Lucas Life & Home

Mortgage Loans

A mortgage loan is a type of loan specifically used to purchase real estate, such as a home or property. It is typically repaid over a set period, often ranging from 15 to 30 years, through regular payments that include both principal and interest.

Powered by CMS Mortgage Solutions Inc., we offer the services of a mortgage loan originator (MLO), which is a professional who helps borrowers navigate the mortgage process from application to closing. We work with borrowers to assess their financial situation, guide them through the various loan options available, assist with the application process, and ensure all necessary documentation is in order. MLOs also work with lenders to secure the best possible terms and rates for their clients.

Some of the services we provide include:

  1. Prequalification: Assessing a borrower's financial situation to determine how much they can afford to borrow.
  2. Loan Application: Assisting borrowers with completing the mortgage application and gathering required documentation, such as income statements, tax returns, and asset information.
  3. Loan Selection: Educating borrowers about different types of mortgage loans and helping them choose the loan that best fits their needs and financial goals.
  4. Rate Locking: Helping borrowers secure a favorable interest rate by "locking in" the rate for a specified period.
  5. Loan Processing: Working with lenders and loan processors to process and underwrite the loan application, ensuring all requirements are met for loan approval.
  6. Closing Coordination: Corresponding with closing professionals to facilitate the closing process, including coordinating with the title company, escrow agent, and other parties involved in the transaction.

There are several types of mortgage loans available to borrowers, each with its own features and requirements. Some common types include but are not limited to:

  1. Conventional Loans: These are traditional mortgage loans that are not insured or guaranteed by the government. They typically require a higher credit score and down payment compared to government-backed loans.
  2. FHA Loans: Insured by the Federal Housing Administration (FHA), these loans are popular among first-time homebuyers and those with less-than-perfect credit. They require a lower down payment and have more flexible qualification criteria.
  3. VA Loans: Guaranteed by the Department of Veterans Affairs (VA), these loans are available to eligible veterans, active-duty service members, and their spouses. They offer no down payment options and competitive interest rates.
  4. USDA Loans: Backed by the U.S. Department of Agriculture (USDA), these loans are designed to help low- to moderate-income borrowers in rural areas purchase homes. They offer no down payment options and may have lower interest rates.
  5. Jumbo Loans: These are mortgage loans that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. They are typically used to finance higher-priced properties and may require larger down payments and higher credit scores.

Overall, we play a vital role in helping borrowers navigate the complex process of obtaining a mortgage loan, ensuring they secure the best possible terms and rates for their home purchase. We are here to help!

01

image

Discuss Needs

Analyze individual and family needs

02

image

Evaluate Options

Consider available options

03

image

Find a Solution

Make the best choice for you and your family

"Being a mortgage loan originator is more than a career—it's a calling to empower individuals and families on their journey to homeownership. It's about guiding them through the maze of mortgage options and turning their dreams of owning a home into a reality."
Jessica Lucas
Vice President of Lucas Life & Home, LLC
Contact

Get In Touch