Buy a Home Overview

• Meridian Home Mortgage will never ask you to pay any upfront fees or make a so-called deposit


• You should never pay a lender any up-front application or deposit fees, no matter what


• Many lenders will tell you that it’s mandatory and that it’s only a deposit that will go towards other settlement fees like an appraisal, etc.


• Upfront fees and deposits are designed to lock you into a process in advance and are usually non-refundable

If we ask you to agree to anything at settlement that has not been previously disclosed, we will make your first mortgage payment.

• Our team approach is unique in the mortgage industry


• No matter what stage of the process your home loan is in, it is being managed by a specialist in that area. Our skilled team members focus on areas where they are strongest and have the most experience. This means that your home loan is always in the best and most capable hands throughout the entire process


• It ensures that every loan closes as quickly as possible


• It also ensures that you will always be able to discuss your home loan with someone who can give you real time status updates. You will never be funneled into a voicemail system or get lost in an automated phone tree

• We return calls immediately


• We listen to your individual situation and explain all loan options available to you in detail


• We answer all questions honestly and accurately and offer solutions that are based on our experience and geared towards your personal situation


• We routinely update you on the status of your home loan


• We immediately call you to explain any changes or potential issues with your loan file


• We work closely with you and your agent to clear any hurdles before closing your loan


• We preview all final settlement figures with you to ensure a smooth closing

• A+ BBB rating
  Meridian Home Mortgage has proudly maintained an A+ rating with the Better Business Bureau for over ten years. As a matter of fact, BBB only reports 1 complaint out of the tens of thousands of prospective customers that Meridian Home Mortgage has worked with over the years


• Customer Reviews
  Meridian Home Mortgage routinely solicits reviews from our customers. It’s important for us to receive honest critiques about our performance and customer service.
  Read Our Reviews


• Inc 5000
  Meridian Home Mortgage has been honored with the 2008 & 2010 Inc. 5000 Award for being one of the fastest-growing and most innovative privately held companies in America.

• Meridian Home Mortgage® has worked hard to build and maintain excellent relationships with our select wholesale lending partners


• Our honest, up-front and professional business practices have elevated us to an elite Tier 1 broker status with our lending partners


• As a Tier 1 Broker, we are able to pass along significant benefits to you that other brokers simply cannot match. Those benefits are:


• Lower rates and fees


• Meridian Home Mortgage routinely gets exclusive pricing incentives
  
• These pricing incentives equate to lower mortgage rates and fees that we pass along to you


• Guideline exceptions


• Sometimes an underwriting exception is needed to overcome a slight guideline infraction
  
• Meridian is granted exception requests more frequently than other brokers/lenders

• Preferred Underwriting


• Dedicated teams of professionals who prioritize Meridian home loans to ensure speedier closing. Our home loans close faster than other companies' loans.

• It’s important to know how much house you can afford and how much your payment will be before shopping for a home


• Getting pre-approved results in you receiving an official Letter of Approval


• Realtors agree that obtaining this Letter of Approval is the key to being able to shop with confidence


• Having this letter in hand gives you an edge over competing buyers and works in your favor when negotiating with a seller


• Meridian Home Mortgage® can pre-approve you in less than 24 hours


• Please have the following information available when calling:


• Date of birth, Social Security number, address (We provide a credit report at no charge to you)
  
• Most recent Pay stub and last two years W2 statements
  
• If you are self-employed, you will need tax returns from the last two years
  
• Account statements sourcing down payment funds

Once you've obtained your mortgage pre-approval you can begin shopping for a new home armed with the knowledge that your financing is secure. After you find your new home, Meridian will work closely with you and your agent to make the home-buying process smooth and hassle-free.

And remember - you are always protected by our Close with Confidence Guarantee.

Get Started - Call 877-878-0100 or click here to get a FREE quote. There’s no obligation and the consultation is FREE.

• While it’s not mandatory, most homebuyers retain the services of an agent to help them search for a new home, negotiate with the seller’s agent, and advise them on potential pitfalls


• Remember that agents only get paid if you buy a home. Make sure that your agent is advising you and not trying to sell you a house. You should take the time to interview agents before deciding which one to use


• A buyer’s agent represents you, the buyer. It’s important to fully understand buyer’s agent duties, loyalties and legal obligations, as they pertain to you, before you begin interviewing


• A seller’s agent represents the seller. It’s important to know the duties, loyalties and legal obligations of the seller’s agent, especially if you are speaking to or negotiating with that agent directly


• We can refer you to an experienced real estate agent in your area

• Now that you are pre-approved for your mortgage loan and have hired an agent, it’s time to begin your search


• Your agent can help pinpoint homes that best meet your needs and that are within your price range

• You or your agent will present your offer to the seller’s agent


• They might accept, reject, or counter-offer


• A good buyer’s agent will steer you through this negotiating process


• Remember, when discuss the sales price with the seller’s agent on your own, it is imperative that you understand that their loyalty is to the seller

• Once your offer is accepted you will sign a real estate sales contract


• Besides the purchase price, the contract will stipulate many of the finer details of the transaction such as how much the seller might contribute towards closing costs. Many details are negotiable


• The contract should be contingent upon the results of a home inspection


• Generally, as a sign of good faith, the seller will require an earnest money deposit once the contract is signed


• The deposit is a percentage of your closing costs that is typically held in escrow by the title attorney and applied to your settlement costs at closing

• Once your offer is accepted, it’s time to ensure that the home is in good condition and that there are no hidden issues (structurally or otherwise)


• You will need to get the property inspected by a licensed home inspector


• You should plan on attending the inspection so that you can see firsthand everything the inspector sees


• It’s vital that you review the results of the inspection carefully and remember your rights as a buyer. If repairs are needed, you can require that they be completed by the seller and/or you can renegotiate the contract sales price

• Once you have a signed contract, your lender can begin the actual mortgage loan process


• The process includes ordering an appraisal, processing and underwriting the mortgage loan and researching title, among other things


• At this point, you will need to obtain a homeowner’s insurance policy


• Learn more by reviewing our Easy 5 Step Home Loan Process

• Once your mortgage loan process is complete, you should be given enough time to review your final settlement numbers in advance of the actual closing


• Typically, you, the seller, and your agents will meet with a settlement agent (or attorney) and sign the final closing paperwork which completes the transaction

• Credit is only good for 60-90 days depending on the mortgage loan program and lender


• If the application is taken before a house is found and a contract is signed a new report might have to be pulled


• Also, if there are any delays in the loan process a new report might have to be pulled


• It is crucial that credit is not pulled by anyone else after the initial application is taken


• Avoid applying for new credit cards, education loans, auto loans, or any other type of new debt


• Do not co-sign for anyone


• If credit is re-pulled for any reason, these new credit inquiries or debts can delay your loan closing or negatively affect the mortgage loan approval

• All cash needed for closing has to be sourced and seasoned


• All deposits over $500 have to be sourced, regardless of income level


• Account statements used to prove seasoning have to be updated throughout the process


• Gifts from qualified individuals must include a donor’s withdrawal slip, cancelled check or other conclusive proof that the funds originated from the donor’s account. This applies to all mortgage loan programs

• An application cannot be underwritten without an executed contract

• Proof of income is only valid for 30 days


• It must be updated throughout the mortgage loan process


• Do not quit your job


• Be sure to communicate if there are any changes in employment status


• First time homebuyers will be subject to a 24-month verification of employment

• First time homebuyers will be subject to a 24-month verification of rent


• Or, they will need to provide an acceptable explanation for living rent free


• Transcripts, diplomas, trade school licenses, etc. can all be used as substitutions, but they need to be addressed in advance