1. Homebuyer Planning Kit
NextNext

2. Agenda
Welcome Message
Who is Get A Rate
Our Mantra
Why Choose Get A Rate
Your Team
Our Resources
Benefits
Our Process
Where Do We Start
Pre-Approval Checklist
Simple Process
Pre-Approval Checklist
Same Day Pre-Approval
Timeline
Credit Scores
Ahead Of the Curve
Internal Control
To Do List
To Do Not List
Glossary
NextNextPrevPrev

3. 3
Welcome Message
Why don’t we grab a cup of coffee? Let’s start there…
If your reading this, it’s because we’re really interested in getting to know you.
Why? Because we would like to help you in your goal of homeownership.
NextNextPrevPrev

4. 4
We love what we do and are committed to it.
Our main goal is to make sure we’re of value to you.
Why? We understand that value promotes human
action.
Our company recognizes how important a
structured process is for the success of your
homeownership goal.
Who Are We?
We Are Get A Rate…
“A Google Minded Company with Tenacity”
NextNextPrevPrev

5. 5
live – we commit to you
love - you are the heart
of our success
be – we believe in
making sure you’re
ready
live it.
love it.
be it.
Our Mantra
NextNextPrevPrev

6. 6
Why Choose Get A Rate?
Streamline Process
Easy, Efficient & Quick
Experience
Real Answers
Real Pre-Approvals
Save Time
Super Low Rates
Save Money
Direct Lender
Complete Supervision
Modern Operation
Convenience
NextNextPrevPrev

7. We are small
stars doing big
things in this
universe.
Benefits To
You…
NextNextPrevPrev

8. 8
Your Team
Key Team Members
Yo
u
MLO
Account Executive
With Get A Rate
Underwriter
Personal
Underwriting
Team
Appraiser
To Find Out The True
Market Value Of The
Home
Attorney
To Protect Your
Best Interest
Inspector
Home Inspection
Report
Insurance
Home Owners
Insurance Policy
Michael Sema
President
NMLS # 252607
O (201) 393 - 0200
M (973) 303 - 3013
michael@getarate.com
Sample Name
Realtor Associate
REMAX
O (201) 393 - 0200
M (973) 303 - 3013
sample@email.com
NextNextPrevPrev

9. 9
Our Resources
Company Tools and Resources
Loan Options
Variety of loan
options to fit all
needs.
Buyer Kits
Kits to help guide
you throughout the
process.
Check Lists
Access to online or
printable check lists.
Calculators
Online & mobile
calculators that allow you
to calculate payments -
on your time.
Client Education
Training and educational
material on the home
buying process,
products & more.
NextNextPrevPrev

10. 10
Benefits To You
Structure. Structure. Structure.
Resources
If you build it, they will come. Our business is
based on 70% realtor referrals and we love
them for it. Our training and resources are
designed specifically to help you achieve
success in affordable home ownership.
Structure
At Get A Rate, we understand the importance of a
structured process. When combining structure
and discipline with an ethic of entrepreneurship,
you get the magical alchemy of great
performance.
Our Simple Process
Have you ever seen a lender close a purchase loan
in under 8 days? We have and continue to do so.
Our in house underwriters and processors are
great at what they do. They take pride in making
sure you’re always updated throughout the
process and your file closes on time.
Technology
Our clients and realtors are the heart of our business.
Unlike most of the industry, Get A Rate focuses its
efforts on state of the art technology that improves
and simplifies the approval process, speed,
efficiency and productivity. What does this mean
for you? Great customer service that makes you
smile throughout the home buying process.
Loan Programs
More options for consumers will always equal to
more closings. Our programs start with your typical
conforming, FHA, VA, USDA but also go into Super
Jumbo, Construction and Non Agency programs
as well. Lets not forget about our No PMI and No
Condo Questionnaire programs.
Tools
We’re a modern day company with modern day tools.
Our tools are here to help you throughout the
process. Our mortgage calculators help with
monthly payments, amortization schedules, bi-
weekly effective interest rates and more.
NextNextPrevPrev

11. 11
Understanding Our Process
2
Pla
n
1
Lear
n
3
Clos
e
During the discovery
period, we get to learn
about you and your
goals.
We take the discoveries
and create a plan:
Rates, Programs,
Payments and more.
After selecting a plan,
we finish processing
your loan and get you
ready to close.
NextNextPrevPrev

12. 12
Where Do We Start
Let’s See If We’re A Right Fit
This meeting is to
see if we’re a right fit
for each other over a
cup of coffee.
Discuss your goals,
plans, and steps to
get there.
Review the loan and
rate options available
to you.
The revision period is
only if we need to
update or change the
loan or rate.
Delivery consists of
the final review and
verbal agreement to
work together.
Brainstorm
Final Step
Proposal
Revision
Meeting
NextNextPrevPrev

