Welcome To I Love My Lender
A Lender
With More To Love
Helping you understand the process, and how to take advantage of fluctuations in lending rates.
Once again we gather in front of the TV, fingers crossed, hoping to see a Federal Reserve rate reduction. The percentage guesses for what would be done yesterda...
35+ Years
With experience in residential and commercial lending and sales, a strong grounding in technology and a vision to clearly see the future of banking
Let’s find out what your rate would be today.
Designed With Differences We Hope You’ll Love
To exceed the boundaries of ordinary lenders, pushing the edges of technology and customer service.
Guide To Loan Types
Conventional, VA, Jumbo, HELOC, USDA, Stated Income (bank statement or P&L), Fix & Flip, and Commercial. Understanding the differences and general requirements.
Resource Guide
Personal, Business, PPE – tools and toys to make your journey easier, now and after your loan.
Technology is quickly taking over the banking industry. In a world where most would like full online access to mortgage products, the industry, overall continues to get closer to this. We see ourselves not only on that forefront, but driving its objectives, making borrowing on real estate
Guide To Loan Types
Conventional, VA, Jumbo, HELOC, USDA, Stated Income (bank statement or P&L), Fix & Flip, and Commercial. Understanding the differences and general requirements.
Resource Guide
Personal, Business, PPE – tools and toys to make your journey easier, now and after your loan.
Purchase Strategy
Refinance Strategy
Today’s Mortgage Rates
Pre-Qualify
Calculators
We Have Solutions For Many Refinance
and Purchase Situations
Standard Mortgages (with or without cash out)
Conventional, FHA, VA, High-Balance, Jumbo, HELOC – what best fits your situation?
VA Refinances and VA IRRRLs
Take advantage of your service credentials. Limits have been removed so…
Reverse Mortgages – HECM
You have built up the equity. Why not let it make your life easier? If you are 62…
Stated Income (bank statement or P&L loans)
Write offs make the income on your tax returns unable to cover lender DTI…
Standard Mortgages (with or without cash out)
Conventional, FHA, VA, High-Balance, Jumbo, HELOC – what best fits your situation?
VA Refinances and VA IRRRLs
Take advantage of your service credentials. Limits have been removed so…
Reverse Mortgages – HECM
You have built up the equity. Why not let it make your life easier? If you are 62…
Stated Income (bank statement or P&L loans)
Write offs make the income on your tax returns unable to cover lender DTI…
Standard Mortgages (with or without cash out)
Conventional, FHA, VA, High-Balance, Jumbo, HELOC – what best fits your situation?
VA Refinances and VA IRRRLs
Take advantage of your service credentials. Limits have been removed so…
Reverse Mortgages – HECM
You have built up the equity. Why not let it make your life easier? If you are 62…
Stated Income (bank statement or P&L loans)
Write offs make the income on your tax returns unable to cover lender DTI…
Find The Right Loan For You
Standard
Conforming & High-Balance
Most common refinance method, remove PMI, lower rates, access equity…
Jumbo
Jumbo Loans
Beyond a cities conforming limit, a loan is a Jumbo. No limits, additional requirements and ratio restrictions may apply…
Reverse
Reverse Mortgage or HECM
HECM (home equity conversion mortgage or reverse mortgage). You built up equity. Why not use it to make life easier? Refinance, take cash out, make no payment and never make another mortgage payment…
Fix & Flip
Fix & Flip
Get a loan on your property which includes its current value, and takes into consideration upgrades you plan. Additional funds granted for those upgrades…
VA Loans
VA Loans & IRRRLs
Use your past (or present) military status to refinance a standard loan to a VA at a lower rate. Perhaps pull out some equity. VA to VA (IRRRL) refinances are quick and require very little paperwork…
USDA
USDA to USDA streamlines
Already have a USDA loan? Refinance USDA to USDA to lower your rate. Quick loans requiring little paperwork…
Stated
Income
Bank Statement or P&L (Non-QM Loans)
Too many write offs? DTI (debt to income ratio) won’t qualify for a conventional loan? Our programs accept 12 or 24 months of banks statements or your business P&L to qualify your loan…
Standard
Conforming & High-Balance
Most common way to buy property. Requires a down payment, possibly other costs and your income must qualify you…
Jumbo
Jumbo Loans
Beyond a cities conforming limit, a loan is a Jumbo. No limits, additional requirements and ratio restrictions may apply…
Reverse
Reverse Mortgage Purchase
At age 62, with about 50% equity you can purchase a home and never make a mortgage payment…
VA Loans
VA Purchase
$0 down, no PMI and no loan limits. Rates generally run lower than conventional loans…
Commercial Lending
Commercial Purchase & Refinance
Vary greatly depending on situation. Please speak with one of our experts. Give us some basic information about your scenario below:
The I Love My Lender Difference
Being easily accessible on a number of platforms. Utilizing secure technology to improve your experience.
