Application

When should I apply for a loan?

You should submit your loan application after you have been pre-approved and have an accepted offer. Applying does not guarantee loan approval, it simply begins the process to move forward with pur...

What is the loan purpose and why do I need to provide it?

The loan purpose is the primary reason you are requesting a loan from Semper Home Loans. Some examples of home loan purposes would be: Purchase: Purchasing a single-family, multi-family or condo P...

How do I know what loan is right for me?

Your Mortgage Originator will help you determine what loan program will be right for your specific financial situation based on the information you provide on your application. You can find more in...

Where do I apply for a loan?

At Semper Home Loans, applying for a loan is easy. Our HomeEasy® app lets you conveniently apply from your phone or mobile device anytime. We make it simple; you make it home.

Who should be on the loan application?

If you are applying alone, you will be the only person listed on the application. If you apply with a co-borrower, they will need to be listed on the application. Having a co-borrower on the loan a...

What do I need for the application?

Depending on your job status and income there are a variety of documents you will need. Here are some items we may ask for when applying: W-2’s (for the last 2 years) Recent pay stubs Tax Returns ...

Why do I need to provide this information for the application?

To determine your eligibility for a loan amount, we must ensure your ability to repay the loan. This is done by obtaining information from your income, debts and credit score. Ensuring you can comf...

What are my assets and why do I need to include them?

We will look at your assets and income to calculate your net worth. This allows us to see how you will be repaying your loan and how you will continue to make payments if a life event, such as loss...

How is my income calculated?

Your income calculations will include all sources of income, including those of your co-borrower if applicable. If you receive alimony, child support, disability or other income it will need to be ...

When will I receive important documents from Semper Home Loans?

As a mortgage lender, we are required to adhere to specific regulations to protect the consumer and ensure fair lending practices. By law, we are required to disclose a loan estimate to you within ...

What if information on my application is wrong?

A mortgage application requires you to provide a significant amount of information about your personal, professional and financial life. If information on your application is incorrect it could aff...

Is there a Prepayment penalty?

Semper Home Loans does not have a prepayment penalty.

Am I required to have PMI or MI?

You may be required to have Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP) depending on the type of and the amount you put down. For conventional loans, if you put down less t...

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