Using the Site & Application
Process
What kind of computer and browser do I need for this website?
Any computer will work as long it can run
either Netscape Navigator 3.0 or better or Internet Explorer
3.0 or better.
Is my modem fast enough to apply on line with this
website?
Almost any modem will work but the faster the
modem the better. We recommend a 28.8K modem or faster.
How long will it take me to fill out the
application?
It can take anywhere from 5 minutes to 30
minutes depending on how prepared you are to answer the loan
application questions and depending on the speed of your
computer and modem.
What is the difference between being pre-approved or
pre-qualified for a loan?
A loan officer will
interview and assess your unique situation. You will be
"pre-qualified" based upon that assessment for a certain loan
amount. A loan officer cannot make the final approval, so your
"pre-qual" is not considered an official approval. Think of
being "pre-approved" as the next step from being
"pre-qualified."
What information from my files will I need to fill out
the application?
You will need to enter your social security number, age,
total years at school from first grade through graduate school,
gross monthly income, most recent 2 years employment history,
most recent 2 years residence history, and total assets including
all properties owned. The same information will be required
for each applicant.
Don't I need to sign something? How do I do that on
line?
You will need to sign the initial mortgage loan
application and disclosures that we will mail to you after we
have received your online mortgage loan application.
Currently, we can not accept of any kind of electronic
signature.
Does IMS help me handle the final paperwork with the
lender?
Yes, IMS will dedicate a single Loan Consultant to
help coordinate the closing of your loan.
Do I need to give IMS my credit card number?
No, there is no application fee with IMS. The only fee
that we will take is when you want to order the appraisal
of your property and proceed with your mortgage loan. Even
then, you are free to pay either by cash, check, or credit
card.
How can I be sure that my credit card number and personal
financial data will be kept private?
As a law abiding mortgage broker, IMS is committed
to keeping your credit card number and personal financial
information private. Click here to read our Privacy
Policy.
Can I make changes to my application after submitting it
to IMS?
Yes, you will be able to make changes but not
through the website. If you need to change any information on
your loan application, please contact your dedicated Loan Consultant at (888) 835-3900.
About My Situation / My Loan
Can I save money by refinancing now? How much can I
save?
Feel free to use our Mortgage Calculators to
help you determine if now is the time to refinance.
Or, if you prefer, call (888) 835-3900 to speak with
one of our Loan Consultants.
I haven't found a house yet. Can I still apply for a loan?
The purpose of the pre-approval is specifically
for this scenario. You should pre-approve for a loan
amount that fits within the property price ranges that
you are interested in and list the property address
as To Be Determined. Click here to get started
I don't have much for a down payment. Can I still get
a loan?
IMS offers 3% down payment plans and 100% (zero
down payment) financing options. Most of the time, we can find
an attractive loan that fits into your specific needs, even if
you don't have much for a down payment.
How much of a down payment do I need?
You may
not need any down payment for our 100% financing (zero down
payment) programs, as little as 3% down payment, or you can
pay any amount that you would like to lower your payments. The
next major change to your payments can occur when you put 20%
down. Talk to one of our Loan Consultants, (888) 835-3900, to find
out which program best suits your needs.
I have a poor credit history or a bankruptcy. Can I
still get a loan?
Depending on how recently your
bankruptcy has been discharged or the circumstances
surrounding your damaged credit, IMS probably has a program to
get you a mortgage loan. Speak with one of our experienced
Loan Consultants, (888) 835-3900, to see if we have an option for
you.
How do I pick the best type of home loan for my
situation?
There are a number of factors to think
about when deciding which home loan is the right one for you.
Think about how long you plan on being in the home and how
much you can afford on a monthly payment basis. Contact one of
Loan Consultants, (888) 835-3900, to help you find out what loan
products are available and to help you match the right loan
with your specific needs.
How large of a loan can I qualify for? Can I afford that
much?
Feel free to use our Mortgage
Calculators to help you determine how much house you can
afford. Or, if you prefer, call (888) 835-3900 to speak with one
of our Loan Consultants.
What will my payment be?
