Is there an application fee?

Lighthouse Mortgage never charges an application fee.

How quickly can I be approved for a loan?

You can expect to have an answer within two hours from one of our loan specialists, after completing the loan application.

What are other fees I should expect to pay?

All lenders charge closing costs, which cover the third-party costs incurred in the home loan process. Closing costs may include, but are not limited to, title search and insurance, property survey, taxes, attorney fees, and deed recording. You often have the choice of paying for closing costs out-of-pocket or financing the costs into the principal balance of your loan.

Is Private Mortgage Insurance required?

Since PMI does not benifit the borrower, we like to structure your loan in a way that PMI is not required.

What will I need to apply for a home loan?

This is a list of information that you will need to provide when filling out your home loan application. You may want to print out a copy for quick reference.

• Copy of original sales contract signed by both parties (buyer and seller).

• Employment history for the past two years, including W-2 or 1099 forms, one month of current paystubs, and names/address of employers. If you are self-employed or on commission, please provide two years personal business tax returns.

• Rent or mortgage payment history for the past two years, including dates of residence, landlords' names, addresses and phone numbers, and/or mortgage holder information. If selling a home, we'll also need a copy of the signed sales contract.

• Two recent bank statements.

• Revolving credit and installment loan information, including creditors' names, account numbers, current balances, and monthly payment information.

• Loan information on other real estate you own, including loan numbers, addresses, current balances and monthly payment information.

• Social security number(s).
• Copy of driver's license or other photo ID.
• Certificate of Eligibility or DD214's (VA only).

How large of a down payment do I need?

Down payment requirements vary based on the price of the home you want to buy and the loan program you select. We have many loan programs that do not require any downpayment. VA loans also require no down payment for qualified members and veterans of he armed forces.

How do I know if I can afford to purchase a home?

Most people are surprised to find out that they are able to become a homeowner. Contact Lighthouse Mortgage and we can quickly determine how much of a home loan you can qualify for.

How long does the loan process take?

This can vary greatly based on individual circumstances. In general, the entire loan process for a home purchase can be completed and ready to close in 30 days. A refinance can be completed in as few as 14 days.

Lighthouse Mortgage, Inc.
5525 N. Union Blvd., Suite 203
Colorado Springs, CO 80918

Phone: (719) 599-4150
Toll Free (877) 599-4150
Fax: (719) 599-4151

info@lighthousemortgages.com