Steps
1 - Complete Application
2 - Check Credit
3 - Submit Documents
It is FREE to obtain your credit scores only.
A full credit report is necessary once you are under contract to purchase a home.
Call (813) 303-LOAN to obtain your credit scores, or
Click Here to Obtain Your Full Credit Report
DOCUMENTS NEEDED
1. Income Tax Statements (Most Recent 2 Years of W2 or 1099)
2. Pay Stubs (Most Recent 30 Days)
3. Bank Statements (Most Recent 2 Months)
4. Identification Card (Driver’s License or Passport)
* Upload securely at https://elegantloans.com/upload
Fax to (877) 424-8822
Or, bring to office at 5811 Memorial Hwy #201, Tampa, FL 33615
Need assistance to Print, Scan, and Upload your documents?
Visit Scott & Roxanne at The UPS Store, 8635 W Hillsborough Ave.
Se habla español. Save receipts - reimbursed at closing.
Some factors to consider:
- Taxes
- Insurance
- Schools
- Crime
Your monthly payment consists of:
Principal + Interest + Mortgage Insurance + Taxes + Insurance
* If your down payment is 20% or more (i.e., Loan-to-Value is 80% or more), then you do not need to pay monthly taxes and insurance towards an escrow account.
The lender will consider only the most recent tax bill.
However, your taxes will be recalculated in the new tax year.
To estimate your future taxes:
Hillsborough: *Click Here*
Pinellas: *Click Here*
Contact us if you want to shop your insurance. We have a list of insurance providers.
To lookup flood zone:
Hillsborough: *Click Here*
Pinellas: *Click Here*
School Zone Lookup:
Hillsborough: *Click Here*
Pinellas: *Click Here*
National Center for Education Statistics:
*Click Here*
School Grades (Florida Dept of Education):
*Click Here*
Lookup Crime in Neighborhood:
Hillsborough: *Click Here*
Pinellas: *Click Here*
Sexual Predator Neighborhood Search:
*Click Here*
The Loan Estimate explains:
- Estimated Closing Costs and the amount of cash you’ll need to have on hand at the time of settlement.
- Your projected monthly mortgage payment (including taxes, insurance, and mortgage insurance)
- Information on services you can, and cannot, shop for — such as termite inspections, survey fees, and the appraisal.
We will make your file as complete and clean as possible submitting everything to the underwriter for review.
You will need to decide on which insurance company to use. Contact us if you want to shop your insurance. We have a list of insurance providers.
Once you inform us of the insurance company that you selected, then we will contact them and obtain the "insurance binder".
Once the appraisal has been done, the full amount will be charged.
At closing there will be a credit shown on your closing statement (i.e., "paid outside of closing")
Mortgage interest rates change daily, sometimes multiple times in a day. If your rate is not locked, it can change at any time (this is called "floating").
There can be negatives to locking a rate. A rate lock would lock you out of a lower interest rate if rates fall. It may be expensive to extend the rate lock if closing is delayed for unforeseen circumstances.
Federal law requires for you to sign the Closing Disclosure (CD) at least three business days prior to closing.
The Closing Disclosure provides the same information as the Loan Estimate, but is finalized. Compare the CD to the Loan Estimate received in the beginning.
The lender will now proceed to send the "package" of documents to the title company for you to sign. If the closing has not already been scheduled, we will reach out to you to know the most convenient time to schedule your closing.
If you will live in the home as your primary residence, then it is very important to register for Homestead Exemption after closing in order to lower your tax bill!
To register for Homestead Exemption:
Hillsborough: *Click Here*
Pinellas: *Click Here*