A: Feel free to use our Mortgage
Calculators to help you determine what your monthly
mortgage payments will be. Or, if you prefer, call (888)
835-3900 to speak with one of our Loan Consultants.
Are there any pre-payment penalties on my loan?
At IMS, all types of loan programs are available,
including those mortgages with pre-payment penalties. In some
cases, a pre-payment penalty option might be to your benefit.
Talk to one of Loan Consultants to find a loan that works for your
situation, (888) 835-3900.
Can I arrange for automatic payment of my loan from my
checking account or is it better to send checks?
Most
lenders offer an automatic payment option. In most cases, it
is best to wait for your first billing statement or payment
booklet, make your first payment, and then contact the lender
to set up your automatic payment.
Why was I declined?
There are a number of
factors involved in determining why your loan was declined.
These factors range from poor credit to lack of sufficient
income to not enough funds for the down payment and closing
costs. Consult your Loan agent, (888) 835-3900, to go over the
particulars of your declination.
How can I get approved after being declined?
Contact your Loan agent, (888) 835-3900, to determine
how you can be approved with your specific situation. The
solution may be as fast as choosing a different loan product
or it may be as slow as waiting to rebuild your credit or
increase your income and savings.
House Shopping
Should I buy or continue to rent?
Feel free to use our Mortgage Calculators to
help you determine what your monthly mortgage payments
will be. Or, if you prefer, call (888) 835-3900 to speak
with one of our Loan Consultants.
Do I need a realtor?
Most of the time it is in
your best interest to retain the services of your own real
estate agent when looking to purchase a home. Your agent
should represent your best interest when negotiating with the
seller and his/her real estate agent.
How do I get an appraisal? When should I do this? Can
you help?
Once you commit to IMS for your mortgage needs, your dedicated
Loan Consultant will order and coordinate the appraisal. Once
IMS receives the original appraisal, your Loan Consultant
will make sure that you get a copy of it in the mail, or will
have a copy sent to your closing agent with the final loan
documents at the time of closing.
What if I have an approval, but can't find a house? How
long is my approval good for?
Your loan approval is
generally good for 90 days from the day the approval was
issued. If you can not find a property within that period of
time, simply submit new copies of your supporting
documentation, such as updated pay stubs and bank statements.
We may also have to run a new credit check. If there are no
major changes to your credit and monetary situation, we will
renew your approval for another 90 days.
Working With IMS
Is working with IMS better than working with another
broker or a lender? Why?
Finding a loan that perfectly
suits your requirements, whether you have bad credit or no
down payment, is what we specialize in. Innovation is not just
part of our name, it is the central theme of our process.
Since we have lots of experience finding solutions to
difficult mortgage situations, we can move more standard
mortgage loans through the system faster than the majority of
our less experienced competition.
I've been turned down by other lenders. How can IMS help
me?
At IMS we pride ourselves on finding creative
solutions for your unique situation. We don't just look at
your credit score. A bad credit report can be misleading. Your
report takes into account your finances over the past 7-10
years but it doesn't tell us much about your current financial
situation. At IMS we're not tied to your credit report. We
take it into consideration, but just as important to us is how
you are managing your money now.
Can I get information from IMS over the phone too? Who
should I speak with?
The answer is YES! Our phone
lines are open to you and we have Loan Consultants eagerly waiting
to answer your questions by calling (888) 835-3900. Our normal
hours of operation are 9:00 AM - 8:00 PM Monday - Friday.
Can I call IMS with general questions? Who do I speak
to?
The answer is YES! Our phone lines are open to you
and we have Loan Consultants eagerly waiting to answer your
questions by calling (888) 835-3900. Our normal hours of
operation are 9:00 AM - 8:00 PM Monday - Friday.
Can I call a specific Loan Consultant with questions about my
application?
Yes you can, we have Loan Consultants eagerly
waiting to answer your questions at (888) 835-3900. Our normal
hours of operation are 9:00 AM - 8:00 PM Monday - Friday.
Will one specific Loan Consultant oversee my loan application
process?
Yes, we will assign one dedicated Loan Consultant
to see that your loan moves through the process smoothly and
that it funds on time.
Is IMS a secure site? What does that mean?
IMS is a secure site. Click here to learn more on this subject
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