ ____ Previous _____ Secondary
Employer address ________________________________________________________________________
City _________________________ State ________________ Zip ___________________________
Your title of job description _______________________________________ Years in line of work _____
How long have you worked for this employer? ______ years _______ months
Please describe your compensation ( hourly, salary, bonuses, commissions, etc.)
Hourly $_________________/ hour you work __________________ hours per week
Salary $ _________________/year Commission $_________________________ terms _____________
Bonuses $___________________________ terms _______________________________________________
BELONGS TO ____BORROWER _____CO-BORROWER(if applicable)
Employer _______________________________________ ____ Previous _____ Secondary
Employer address ________________________________________________________________________
City _________________________ State ________________ Zip ___________________________
Your title of job description _______________________________________ Years in line of work _____
How long have you worked for this employer? ______ years _______ months
Please describe your compensation ( hourly, salary, bonuses, commissions, etc.)
Hourly $_________________/ hour you work __________________ hours per week
Salary $ _________________/year Commission $_________________________ terms _____________
Bonuses $___________________________ terms _______________________________________________
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
LOAN APPLICATION FORM This is not a loan commitment form
LIQUID ASSETS
Checking Approx Balance $____________ Bank ______________________ ___Borrower ___ Co-Bo
Savings Approx Balance $____________ Bank ______________________ ___Borrower ___ Co-Bo
Retirement Accounts $____________ Bank ______________________ ___Borrower ___ Co-Bo
Other: Describe $____________ Bank ______________________ ___Borrower ___ Co-Bo
Other: Describe $____________ Bank ______________________ ___Borrower ___ Co-Bo
Other: Describe $____________ Bank ______________________ ___Borrower ___ Co-Bo
REAL ESTATE OWNED
If you own your own home, what is the approximate current value? $_______________________
What year did you buy the home? _____________ What was the purchase price $____________
Are the insurance and taxes escrowed as part of the payment ____ Yes ____ No
If you own a vacation or second home, what is the approximate value $____________________
What year did you buy the home? _____________ What was the purchase price $____________
Are the insurance and taxes escrowed as part of the payment ____ Yes ____ No
What is the address? _____________________________________________________________________
If you own an investment property, what is the approximate value $________________________
What year did you buy the home? _____________ What was the purchase price $____________
Are the insurance and taxes escrowed as part of the payment ____ Yes ____ No
What is the address? _____________________________________________________________________
**If you own other properties, please provide a detailed schedule of real estate owned.
I hereby authorize Academy Mortgage to verify my past and present employment earnings, bank ac-
counts, stock holdings, and any other asset balances needed to process my mortgage application. I
further authorize Academy Mortgage to order a tri-merged consumer credit report and verify other
credit information, including past and present mortgage and landlord references. It is understood that
a copy of this form will also serve as authorization. The information obtained is only used in the process-
ing of my application for a mortgage loan.
Borrower Name __________________________ Co-Borrower Name_____________________________
Signature_________________________________Signature ______________________________________
Date _____________________________________ Date _________________________________________
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
Mortgage Planning Questionnaire
We have developed this systems to evaluate your mortgage needs and assist you in determining the best mort-
gage for these needs based on qualifications, how long you expect to have the loan, initial expense, cash flow,
taxes and overall total cost of the mortgage.
We are dedicated to providing you with the information you need to make an informed decision. This advisory
service is much more than a competitive rate and points quote. Selecting the wrong mortgage program can cost
you thousands of dollars and no single loan program is appropriate for every person.
Financing and acquiring real estate should be thought of as an integral part of your overall personal financial
plan. To assist us in selecting the most appropriate and cost effective mortgage for your individual needs, please
complete the questions below:
