NMLS #2223095

NMLS #2223095 NMLS #2223095 NMLS #2223095


NMLS #2223095

NMLS #2223095 NMLS #2223095 NMLS #2223095
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loan officer monique Hogan

loan officer monique Hoganloan officer monique Hoganloan officer monique Hogan

We make real estate a breeze!

Book a Phone Consultation

loan officer monique Hogan

loan officer monique Hoganloan officer monique Hoganloan officer monique Hogan

We make real estate a breeze!

Book a Phone Consultation

About

 Legacy Lending Mortgage Group offers high-quality mortgage brokerage services to residential customers. Our aim is to provide our customers with fair mortgage rates at reasonable prices, while keeping our clients informed and educated throughout the process.  

Our Services

Conventional , USDA, FHA, Construction and VA Loans

Buying a home does not have to be a one-size fits all process.  We offer a variety of programs to meet your specific need and goals.

Conventional , USDA, FHA, Construction and VA Loans

Buying a home does not have to be a one-size fits all process.  We offer a variety of programs to meet your specific need and goals.

Rehab, Self-Employed, Hard Money Lending, and Construction Loans

About 90% of  the world's millionaires have been created by investing in real estate.  Here at Legacy Lending Mortgage we have partner with banks tailored to meet the needs of entrepreneurs and real estate investors.  

Refinances

Refinancing your home can be as scary as buying your first home. BUT, it does not have to be.  There are many benefits to refinancing your home.  We look at your current situation, your goals, and the current market to help you decide if refinancing is the option for you.

Frequently Asked Questions

Please email me at mhogan@nexamortgage.com  if you can not find an answer to your question.

 

Step 1: KNOW YOUR FICO MORTGAGE SCORE (NOT CREDIT KARMA, NOT EXPERIAN, EQUIFAX, TRANSUNION, CREDIT WISE, CREDITCHECKTOTAL, PRIVACY GUARD, IDENTITY IQ, SMARTCREDIT, ETC) 

You need to know all 3 of your Mortgage FICO Scores and need the middle score. That is done by two ways: You can either apply for a home loan and this will give your mortgage scores with a hard inquiry  (PLEASE SEE FAQ 4 FOR STEPS) OR you can get a credit analysis done by me.

Step 2: If your score is above 580, you may put in an application for a home loan to see if you can get preapproved (SEE FAQ 4). If your score is below 580, you need to work on your credit to bring it above 580 and should request a credit analysis (SEE FAQ 3) and once you have completed the steps and have above a 580 score, then you may apply for a home loan.  

Step 3: After you have applied and received a pre-approval letter, contact a Real Estate Agent, if you don’t already have one and start looking for homes.  

Step 4: Find a Home, Make an Offer, Get Offer Accepted, Go Under Contract, Start the Loan Process, Close!!!

We have banks that go as low as a minimum 580 middle FICO mortgage score, however 620 or better is the recommended minimum score for the most favorable terms. 

You can have a credit analysis completed by me. The analysis cost is $29.95 which is for your Fico score account to be setup. This includes setting up an account to access all 3 of your Credit Reports and all 28 of your FICO Scores, but most importantly your 3 MORTGAGE FICO SCORES (which are the scores used when applying for a home loan).  Click here to setup your Fico account, https://secure.myfico.com/signup?product=3BM_ADV_M_Q  . After you complete this step, EMAIL YOUR LOGIN INFORMATION THAT YOU SETUP TO monique.hogan@edgehomefinance.com  or send back to the person who directed you to the site for an analysis. 

 

THIS WILL BE A SOFT INQUIRY AND DOES NOT AFFECT YOUR CREDIT!!! Please make sure you cancel your account as soon as you set it up so that you are not charged! YOU WILL STILL HAVE ACCESS TO SCORES AND UPDATES FOR 30 DAYS!

***CREDIT ANALYSIS MAY TAKE UP TO 7 DAYS TO COMPLETE***

 

THIS WILL BE A HARD INQUIRY!!!

1. ID or Drivers License 

2. Most Recent 30 Days of Paystubs from ALL current jobs

3. Most Recent 2 Months Bank Statements That Shows Your Money You Will Use To Close

4. 2020 and 2019 Tax Returns 

5. 2020 and 2019 W2s and/or 1099s 

6. (OPTIONAL IF APPLICABLE) Most Recent 401K Statement

***IF YOU DO NOT HAVE THESE ITEMS AVAILABLE, PLEASE DO NOT PUT IN AN APPLICATION UNTIL YOU HAVE THEM AVAILABLE TO SUBMIT***

 You may apply for a loan using the link below 

https://prod.lendingpad.com/edge-home-finance-corporation/pos#/?loid=78b0b2b0-0d63-48d1-82cd-c7b239509c49

 

That can vary based on multiple factors but as a general rule of thumb: All loans have closing costs that are on average around 4% of the purchase price of your home (the price you agree to pay for it on the contract).  

For example, if you are buying a home for $200,000 you can expect to pay on average $8,000 for the Closing Costs (in addition to any down payment required). 

 

Conventional loans have a 5% down payment requirement.

FHA has a 3.5% down payment requirement.

VA and USDA loans require NO DOWN PAYMENT.

Down payments are in addition to closing costs.

 

Closing costs are the cost associated with purchasing a Home and consist of the following (AND ARE SUBJECT TO CHANGE BASED ON MANY DIFFERENT FACTORS SUCH AS): 

1. The cost of your interest rate (interest rates change daily so this number can change until locked). 

2. Closing Attorney Fees (You have to pay the Attorney for assisting with your Closing and you can choose any Attorney that you like). 

3. Property Tax and Insurance must be paid at the Closing for 1 full year.  

4. Other miscellaneous loan fees such as Credit Report, Application fees, Underwriting and Processing fees ETC    

We offer loans that rely on bank statements as income instead of the traditional method of tax returns. You will need 12-24 months of bank statements to prove monthly income received. 

Copyright © 2024 Loan Officer Monique Shonta - All Rights Reserved.

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