Making Mortgages Easy For You
Start with a free pre-qualification so you know how much you may be qualified for…
Making Mortgages EASY FOR YOU For Nearly Two Decades
Strategic Lending has served the lending needs of Utah residents since 2004. As a mortgage brokerage, Strategic Lending offers many advantages over other brokerages. Not only do we do comprehensive Pre-Qualifications for all interested parties, even before a loan is originated, we are also nationally recognized experts in investment lending, and real estate investment purchases. Our expert team of in house mortgage professionals work together to ensure that loans are processed efficiently and quickly as possible, making an otherwise complicated loan process as easy as humanly possible. We save you time, hassle, and money, so you can do what you’re good.
Let’s Get Your Journey Started
Loan Application
Fill out our online loan application by clicking the button below. Your information is secure, and a loan officer will be in touch in one business day to review your application.
Loan Application
Fill out our online loan application by clicking the button below. Your information is secure, and a loan officer will be in touch in one business day to review your application.
Contact Us
Fill out our online loan application by clicking the button below. Your information is secure, and a loan officer will be in touch in one business day to review your application.
Your Loan Process…
Simplified And Streamlined
Step 1
Application
In this first step, a lender determines a borrower’s ability to qualify for a home loan based on some key information that you submit through an online application. The lender gathers information about your income, your debts, and your credit history. Based on the criteria of the collected information, the lender attempts to match you with a loan program that is suitable to your needs. If a match can be made, the borrower is pre-qualified for a loan, and the lender will begin looking at all of the necessary documentation in order to issue a more official “pre-approval.”
Step 2
Pre-Approval
This step usually takes place shortly after you are pre-qualified. Depending on whether you are trying to apply for a home refinance, for a home purchase, or for an investment purchase, the information required is virtually the same. After you complete the online (or paper) mortgage application you will be required to provide all the required documentation. We will give you a comprehensive list of the items needed. That list will include bank statements, pay stubs, W2’s, tax returns, etc. and we will provide you a secure link to upload and submit the necessary documents. The lender issues documents that disclose the loan amount, fees, and the interest rate. At that point you sign the initial loan documents which allow the lender to begin processing the loan. The application is then submitted to loan processing and underwriting can begin.
Step 3
Underwriting
The loan processor will orders an appraisal, will request home owners insurance, and a preliminary title report. The information on the application, such as bank deposits and employment, are then verified. Once all the verifications have been made and the above orders have been received, the entire mortgage package is then sent to underwriting for final review. The underwriter reviews the loan package to make sure it conforms to all the guidelines required for the loan. They also review the appraisal and title report and may do additional validation of employment and credit history. The underwriter may ask for the borrower to provide additional documentation to support the information in the file. When the underwriter determines that the application is complete and precise, the loan is approved.
Step 4
Closing
Once the loan is approved, a loan closing is scheduled for you to sign the final loan documents. These documents contain the terms of the loan and the official agreement between the borrower and lender. You will provide the down payment at this time in the form of a cashiers check. The closing is facilitated by a licensed title officer. Once the closing has been completed and all documents properly executed, the lender orders the funds for the loan. The money is wired to the seller and the transaction is recorded with the county. The buyer now officially owns the home and is given keys to the property!
Now that you know how simple the loan process can be with Strategic Lending, it’s time to get you started
Loan Types We Offer
FHA
Loan Terms: 15 & 30 year loans
Loan Types: Purchase, Refinance
Interest Rate Types: Fixed, Adjustable
Property Type: Primary Residence
This is a HUD or government insured loan that allows buyers to purchase a home for only 3.5% down. The FHA loan has maximum loan limits for each county which are significantly lower than conventional limits (Utah County’s limit is $323,750). An FHA loan is excellent for someone who has less money to put down, and someone who has higher debt-to-income ratios, or someone whose credit is less than perfect.
Only 3.5% down
Flexible qualification guidelines
Debt-to-income ratio as high as 55%
Requires upfront and monthly mortgage insurance (MI)
MI required for the entire life of the loan
Maximum loan limits vary by county
Allow for no cost, no qualifying “streamline” refinance
Pre-Approval Checklist
Fully filled out application
Most recent pay stubs covering a 30-day period of time
Two most recent years W2’s from all employers
Two most recent years personal tax returns with ALL pages and schedules
Two most recent years personal tax returns with ALL pages and schedules
If ownership in a business is 25% or more, then please provide the corresponding business tax return for the two most recent years
Two Most recent month’s bank statements
Most recent quarterly account statement of personal assets available (if applicable) such as:
401(k), IRA’s, or other retirement accounts
Copy of cash value life insurance policy statement
Mortgage statements on all financed homes properties
