What kind of information do I need to provide Lexington Home Loans on my loan application?
What is Lexington Home Loans's decision process?
What is Lexington Home Loans's roll-down option?
What is Lexington Home Loans's streamlined online pre-approval process?
How do I sign my final loan documents?
If I am still not comfortable with the security of the Web site, is there another way I can apply for a loan?
What happens after I apply for a loan online?
What kind of security the Lexington Home Loans's web site have?
What if I want to talk to a loan agent?
What Kind Of Information Do I Need to Provide Lexington Home Loans on My Loan Application?
You will need to provide credit, income, asset, and liability information, including our income, residence, and personal identification. Save time and expedite your application by collecting it before you begin the process.Here’s the information you’ll need to have handy:
- Employment and salary history for the past two years
- Addresses of your residences for the past two years, as well as landlords (if applicable)
- Your social security number and that of your co-borrower(s)
- Your current income- this included your base salary, any commissions or bonuses, dividends, etc. (income from alimony, child support or separate maintenance payment need not be revealed if you don’t want it to be considered as a basis for repaying the obligation)
- Numbers and locations of your bank accounts
Bank/investment account numbers, balances, and names of the institutions holding them. As we continue with you loan process after your online pre--approval, you will need to supply us with pay stubs from your employer covering the last 30 days prior to completing your loan application.
If you are self-employed or compensated by commissions, you will need to supply your federal tax returns for the most recent year you filed and the year preceding that one (two years total).
What Is Lexington Home Loans’s Decision Process?
After you complete your application, Lexington Home Loans will review your information in order to assess the risk involved with your particular loan and situation. Lexington Home Loans also prepares the necessary documentation to process the loan and satisfy government regulations.
If you are pre-approved, you will be presented with a short list of documents you will need to provide to allow us to process your loan. These items will primarily include verification of your income and perhaps a request for W-2’s, income tax returns,, or similar information.
Immediately after your online pre-approval, you will be mailed a loan application for review. It will contain all of the information that you’ve entered during your online session. Please review it carefully and make any corrections or changes that you feel are necessary. Lexington Home Loans will contact you with specific requests for any additional information that you may need to provide. Lexington Home Loans may also need to discuss your credit history with you.
Lexington Home Loans’s roll-down option allows you to refinance with few upfront fees.* While the rate is slightly higher, you will pay no fees to get your new loan In effect, as long as our roll-down rate is lower than your existing rate, it makes financial sense to refinance because there is no cost to do it.
*A “roll-down” loan is one in which the lender pays a non-recurring closing costs for the borrower. The borrower is still responsible for paying all prepaid interest, property taxes, and hazard insurance, as all other recurring items. Minimum loan amount for the roll-down is $150,000. Closing costs assume that the borrower will escrow monthly property tax and insurance payments.
What Is Lexington Home Loans’s Streamlined Online Pre-Approval Process?
Lexington Home Loans’s streamlined, centralized, and high-tech business method completes most of work for your pre-approval by the time you get your online pre-approval. The bottom line is that you simply will not have to wait long in suspense. You will already be conditionally approved.
For a purchase, you will be using an attorney, escrow company, or title insurance company, depending on the state in which you live. In some states, for a refinance or second mortgage, Lexington Home Loans will send a document signer to your home or another place that you designate so you can sign all your loan documents.
If I Am Still Not Comfortable with the Security of the Website, Is There Another Way I Can Apply for a Loan?
You can talk to a loan agent at any time by calling 1.888.548.0553
What Happens After I Apply for a Loan Online?
A Lexington Home Loans loan agent will confirm the information on your application and will contact you. He or she will then turn the application over to a loan processor who will monitor the progress of your application until closing or will notify you in writing that your loan has been declined.
What Kind of Security Does the Lexington Home Loans Website Have?
Lexington Home Loans is certified as a Secure-Site.
Protecting your personal information is very important to Lexington Home Loans. We know that it is essential to keep our communication with you private. That is why we have obtained a Secure Server ID from a trusted third party.
Secure Server IDs are also known as digital certificates. They bind an identity, in this case Lexington Home Loans, to a pair of electronic keys that can be used to encrypt and sign digital information. Our unique Secure Server ID ensures our authenticity to you while assuring that you are working with Lexington Home Loans and not any other entity. It also allows our communication with to be encrypted so that no third parties can access it. It guarantees that only Lexington Home Loans will be able to see the personal information you exchange with our site.
The Secure Server IDs are based on the strongest encryption technology available.
You can talk to a loan agent at any time by calling 1.888.548.0553
Lexington Home Loans
8001 Irvine Center Drive
Irvine, CA 92618
Attn: Loan Department Customer Care
Here are two links to organizations that provide loan education to consumers. Both are non-profit and offer confidential credit counseling to those in need. Neither is affiliated in any way with Lexington Home Loans.
Credit Counseling Center of America
National Foundation for Credit Counseling
You can find additional counseling agencies approved by the U.S. Department of Housing and Urban Development by the following link.
HUD Housing Counseling Clearinghouse
Are you interested in finding out what factors affect your credit score? This will provide a comprehensive explanation of credit scores and how they are used by lenders in the loan decision process.