1. How would you like us to stay in contact with you? (Check all that apply)
_____email _____Phone _____fax _____mail _____cell phone
2. Is this financing request for your ____primary residence _____second home ____investment
3. How soon are you thinking of ___buying or ____refinancing? ___immediately ___2-6 months ___>6 months
4. If your primary residence, what is the best estimate for how long you might live in this home?
____1-3 years ____3-5 years _____5-7 years ____7-10 years ___10 years +
5. How many years do you think you will have this loan?
____6-12 months ____ 1-3 years ____3-5 years ____7-10 years ____10 years+
6. Do you currently have any plans for major expenses in the next 12 months:
$_______________New Car $______________Home Improvements
$_______________College $______________Rental Properties
$_______________Health $______________Other:________________________
7. Please check the following if they are priorities as it relates to your mortgage financing.
_____ Determine maximum purchase price and/or loan I can qualify for
_____ Determine purchase price and loan amount appropriate for my income and lifestyle
_____ Obtain a targeted monthly mortgage payment amount $_______________
_____ Purchase a home within a specific budget, down payment and closing costs
_____ Have ability to sell, pay down, pay off, or refinance home without penalty
_____ Maximize tax benefits
_____ Avoid mortgage insurance
_____ Qualify for new home prior to, or without sale of existing home
_____ Other_________________________________________________________________________
8. Please check the following goals if they are a priority for you currently.
_____ Improve Monthly Cash Flow _____ Create a Comprehensive Financial Plan
_____ Maximize Education Savings _____ Create a 6-12 Month Cash Reserve Account
_____ Maximize Retirement Savings _____ Maximize Investment Contributions
_____ Live Comfortably on One Income _____ Maximize Asset Portfolio Performance
_____ Live Comfortably on a Fixed Income _____ Real Estate Investment Strategies
_____ Tax Reduction Strategies _____ Asset Protection Strategies
_____ Other________________________________________________________________________
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
9. If you currently rent, please provide us the name of your landlord and their contact information:
Name__________________________________________ Phone ________________________________
10. Would you like to establish an escrow account for taxes and/or insurance as part of your loan?
_____Yes _____ No, thanks (unless required)
11. If applicable, would you like information about repairing your credit? _____Yes _____ No
12. Have you spoken with other lenders? _____ Yes _____ No
If yes, which loan program do you like best so far? ___________________________________________
13. Do you have life insurance? ___ Yes ___ No If yes, how much? $_____________ ___Term ___Whole
14. Please rate your current level of satisfaction in the following areas, on a scale of 1-10 (10 being
best)
_____ Attorney—Legal Advice
_____ Estate Plan—Asset Protection
_____ Insurance—Life / Auto / Home
_____ Financial Advisor—Investment Strategy
_____ Income Tax Preparation and Reduction Strategies
15. If we can show you ways of building wealth faster or becoming debt free more quickly, would you
be interested? _____ Yes _____ No, thanks
16. Are you interested in buying real estate for investment purposes? _____ Yes _____ No, thanks
17. Have you attended any of our seminars listed on our website? _____ Yes _____ No, not yet
If yes, what did you like most about what your learned?
____________________________________________________________________________________________
18. What is the maximum monthly housing payment you would be comfortable with? $_______________
19. The Chart below illustrates the trade-off between fixed and adjustable interest rates. Please indi-
cate the best match based on your preference between a fixed and adjustable interest rate, by
placing an “X” in the appropriate box.
A B C
Increasing Risk / Lower Interest
Conservative Moderate—Predictable Aggressive
30 or 15 Year fixed rate 3 to 10 year ARM 1 month to 1 year ARM
Long term – No Volatility Intermediate Fixed Lowest Market Rate
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
20. Do you have any children? ____ Yes ____ No IF yes, how many? _______ Age (s) _________________
21. What are your biggest challenges right now with respect to money?
_____ Need to save more _____ Too much spending
_____ Need to make more money _____ Too much credit card debt
_____ I pay too much tax _____ Other ____________________________________________
22. What is your current strategy for:
(a) Affording college for your children? _____ 529 Plan _____ Other_______________________
(b) Having enough money to retire? _____ 401K _____ IRA _____ Other ____________________
(c Having the money to get through a financial setback ___ Savings ___ Other_______________
23. Please let us know who can we thank for referring you to us? ____________________________________
24. What did you like most or least about the last loan officer you worked with?
____________________________________________________________________________________________
25. What else would you like to know about me/my company before you would consider allowing us
to serve you?
______________________________________________________________________________________
26. If you and I were to meet after you closed your loan what has to have happened for you to feel
you have saved time and money, gained greater peace of mind, and achieved your overall
goals?
