• FMB will conduct a preliminary review of your financial circumstances to determine how much money a lender will be prepared to lend you.
• FMB will collect all relevant documentation needed by the financier to process your mortgage (except for your bank statements which you must collect yourself).
• FMB has made arrangements with a selected list of Valuators and Land Surveyors that appear on the panels of leading lending institutions, to provide valuation and surveyor’s identification reports at discounted rates for its clients. FMB at the borrower’s direction will commission these reports on their behalf.
• FMB will undertake the direct requisition of verification of income, property tax certificate, National Housing Trust referral letter, Quantity Surveyor Bills of Quantities and Estimates among others on your behalf and with your permission.
• FMB will explore with each financier the possibility of granting your mortgage
• FMB will keep you updated on each stage of the processing
• FMB will turn around your application in the shortest possible time
• FMB will remain in the processing until the final disbursement cheque is dispatched

Prequalification

The pre-qualification step is to determine how much money a lender will be prepared to lend to a specific borrower. This process provides an estimate of the maximum amount of loan for which a borrower might qualify, subject to their income level, an acceptable amount of outstanding debts and the amount of down payment that should be made. Please contact us for your free prequalification.

This will determine the portion of the income that a borrower can comfortably commit to service their total debt including a mortgage loan. Income, long-term debts and mortgage payments are the primary factors that will affect the qualifying of a borrower for a loan.

Good Faith Estimate of Mortgage Costs

A Good Faith Estimate is an itemization of the estimated cost and payments required in the processing of a loan. The Good Faith Estimate is intended to ensure that borrowers have adequate information about this cost early in the application process, so as to enable them to make adequate financial preparations.