Offering current updates on the mortgage industry and rate trends. ILML is a direct lender so we do fund our own loans. We are also affiliated with over 100 other lenders, providing extremely competitive rates and programs that accommodate most scenarios.
The Loan Process – Today
Many changes have occurred in the mortgage industry since the COVID 19
Outbreak. Some affect the loan process itself.
01
Application
With a live agent or a secure online form
02
Document
Sent via email, secure upload, fax or mailed to us
03
Lock It secure your rate
Locked for specific period usually 30-45 days
04
Disclosures (Loan Estimate)
Includes approximate loan amount and costs. More importantly are the Intent to Proceed, and documents we need to remain compliant and do our job.
05
Appraisal (if needed)
Depending on the circumstances we may or may not receive a PIW (property inspection waiver or appraisal waiver) through FNMA and FMAC.
06
Additional Documents
Underwriting, final say on all loans, may require additional documents. Our processors will work with you to make certain we receive them in a timely manor.
07
Final Disclosures (CDs or Closing Disclosures)
This final summation includes correct amounts, payoffs, interest rate & APR, costs, credits and cash in or out.
08
Signing Final Documents
The final loan documents are signed in person, in front of a notary. It can be held at the location of your choice or at the local escrow office.
Take The First Step Towards
The Right Mortgage
Find Out What You Qualify For
How Do You Qualify For A Loan?
Lenders determine the amount they’re willing to lend you by considering several key factors, including:
– Your credit score
– Your DTI (debt-to-income ratio, essentially your monthly income vs. your expenses)
– The specific loan program you’re applying for
In essence, the loan program takes precedence over everything else. For example, a bank statement loan uses a different method to calculate DTI, and in the case of a reverse purchase or refinance, income isn’t a primary consideration—rather, it focuses on your ability to cover taxes and insurance. Given that new programs are constantly emerging, it’s advisable to consult with a knowledgeable expert to identify the most suitable and up-to-date solution for your needs.
– Your credit score
– Your DTI (debt-to-income ratio, essentially your monthly income vs. your expenses)
– The specific loan program you’re applying for
In essence, the loan program takes precedence over everything else. For example, a bank statement loan uses a different method to calculate DTI, and in the case of a reverse purchase or refinance, income isn’t a primary consideration—rather, it focuses on your ability to cover taxes and insurance. Given that new programs are constantly emerging, it’s advisable to consult with a knowledgeable expert to identify the most suitable and up-to-date solution for your needs.
Closing Costs – To Show Or Not To Show?
Closing costs are an inevitable part of any loan, encompassing expenses such as Title, Escrow, and Appraisals. Your choice lies in whether to transparently pay these costs upfront or incorporate them into your mortgage rate, which will, in turn, increase your monthly payment. The decision hinges on the duration for which you intend to keep the loan:
– Short Term: If your plan involves quick refinancing (for example, in the case of fix-and-flip projects or if you anticipate interest rates dropping soon), it’s more advantageous to include these costs in the rate. This way, you spread the expense over the loan’s entire term, which can significantly reduce the immediate financial burden. For instance, if you have a 30-year loan and refinance within 6 months, you’ll only pay a fraction of these costs.
– Long Term: Conversely, if you intend to retain the loan for its full term or an extended period, it’s wiser to itemize and pay these costs at the closing stage. This approach typically results in lower overall expenses, as incorporating them into the rate means you’ll accrue interest on them over time.
– Short Term: If your plan involves quick refinancing (for example, in the case of fix-and-flip projects or if you anticipate interest rates dropping soon), it’s more advantageous to include these costs in the rate. This way, you spread the expense over the loan’s entire term, which can significantly reduce the immediate financial burden. For instance, if you have a 30-year loan and refinance within 6 months, you’ll only pay a fraction of these costs.
– Long Term: Conversely, if you intend to retain the loan for its full term or an extended period, it’s wiser to itemize and pay these costs at the closing stage. This approach typically results in lower overall expenses, as incorporating them into the rate means you’ll accrue interest on them over time.
Write Off Most Income? We Have Plans For You.
Lenders consider several factors when evaluating your eligibility for a mortgage, and one of these factors is your monthly gross income. This income is assessed before taxes but after accounting for deductions. If you’re self-employed or a business owner, you might earn a substantial income but often deduct a significant portion of it to mitigate tax liabilities. As a result, your traditionally quantifiable income for mortgage qualification purposes can appear limited.