13. 13
Start
Closer
Underwriter
Processor
MLO
Our Simple Process
It’s So Easy
- We Get To Know You
- Find Out About Your Goals
- Home Purchase Review
- Be of Value
- Complete Loan Application
- Collect Initial Set of Docs
- Prepare Disclosures
- Submit
- Second Set of Eyes
- Prepare File For Underwriting
- Assistant to MLO
- Clear Conditions
- Final Review
- Clear To Close
- Closing Doc Prep
- Wire Funds
- Close
NextNextPrevPrev

14. 14
Drivers License
Social Security Card
Identificatio
n
Group A
Most Recent
2 Paystubs
2 Years of W2’s
2 Years of Tax Returns
Income
Docs
Group B
Most Recent
2 Bank Statements
Proof of Funds
Group C
What Is A Pre-Approval?
A Mortgage Pre-Approval is a preliminary statement that affirms according to your credit history, income and down payment reserves, you will
be able to obtain a loan up to a specific amount. It also affirms that an underwriting department has reviewed and verified your scenario.
A Mortgage Pre-Approval is not a commitment to lend and additional documentation may be required.
Pre-Approval Checklist
List Of Documents Needed
NextNextPrevPrev

15. 15
Same Day Pre-Approval
Here Is Where We Shine
Run FindingsVerificationApplication
03
After the application is
completed and documentation
is verified, we make sure to run
findings for eligibility.
02
The most recent income,
cash reserves, and credit
documentations are always
reviewed and verified.
01
A detailed residential loan
application is completed
by asking the right
questions.
04
The final piece of the puzzle
is our in-house Underwriter
reviews steps 1, 2 & 3 before
issuing a pre-approval.
Underwriter
Our Average Turn Time is 90 Minutes
NextNextPrevPrev

16. 16
Timeline Project Example
What To Expect During The Process
Start
Week 1
Weeks 2 to 3
Week 4
Pre-
Approval
Find An
Agent
Attorney
Review
Submit
Loan
Clear
Conditions
Final
Disclosures
Sign
Closing
Docs
PEOPLE INVOLVED
Lender Realtor Attorney Inspector Appraiser
Shop
Offer
Find
Attorney
Inspection
Appraisal
Commitme
nt
Title Clear To
Close
Final
Inspection
NextNextPrevPrev

17. 17
Credit Score
We Choose Your Middle Score
620 - 679 720 – 759
Poor
Below 619 680 - 719 Above 760
Fair Excellent
Average
NextNextPrevPrev

18. 18
Ahead Of The Curve
www.GetARate.com
Calculators
Calculate Payments On
Your Own
Mortgage Rates
Mortgage Rate Updates
Resource
Tips On Steps To Buying A
Home And Much More
Website
Our Best Foot Forward
For The Online Consumer
Online Portal
Keeping Track Of The
Progress
Mobile
Upload Files From Your
Smart Phone
NextNextPrevPrev

19. Internal Control 19
Get A Rate vs. The Other Guy
10%
80%
10%
Internal
Branch Control
100%
Internal
Branch Control
Our company originates, processes, approves
and clears files to close all under one roof.
What does this mean?
Speed, Simplicity, Convenience &
Trust
Get A Rate Internal Strengths
10%
Branc
h
Underwriter
Closing
Department
Others Get A Rate
NextNextPrevPrev

20. 20
To Do List
Important To Do’s
Do pay all your credit cards on time.
Do keep a positive balance in all of your checking and savings accounts.
Do keep your money right where it is. Changing banks or moving money
back and forth will require an explanation, which is just more paperwork for
you and your lender.
Do provide any documentation your loan originator asks for in a timely
manner. Although it may seem like you are handing over everything but
your DNA, keep in mind that you are asking complete strangers to trust
you with thousands (if not hundreds of thousands of their dollars). Wouldn’t
you want to know who you were getting into a contract with, too?NextNextPrevPrev

21. 21
Things To Not Do
Simon Says Don’t Do…
No Large Purchases Don’t Quit
Don’t use your credit card to
buy large items or things for
your home before you close.
(No excessive spending.)
Don’t quit your job.
Don’t make out-of-the-
ordinary large deposits. If you
must, be prepared to provide
a clear paper trail from where
and why.
Don’t open new revolving
credit cards.
01 03
02 04
No New Credit No Large Deposits
NextNextPrevPrev

22. 22
Things To Not Do
Simon Says Don’t Do…
Don’t Lie Don’t Co-Sign
Don’t omit information. (This
can be the same as lying!)
Don’t co-sign on a loan for
anyone no matter how much
you love them or how many
times they promise to pay it
back. (This is a good rule
whether you are buying a
home or not.)
Don’t just get pre-qualified,
get pre-approved.
Don’t make sudden changes
in your spending habits or
income.
05 07
06 08
Don’t Change Don’t Pre-Qualify
NextNextPrevPrev

