Mortgage Broker in Mecklenburg County, North Carolina.
Mecklenburg County, North Carolina’s #1 solution for mortgage loans. Our mortgage brokers in the Carolina’s are working hard to get you qualified and approved for your dream home!
Mecklenburg County, NC Mortgage Broker Makes It Easy To Get Approved For a Mortgage Loan.
Edgewater Residential Capital is connected to a nationwide mortgage lender network, offering prospective buyers access to conventional, FHA, VA, and USDA loan programs. We also connect buyers with down payment assistance programs and provide guidance on first-time home purchasing and loan refinancing.
It is finally time to own your own home in the Carolina’s beautiful scenic beaches and mountains and safe neighborhoods. Our loan programs for first time homebuyers in NC & SC make it easy to afford your down payment and move into a new home now.
Getting approved for a mortgage loan in Mecklenburg County, NC isn't difficult!
ERC’s mortgage team is committed to providing families with the highest quality financial services, combined with the lowest rates and fees available. Whether you are purchasing a North Carolina or South Carolina dream home, refinancing an outstanding loan, or consolidating debt, our highly experienced ERC mortgage team can help you find the right loan program at the lowest rate, no matter what your home financing needs in North Carolina or South Carolina may be.
First, you'll need to have a good credit score. The higher your credit score, the better interest rate you'll be offered. You'll also need to have a down payment of at least 3-5% of the loan amount. And finally, you'll need to have a steady income and employment history.
Once you've connected with ERC, you'll need to fill out an application. Be sure to have all of your financial information handy, including:
- Your W-2 forms
- Pay stubs
- Tax returns
Once you're approved for your mortgage loan, you'll need to sign the paperwork and agree to the terms.
Edgewater Residential Capital can help borrowers with bad credit purchase a home.
ERC is required by law to check your credit score when determining whether to approve your loan application. Banks and other lenders use your credit score to set the interest rate for a loan, so the lower your score, the more you'll likely pay.
The best mortgage rates in Mecklenburg County, North Carolina are reserved for the borrowers who present the lowest risk.
Lenders consider other factors, as well, including loan-to-value (LTV) and debt-to-income(DTI) ratios, but credit scores are especially important.
Is it hard to qualify for a mortgage loan with bad credit in Mecklenburg County, NC?
Unlike the big banks, we understand your options then find the best mortgage lender to suit those needs.
Edgewater Residential Capital can help you accomplish your home loan goals with:
- Low cost financing
- Low interest rate products
- Focus around customer service
- ULTRA fast home loan turn around times
ERC offers a variety of home loan products and programs.
Being approved for a mortgage loan with ERC will depend more on how the lender assesses your risk than your credit score alone. Your eligibility will be determined by credit score, income, and other factors.
ERC will determine your qualifications for a home loan.
There are three main points you should consider when it comes to qualifying for a mortgage, ERC refer to this as the 3 C's. Credit, Collateral and Capacity.
Your credit score is an indicator of your likelihood to make things work, even when money is tight, so the higher the better. If you believe you have a score in the upper 600 range, you are looking good.
Collateral has to do with your down payment. Around North and South Carolina there are two major options, one is with Fannie Mae/Freddie Mac and called "Conventional Financing" while the other is called "FHA Financing".
Conventional requires a minimum of 3% if you have moderate to low income (under 100k/yr) or 5% down for those over the income limits.
FHA only requires 3.5% for their down payment and does not have income limitations. For people with low down payments, FHA is by far the most common method of purchasing a home.
Does Edgewater Residential Capital offer large or "jumbo" mortgage loans?
ERC Jumbo loans start at anything above $726,525. The thing to note about loan limits is they have to do with the amount you are borrowing, not buying. For example; you are purchasing a home for $825,000 but have a $100,000 down payment. This would put your loan amount into the conforming limit because you are only borrowing $725,000.
Safety and Resources for Dealing with ERC Brokers in Mecklenburg County, North Carolina.
Is ERC, in Mecklenburg County, North Carolina known for being ethical?
ERC brokers are subject to state supervision, which ensures that borrowers are not subjected to excessive interest rates or predatory mortgage lending tactics.
In Mecklenburg County, NC, first-time homebuyers may receive public assistance with making their down payment. The Federal Housing Administration (FHA) governs the standards of all home loans and current mortgage rates in Mecklenburg County, North Carolina. However, many lenders obtain licensing to grant mortgages through the Nationwide Multistate Licensing System and Registry (NMLS).
Why use a local mortgage broker in Mecklenburg County, NC vs an out of state mortgage loan officer?
Using a local mortgage broker in Mecklenburg County, NC can have several benefits for local residents. One key advantage is that a local broker will have a deep understanding of the housing market and the specific mortgage products and options that are available in the area. This can be especially helpful for first-time homebuyers or those who are unfamiliar with the local market.
Another benefit of working with a local mortgage broker is that they can provide personalized and convenient service. They will be able to meet with you in person to discuss your mortgage needs and guide you through the home-buying process. This can be much more efficient and stress-free than working with a large, out-of-state lender.
By choosing a local Mecklenburg County mortgage broker, you can support the local economy and receive the personalized and expert guidance you need to navigate the home-buying process.
How long does it take to get pre approved for a home loan with ERC?
Getting pre approved for a home loan is a lot easier than you may think. There are only two steps and if you are a list oriented person, the process is a breeze.
First you should connect with an ERC loan officer, you can move onto step two, the application.
Most applications can be completed online or, if you prefer, over the phone during the first step. Filling out the online paperwork should take less than 15 minutes and it will only ask questions you’re sure to know the answers to, make sure to supply the documentation the loan office lists out for you in the phone call/follow up email so they can thoroughly review your qualifications.
Contact Us Today
Please feel free to e-mail or call us regarding any questions you may have.
Senior Loan Officer
EDGEWATER Residential Capital