– Bank Statement Loans or P&L/Balance Sheet Loans: These types of loans deviate from the standard personal tax return rules. Instead, they focus on your monthly personal deposits to determine your qualification, allowing for a more flexible assessment of your income.
– Bank Statement Loans or P&L/Balance Sheet Loans: These types of loans deviate from the standard personal tax return rules. Instead, they focus on your monthly personal deposits to determine your qualification, allowing for a more flexible assessment of your income.
Resources – Personal, Business And PPE
Discover a wealth of free resources, including links to websites, software, and various tools designed to enhance productivity and simplify daily life. Explore an effortless phone number search tool for any company, complete with strategies to expedite your connection with a live representative. Additionally, find information on a US cell phone provider offering unlimited text, data, and worldwide calling for as little as $30 per month for a single line. Dive in and explore many more valuable resources waiting for you.
– Business Resources
Explore an array of items, programs, and web links aimed at simplifying life and boosting productivity.
– Effective PPE
Learn about N95 masks, including proper care instructions, reliable sources to obtain them, distinctions between various types, and the significance of wearing personal protective equipment (PPE) that prioritizes your safety.
– Business Resources
Explore an array of items, programs, and web links aimed at simplifying life and boosting productivity.
– Effective PPE
Learn about N95 masks, including proper care instructions, reliable sources to obtain them, distinctions between various types, and the significance of wearing personal protective equipment (PPE) that prioritizes your safety.
How Do You Qualify For A Loan?
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
Closing Costs – To Show Or Not To Show?
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
Write Off Most Income? We Have Plans For You.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
Resources – Personal, Business And PPE
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
How Do You Qualify For A Loan?
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
Closing Costs – To Show Or Not To Show?
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
Write Off Most Income? We Have Plans For You.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
Resources – Personal, Business And PPE
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
Testimonials
Zero cost loan was better for me
It makes a difference when someone knows their job well enough to give a brief education to a client. I was going back and forth on paying closing costs or doing a zero cost loan, adding the costs to the interest rate. Well my goal was short term and I was going to need to refinance again within a year for personal reasons. Made sense not to lose all the up front costs by amortizing them over the full term of the loan so when I refinanced the 2nd time I didn’t lose all those costs. So hard to find a loan officer that works for a lender that is this well informed. Highly recommend them.
Cameron T.
Retail Manager
Had zero cost loan but showing the cost was better for me
I have been shopping loans for a while and have been focused on loans that are zero-cost loans. I didn’t understand that those costs just get embedded into the loan interest rate and by not showing them I can’t write them off my taxes. After discussing it with my CPA I found I Love My Lender’s suggestion was correct and closed that way. I am paying less per month than I would have and got the tax write-off on top of it. The very knowledgeable crew there.
John S.
Insurance Agent
Closing at my convenience
Seems they can make things work under my schedule no matter what. Ended up taking a quick vacation with family and our closing date came up. I Love My Lender found a way to send a notary to me at the resort I was staying at. Nothing like signing loan docs with a Mai Tai. Thank you for making it easy for me.
Kelsi G.
Insurance Broker
Turned my situation around
We had our current lender mistakenly show mortgage rates and put a foreclosure against us because of it. Mr. Diamond spent time with our lender explaining the situation, got them both turned around, got our refinance done, and saved us tens of thousands per year! Amazingly talented. Highly recommend this company.
Robert B.
MD
Have to give them credit
We had a large jumbo loan and they guided us through what we needed to do to increase our credit score and gave us an easy way to monitor it. They helped us get our score up and saved us a lot on the better rate we got with the higher score. Highly recommend them.
David K.
Auto Restoration
Riding the Rates was a great ride
I got on the rate update list back in June of 2021 and since I could see daily how rates were changing I got to take advantage of the drop in late July. Got a better rate here than I would have anywhere else as most want you to lock right away. I Love My Lender not only has a strong understanding of the lending space, they share the information to benefit their clients in a way no other lender does. Highly recommend the team at I Love My Lender.
Erica S.
CPA
I won the bid on my property!
It is so competitive buying property right now, and a lot getting sold all cash, that I was losing property bids left and right. Unfortunately I was not in a position to buy all cash. Then I found I Love My Lender and got one of their E Pre-Quals to submit with my offers. Sellers loved the fact that we could get started sooner than other people with pre-qualification letters and I won my next bid! Name works for me – I Love My Lender. Recommend them to anyone.
Monica Q.