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Builder Mortgage Process

Learn about how Builders can benefit from the On Q Financial Mortgage Process.

Why Our Mortgage Process is Specialized for Builders

At On Q Financial, we understand what builders need and know that your needs are unique. We see ourselves as an extension of your business. It is no surprise after all we designed our process with a builder in mind. In states all across the country, we have teams that specialize in builder products who can help you close the deal.

Our ratings speak for themselves, and our dedicated builder services have acquired our outstanding reputation. Donna Timmerman our VP of builder services and Caroline Goyke our Builder Specialist have a history of success. Decades of experience have given them the know how to support your business and their record of accomplishment is evidence. Feel free to contact them with any questions or to ask for references, they are always happy to help.

Our Process Begins with a Client Centered Approach

A positive customer experience is our number one priority. To improve the mortgage experience we made Mortgages Simplified. We offer More Ways to Say Yes, because we understand our clients are unique. They aren’t an image or a profile, they are real people and they deserve to be treated like that. Our dream is to make homeownership a reality for everyone.

After The Initial Contract Signing

Once you have your good faith money and have signed the contracts it’s time to get your client pre-approved. No matter what, they are going to need expert advice on funding. A Mortgage Consultant needs to know the specific intricacies of a builder’s contract. They will also need to understand the individual products that are available for your client.

This is On Q Financial’s area of expertise. Our Mortgage Consultant’s understand that many contracts are distinct. By adding features and addendums to the home it may be months before clients finalize the cost of their loans. That’s why we assign Mortgage Consultants who have experience with Builders.

Your client is also going to want a way to begin immediately feeling confident about their decision. With our Simplicity App, On Q Financial is able to provide outstanding service from your initial meeting.

Your Client Can Get Approved with Ease through Simplicity

Using our mobile loan application is simple. With one click, you can download Simplicity to your phone and obtain pre-approval quickly. By the end of your initial contract signing you could have your client pre-approved. With this app, we not only boast up-front pre-approvals, but also e-verification, e-disclosures, and instant updates. The mortgage application process has become easier than ever, and On Q Financial is only making it easier by introducing automation into our process. Once your client is pre-approved, they will need to decide what product works best for them.

We Make Sure To Qualify Candidates at the Right Price

Using their credit profile, employment history, and assets our Mortgage Consultant will calculate how much of a budget they can afford, and begin discussing the best mortgage option for your client.

We Have A Range of Loan Options

Following your client’s pre-approval, On Q Financial will begin assessing your client’s individual situation. This means beginning the streamlined approval process as well as collecting all the necessary documentation in order to verify assets, income, debt, and credit history. An On Q Mortgage Consultant will consult with your client and look at different loan programs that will work for them. We know that every situation is different, but we will work our hardest to find a program that fits.

The Loan is Prepared Completely Upfront

Part of the On Q difference is the fact that we fully underwrite the loan up front. We don’t want any surprises further into the process. Within 30 Days we’ll issue a conditional approval.

The conditional approval will usually only require sign off from an appraiser and certificate of occupancy. That means less stress for your client. Then we’ll set up regular updates and encouragement throughout the process, that means less stress for the builder.

Borrower Education is Our Priority

Our mission is to educate the borrower. From the beginning, your On Q Mortgage Consultant will provide outstanding counsel and guidance. We believe that people are empowered by information, and purchasing a home is a huge decision.

We offer educational resources to help inform our borrowers. In addition, we offer updated information on our blog. We’re always going to be a resource here waiting for you, so what are you waiting for? Contact our On Q Mortgage Consultant today!

A Team That You Trust Will Close the Loan

We are proactive from the first moment that we get a loan application. We move fast, and we take pride in being the best. We seek team members who support these ideals, and that is exactly the kind of team that you can expect to be working with.

Our dedicated builder services department is comprised of experts who understand the requirements of a construction loan. Every one of them boasts decades of experience in the industry and is happy to pick up the phone and talk any day.

Our Lock Desk Policy is Great for Builders

We understand that sometimes business is done outside of the typical nine to five. That is why we have an after-hours lock policy. We have the ability to lock immediately at the time of the loan application. We also offer the ability to lock later on in the process if the client is willing to take a gamble on the market. For the more conservative customer, we also offer “float down” options.

Builders Need a Dedicated Disclosures Team

With a diligent team, you know that you are going to get results.  Even before we first meet, we begin to vet your business. Someone will be committed to making sure not only that your clients have an amazing experience, but so do your business partners.

Our dedicated disclosures team will keep your loan on track and promptly send out electronic disclosures. An internal project review department means greater accountability, and a specialized builder services team means you will get the expertise you deserve. Everything from processing to underwriting is handled in house by mortgage experts, and every step of the way our team creates a transparent experience. It’s no surprise that our teams are dedicated to supporting builders in every way. We are an extension of your business.

Appraisal will happen 60 days before construction completes

Your Mortgage Consultant will keep the client informed about the status of your home and as it nears completion, the appraisal is ordered. The Appraiser will investigate the property and offer a final inspection.

You Build We Close

A Mortgage Consultant will coordinate with the title company to arrange for a transfer of all documentation.

As the closing date approaches, we will keep the borrower informed. They will need to know what identification to bring to and how to pay for closing costs. If they need to bring additional documentation, such as private mortgage insurance, or an appraisal acknowledgement we will make sure they are fully prepared.

With our builder accelerated closing we strive to provide timely loan commitments for pre-sale homes and smooth closings for inventory homes. We are simply motivated to close and close fast.

Builders Need a Lender They Can Count On

With every day, we strive to live by our companies core values. We move fast, we support our team member’s growth, and we take pride in being the best. We can offer your company a product range and technology that makes the client experience even better.

Our process proves exactly why our client’s love us. We put them first by offering personal touchpoints along their journey and best in class mortgage advice. Then our team works diligently to close the loan, so talk with our builder team today!