____________________________________________________________________________________________
27. Who else do you know that is thinking of buying or refinancing real estate?
Someone who wants/needs to refinance? _______________________________Phone _____________
Someone who wants to buy investment properties _______________________Phone _____________
Do you know anyone who is renting? ___________________________________Phone _____________
Anyone else who we may assist? ______________________________________Phone ______________
THESE NEXT QUESTIONS ONLY APPLY IF YOU ARE REFINANCING
28. If property taxes are due, do you wan to incorporate them into the loan amount or would you pre-
fer to pay them out-of-pocket? _____ in the loan _____ out-of-pocket
29. If there are closing costs, would you like to incorporate them into the loan amount or would you
prefer to pay them out-of-pocket? _____ in the loan _____ out-of-pocket
30. Do you want to receive any “cash out” as a result of this transaction (paying off credit cards, home
improvements, investments, assisting family, etc.)? If yes, how much $__________________________
31. Would you like to set up a home equity line of credit as part of this transaction? ___ Yes ___ No,
32. Do you currently have a 2nd mortgage or line of credit secured by your home? ____ Yes ___ No
If yes, do you wan this loan paid off as part of this transaction or do you wish to keep if possible
_____ Keep it _____ Pay off and close it _____ Set up new loan/line of credit
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
New Home Profile
We have created this profile to help you find just the right home. With this vital infor-
mation your Realtor will use their computer database to narrow your search, provide
a list of homes for sale that match your profile, and help you find the perfect home.
Preferred Location
_____ Valley _____ Foothills _____Central _____ North End
_____ Somerton _____ San Luis _____ Wellton _____ Out in the County
Price Range From $___________________ to $_____________________________
Age Preference ____ New Construction ___<10 years old ___<30 years old
Preferred Number of Bedrooms ___1 ___2 ___3 ___4 ___5 ___ more #____
Preferred Number of Bathrooms ___1 ___2 ___3 ___4 ___5 ___ more #____
Preferred Square Footage Between _________ and __________ square feet
Preferred Property Type ___ Single Family ___ Condo ___Townhome ___ Mobile
Preferred Interior Features
___ Basement ___ Finished Basement ___ Hardwood Floors ___ Tile Floors
___ Central Air ___ Fireplace ___ Laundry Room ___ Workshop
___ Den/Study ___ Formal Dining Room ___ Natural Gas Heat ___Ceiling Fans
___ Family Room ___ Great Room ___ Game Room ___
Preferred Garage ___ 1 or more ___ 2 or more ___3 or more
Preferred Exterior Features
___ Boat/Motor home storage ____Pool ____Spa ____ Desert Landscape ___Sprinklers
Preferred School District __________________________________________________________
Other Preferences? ______________________________________________________________
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
Mortgage Concierge Program
Fax Transmittal Form
To From
Ray Ochoa Name:
Senior Loan Officer
Phone:
Office: (928) 247-9089
Cell: (928) 246-5937
Fax: (928) 244-2357
Email:
____Urgent
____For Review Date Sent:
____Please Comment
Message:
The first step in the Mortgage Concierge Program is for you to review the attached Mortgage Plan-
ning Package. Please complete the confidential financial questions and overview and either fax it
to my office, drop it by my office, or scan and email it as soon as possible.
My team and I will then do a personal follow-up with you and schedule a convenient appoint-
ment with you for your mortgage needs analysis. This is the step in the process that is designed to
help you better understand the loan process and help us both determine which loan best meets
your financial goals and needs.
I am looking forward to the opportunity to discuss your loan options in greater detail. I appreciate
and value your business.
Sincerely,
Ray Ochoa
Ray Ochoa
Senior Loan Officer Ray Ochoa
CONFIDENTIALITY NOTE: The information contained in this facsimile message is being Senior Loan Officer
Direct (928) 246-5937
transmitted to and is intended only for the use of the individual named below. If the reader of
this is not the intended recipient, you are hereby advised that any dissemination, distribution
Fax (928) 244-2357
or copy of this facsimile is strictly prohibited. If you have received this facsimile in error, please
immediately notify the sender by telephone and destroy this facsimile message. Ray.Ochoa@Academy.cc
Direct (928) 246-5937 Ray Ochoa Ray.Ochoa@Academy.cc
