Apply for a Mortgage Online
Working with OC Lending provides you the ability to submit your offer for your new home with utmost of confidence and the ability to close stress-free!
- Some of the most competitive pricing in the market allows you to maximize how much home you can qualify for!
- First-time homebuyer? No worries, we’ll walk you through the whole process and be there to answer all your questions with our 100% US dedicated team to support you.
- Close in as few as 15 business days while typical contracts are 30 days.
- We work with any real estate agent or realtor to close your deal on-time and as promised.
- No real estate agent or realtor? No problem! We have a network of some of the best agents to help you find the home of your dreams.
Appear “Same-as-Cash” offer when buying a home.
- We will fully review and underwrite your mortgage loan package upfront so you and the seller know that they can count on your loan closing.
- The only thing pending is an acceptable property and value.
- Better than an all-cash offer since we still do the due diligence to make sure the home is inspected for damages and the purchase price is warranted so you don’t overpay.
- How does it work?
- We just need the documents you would normally send later in the process upfront rather than later, nothing extra.
- This allows you to know exactly how much and what you qualify for, no surprises.
- How long does it take to underwrite a typical mortgage?
- Usually within 24 hours. (If the turn-times are extended, we’ll let you know and keep you updated throughout the process)
- How much does this extra service cost and is the pricing not as good?
- $0! Same exact pricing. It’s what we do.
Conventional
Usually, the ability to qualify for a conventional mortgage or home loan requires a credit score of 620 or higher. For those with credit scores above 740 and up may be able to make a lower down payment and they could also be able to get an attractive conventional loan rate.
The debt-to-income (DTI) that lenders usually require is a ratio of 36% or lower. But there are some situations where we can work with you even if you have a higher DTI. Ask your mortgage banker to review your specific home loan purchase situation.
FHA
When you hear FHA, that is short for Federal Housing Administration. It is a part of the United States Department of Housing and Urban Development. OC Lending Group is an FHA approved lender. The FHA loans are specifically available for those who have credit scores of 580+. Also with FHA loans, you can also do a low-down payment as little as 3.5%. These are very appealing to those who are purchasing their first home and who do not have 20% to put down at this time.
Who may be interested in FHA loans?
- Those looking for low down payments
- Less than perfect credit
- People buying their first home
- Those wanting to lock in a fixed rate
- May have previously had an FHA loan.
VA Loans
VA Loans were created for qualified veterans, service members and their spouses to obtain a home with no down payment. VA helps Service members, Veterans, and eligible surviving spouses become homeowners. They provide a home loan guarantee benefit to help veterans buy, build, repair, retain, or adapt a home that is their home!
What You’ll Need to Qualify for A VA Loan
- Eligibility certificate that is provided by the VA that ensures you meet their requirements for type and length of service
- But don’t worry if you do not have one now, Network Capital can apply for the Certificate of Eligibility for you
- Required minimum credit score is 580
- Have a debt-to-income ratio (DTI) of lower than 60%. You can calculate your DTI simply by taking your monthly debt payments (car payment and credit cards) and then divide the total of your pretax monthly income.
- There is a funding fee charged by the VA to do a VA loan. You’ll need funds to cover this. And it can be added into your new mortgage loan if you’d like. You may not have to pay this fee if one of these criteria applies to you:
- A service-connected disability.
- Receive VA disability or you may have in the past.
- Surviving qualified spouse
