How It Works


HomeUnion Lending is a full service mortgage brokerage that provides you with the highest level of customer service and a seamless real estate purchasing process.

While there are many different types of loans, it is important to choose the right type of loan for your investment properties. HomeUnion Lending provides the options you need to achieve your financial goals by investing in real estate and the experience to guide you through the process.

At HomeUnion Lending our goal is to make the entire lending process seamless and easy. Here are the five steps most loans typically follow:

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Gather Documents

Start by gathering all the necessary paperwork to get the lending process started. We require the following documents:

  • Copy of your driver’s license and social security card
  • Federal tax returns from the last 2 years
  • 2 months of bank statements and paystubs (preferably with year to date amounts)
  • Consumer credit report pull authorization
  • Other financial account statements
  • Rental agreements for any properties that you own
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Loan Structure

Once we’ve received the documentation we can determine the best type of structure for your loan. We work with a wide variety of investors ranging from those that are purchasing their first investment property to investors that are purchasing a portfolio of multiple investment properties.

Our talented team of lending specialists will structure a loan that is specifically designed to help you achieve your financial goals through investing in single family rentals. We’ll advise you on types of loans, loan amount, and which options are best for your specific investing needs.

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Pre-Approval

We are dedicated to providing the highest level of customer service and the pre-approval process allows us to work with you to make sure everything is in order. During the pre-approval phase we’ll make sure that we have all the necessary paperwork from you to ensure that your loan can move forward once the appraisal has been received.

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Escrow

Escrow is the last phase before owning your investment property. This is the period of time after the offer has been accepted and paperwork has been exchanged, in which the funds will be held in an account by a neutral third party.

We’ll make sure that the escrow process goes smoothly and can be used to handle the home inspections and appraisal. During this phase the interest rate will get locked in and we’ll send over the credit package and the appraisal report, which the underwriter will use for loan approval. The loan approval typically takes a day or two and then we’ll send over the loan documents for you to sign.

Most escrow periods last about 30 days but it is possible for them to be shorter or longer depending on your needs or the needs of the seller. Let us know if you have specific time constraints and we’ll find a solution that works best for you.

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Funding

Once your loan documents have been signed, your loan will fund in the next 48-72 hours and be recorded at the County Recorder’s Office. This is the last step of the process and you now own your investment property.