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Contacting 1st Regent Mortgage Funding
We are open five days a week,Monday through Friday 8:30 A.M. to
5:30 P.M. and by appointment on Saturdays. At any time in your
shopping process, 1st Regent Mortgage Funding's highly skilled
Loan Specialist will be happy to assist you in finding the program
that best suits your needs.
Our staff is trained to give you straightforward, honest answers.
Whether it’s a Good Faith Estimate
or a pre-approval, you never have to leave your home or office.
1st Regent Mortgage Funding will take your information over the
phone or fax and mail the necessary documents directly to you.
At our web site, you can check the status of your loan and communicate
with our staff through e-mail, submit a pre-approval, and even
apply for a mortgage 24 hours a day, seven days a week.
- Applying
There is no need to drive to an office and spend hours in traffic.
With 1st Regent Mortgage Funding, you can submit your loan application
by phone with a Loan Specialist. The process
takes about five to ten minutes! You can also apply online
with everything you need at your fingertips. You can complete
the forms in the comfort of your home and mail them to:
1st Regent Mortgage Funding
422 1/2 E. 87th St.
Chicago, IL 60619
or call us at (1-773-723-1250) and do it all by phone
with one of our knowledgeable Loan Specialist.
You can also review the document checklist to see what items we
may need to process your loan for final approval. By closing within
your designated lock-in period, 1st Regent Mortgage Funding guarantees
the terms (rate and points) of your loan will not change.
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Confirmation of Application
Once
you apply with 1st Regent Mortgage Funding, we can lock in your
interest rate or you can choose to "watch" the market
while we process your application. The choice is yours. There
are no surprises at closing.
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Processing
Once our processing department receives your application, a Loan
Specialist will pre-screen your file based on income and credit
worthiness. An Appraiser will be assigned to review the property.
You
will then be contacted by your Loan Specialist for any questions
relating to your loan.
You have access to your Loan Specialist via email or phone (1-773-723-1250)
or visiting them at our convenient location. Our door is always
open. Once 1st Regent Mortgage Funding receives your completed
application, the file will then be submitted to our underwriters.
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Underwriting
The decision to approve or deny a loan is based upon several factors:
employment history, credit, income, cash savings and property
appraisal.
At 1st Regent Mortgage Funding we offer programs that cover almost
any kind of credit history. The underwriting process typically
takes 2 to 3 days.
Your 1st Regent Mortgage Funding Loan Specialist will contact
you once an underwriting decision has been made.
- Closing
After your loan has been approved, 1st Regent Mortgage Funding
will prepare the closing documents. Closings can take place in
two business days after loan approval. 1st Regent Mortgage Funding
is here to help you navigate successfully through the mortgage
process. Negotiating the steps toward securing your loan requires
proper documentation and an open line of communication between
you and your 1st Regent Mortgage Funding loan consultant. Here
are some other things you need to know: Have a budget and down
payment in mind.
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