23. 23Real Estate & Mortgage Glossary
We Thought You Should Know…
A
Adjustable-Rate Mortgage (ARM) - Loans with an initial fixed rate period
(usually 5,7 or 10 years. After the fixed rate period, your interest rate may
change once per year - either up or down depending on market
conditions. ARM’s are almost always lower in rate than fixed loans and
can offer huge savings to first time home buyers especially those who
don’t plan on staying in their home for more than 10 years.
Amortization - The paying off of a debt with a fixed repayment schedule
in regular installments over a period of time.
Annual Percentage Rate (APR) - The total cost of a loan, which includes
not only the interest rate, but all costs associated with the loan, such as
closing costs and fees. Once this is determined, the APR is then
amortized over the life of the loan. In order to allow borrowers to
compare various loans and lenders, the APR is required to be disclosed
by the Federal Truth-in-Lending statues.
Application Fee - One time processing fee for a loan. This fee may be
applied towards various costs, including the appraisal and credit report.
Appraisal - An estimate of the current market value of the property.
B
Buy Down - The ability for the buyer to lower their initial interest rate by
providing money upfront or by paying extra points up front at the closing
of the loan.
C
Closing - The time where buyer and seller exchange money for title and
sign closing papers to a new home. This finalizes the agreements
reached in the sales agreement.
Closing Costs - Refers to the lender’s costs for closing a loan or all the
Conventional Mortgage - A loan that is underwritten, following specific
guidelines, by banks, savings and loans or other types of mortgage
companies. Typically, this refers to loans underwritten to the guidelines
of Fannie Mae or Freddie Mac.
D
Deed of Trust - The legal document that transfers property from one
owner to another.
Down Payment – The amount of your home’s purchase price you pay
upfront.
E
Earnest Money - Upfront money provided by the borrower to the seller
as a show of good faith towards the purchase price of a home.
Escrow Closing - A third party that acts as a neutral party and receives
documents for the exchange of the deed by the sellers for the buyer’s
money.
F
First Mortgage - Takes priority when there are other voluntary liens
present.
G
Gift Letter - A letter, which details the amount of gift and name of the
giver, which indicates a gift of cash to the buyer of a home. This can be
provided by relatives, friends, non-profit organizations or government
agencies depending on the requirements of given lender and product.
Good Faith Estimate (GFE) - A written estimate of closing costs that
lenders are required to provide potential borrowers within three days of
an application submission.
NextNextPrevPrev

24. 24Real Estate & Mortgage Glossary
We Thought You Should Know…
H
Hazard Insurance - Also known as homeowner’s insurance, which covers
the property from damages that may affect the value.
I
Interest - The fee a lender charges for permitting the borrower to use
their money for a specific length of time.
Interest Rate Cap - The max amount of percentage points that ARMs
may rise over a loan’s life.
L
Loan Origination Fee - Fee charged by a lender to cover administrative
costs of processing a loan.
Loan-to-Value Ratio (LTV) - The money borrowed in a mortgage
transaction compared with the value of the property you wish to
purchase. (Loan Amount / Home Value)
M
Mortgage - The document providing a lien on a home in exchange for a
lender’s financing. The lender secures this financed loan through this
mortgage and has the ability to foreclose on this home as well.
Mortgage Banker - An entity that lends its own funds to borrowers while
also bringing together lenders and borrowers. Mortgage bankers may
also collect monthly payments.
O
Origination Fee - A fee that is charged by a lender to cover the
administrative costs of processing a loan.
P
PITI ( Principal-Interest-Taxes-Insurance) - Four pieces included in a
monthly mortgage payment. Portion of each payment applied to each of
those elements.
Point - Each point equals one percent of your total loan amount. The
more points you pay, the lower the interest rate you get.
Private Mortgage Insurance (PMI) - Paid in monthly installments by a
borrower or upfront as part of the closing costs, this insurance allows a
lender to lend more than 80% of the value of a property while protecting
the lender on risk to the top 20%.
R
Recording - Filing documents at various government agencies - local,
state, and federal - to create a public record.
S
Settlement Statement - Known as the HUD-1, this details the transaction
paid out and received by the buyer and seller at closing,
T
Term - Typically 15 or 30 years, this is the life of the loan.
Title – The title is the actual document that gives evidence of ownership
of a property.
Title Insurance - Title insurance protects lenders against any title dispute
that may arise over a particular property. Home title insurance is a
required fee paid at closing.
NextNextPrevPrev

25. 25
Thank You
We Look Forward To Earning Your
Business1 U.S. 46
Elmwood Park, NJ, 07407
201-393-0200
Michael@getarate.c
om
www.GetARate.c
om
Michael Sema 973-303-3013
PrevPrev