From Vision to View!
Loan Services You Can Trust
1 Lending was founded by a group of experienced Loan Officers dedicated to using our expertise to make home financing easy, fast, and affordable. Leveraging deep industry knowledge, low overhead, and competitive broker pricing, our mission is to deliver the best rates with the best service.
Our Promise to You
States We Serve
Our Loan Products
Our team provides a variety of solutions tailored to meet your unique financing needs. The options mentioned below are just a sample of what we offer. If you are uncertain about your eligibility or how to proceed with financing your new home, please contact us. We are always ready to assist you and explore every possible way to help you achieve homeownership
Traditional Financing READ MORE >
Traditional Financing
Bridge Loans READ MORE >
Bridge Loans
Bank Statement Loans READ MORE >
Bank Statement Loans
DSCR Loans READ MORE >
DSCR Loans
Land & Construction Loans READ MORE >
Land & Construction Loans
DPA Loans READ MORE >
DPA Loans
Get To Know Your Loan Officer
Frequently Asked Questions
1My credit isn’t the best – is it better to work on repairing before I try to apply?
This depends. Often times, your situation exactly as it stands still has a viable loan option for you. The only way for us to know for sure is for you to do an application and us review your unique situation. At that time, we can let you know what you do or do not qualify for based on your credit profile, and IF more work needs to be done, we can outline what your best next steps are.
2What impact do my student loans have on qualifying?
Each credit agency has their own requirements for how we include these debts in your overall ratios, but they certainly don’t automatically disqualify you from buying a home! Many of our clients have student loans. Upon reviewing your application, we can determine which loan product you are best suited for.
3What’s today’s rate?
This has many layers to it, and they are all tied to your unique credit profile. The only way for us to get you an accurate rate quote for your scenario is for you to apply – BUT as a broker shop, we have access to all the best rates, so regardless of your profile, you can rest assured that when you work with 1 Lending you are getting the best options available in the market.
4You’re prequalified! What happens next?
Now, the fun part starts. If you are already working with an agent, they will get you set up on a home search. If you aren’t, let us know, and we will connect you with a trusted partner to help with this step. After that, you will go and tour some homes. Once you find one you love, you will write an offer. This will have an acceptance timeline included, typically 48 hours from the time the contract is written. During this time, the seller must accept, counter, or reject your offer. If either of the first of these two options occurs, within 48 hours of contract acceptance, you will deposit your earnest money to escrow. These are not additional funds to close, but rather a portion of your total funds to close paid upfront as a show of good faith to the seller, which will be deducted from the total amount due. After that, you will have an inspection period – this protects you as the buyer from any major deficiencies in the home. If needed repairs are found, your agent will negotiate on your behalf for either a credit in lieu of the repairs, or for the seller to make the repairs prior to close. Once all parties are in agreement on these items, your appraisal will be ordered. This supports that your home is worth what you are purchasing it for. Behind the scenes during this period, your file is being sent for underwriting approval, and any additional items needed to confirm creditworthiness will be requested. After all requested items are received, and the appraisal is returned at a value supporting the purchase of the home, your final documents will be sent to title. They will facilitate you signing these documents, either by notary at the location of your choice or in their office, which they will then send to the county on your closing day to record the change of ownership into your name. Once you are recorded, you get your keys!
5So I should schedule movers for first thing in the morning the day I plan on closing?
We wouldn’t recommend this. You cannot get your keys until recording occurs, which can occur late into the afternoon. Because of this, it is better to plan on actually moving in a day or two after close.
6What happens to my earnest money if something goes wrong during inspection?
If you cannot come to agreement with the seller on items that you would like repaired in order to purchase the home, or if something is noted during the inspection period that causes you to no longer want to move forward with the purchase, you will be refunded your earnest money in full. The title company will facilitate this, and it will usually be returned via standard US mail.
7What happens if the appraisal comes in higher or lower than the purchase price?
We cannot finance something for more than it’s worth – so, If the home appraises above purchase price, then congratulations – you are walking into equity! However, if the value comes in low, then one of two things will need to occur – the more common option: your agent negotiates with the seller’s agent and the purchase price is reduced to the appraised value. Another option: you decide to bring in additional funds to bridge the gap between what the home is worth and what the agreed upon contract price is. In the latter option, we will have you write a letter confirming you understand you are purchasing for more than the home is valued at.