Affordable Mortgage Loans for All

Guardian Savings Bank is insured by the FDIC. The FDIC (Federal Deposit Insurance Corporation) provides insurance for individual deposits. Insurance coverage levels vary based on the ownership type of the account. Individuals should consult a personal banker at a Guardian Savings Bank branch for further information. Find your branch here.

To fund its loans, the bank raises money through deposits by offering competitive interest rates. The institution characterizes itself as not being “fee-driven,” meaning it does not charge many fees on its accounts. The bank generates revenue primarily by making and selling loans, and it compensates depositors with interest on the funds provided.

At Guardian Savings Bank, we avoid a one-size-fits-all approach and utilize creative portfolio products to tailor loans to individual needs. We can accommodate various borrower priorities, such as securing the lowest possible interest rate or offering options with no closing costs. We encourage potential clients to reach out and see how our bank can offer specific options that differentiate us from other lenders.

Serving local communities is a vital and proud aspect of our job. We enjoy guiding clients through the loan process. We value seeing clients at local events and contributing to the continued growth of the community.

Guardian Savings Bank has operated in many communities for a significant period, building a strong reputation. We offer some of the most competitive mortgage rates available in the industry. We provide unique products designed to give buyers a competitive edge when searching for new properties in the market. The combination of competitive rates and high-quality products is intended to give buyers confidence when working with Guardian Savings Bank.

• Company Identity: We are a small local community bank.
• Direct Personal Service: One of our key differentiators is the ability to provide direct, personal contact to clients.
• Accessibility: Team members are personally available to answer calls when not otherwise occupied.
• Different from Large Lenders: Our personal approach is different from that of large mortgage companies. With large competitors, clients may be forced to navigate automated phone systems just to reach an individual.

Many customers experience having their mortgage sold to a different lender immediately after purchasing or refinancing a home, often before their first payment is even due. Guardian Savings Bank distinguishes itself by holding the loans we originate. Because we retain the servicing of these loans, the client is never subjected to having their loan sold to another servicer. This approach offers the primary benefit of consistency, as the client can continue to contact the same individual for any questions regarding their mortgage.

Buying a home is one of the most significant decisions a person will make in their lifetime. We understand the client’s needs and figure out what a client truly wants when looking for a property. This allows for better advice to be given to help the client reach the next step in the home-buying process.

We want to establish a deeper connection with clients so they feel comfortable reaching out with inquiries beyond the scope of their mortgage. By providing guidance on topics outside the standard lending process, we aim to ensure clients feel more secure and confident regarding their overall purchase and financing needs.

A primary responsibility for a loan adviser is ensuring communication methods align with what the client wants. Advisers should adapt their communication style to meet the specific needs of each individual client. While some clients desire frequent updates, others only require confirmation that the process is moving forward smoothly. Identifying and adhering to a client’s preferred communication style leads to the most effective overall interaction.

We promise clear and consistent communication, ensuring the realtor, the buyer, and the listing agent remain informed throughout the entire loan process. We offer rapid turnaround times for pre-qualification, often completing them on the same day or even within the same hour. We emphasize a proactive approach to challenges, focusing on finding creative financing solutions to ensure deals reach the closing table even if issues arise. The primary objective is to create a smooth, stress-free experience for clients, leading to a successful and happy transaction.

A local lender is preferable because they understand the specific local market.

No, we provide a plethora of other products in addition to conventional loans including FHA, USDA, and VA loans, along with conventional products.

Fixed-rate mortgage loans will not receive a monthly mortgage statement. These accounts will receive a coupon book for monthly payment approximately 4 weeks after loan closing. If your loan is a fixed rate and you would prefer statements, you can enroll electronically to receive them and replace future coupon book receipt. See our enrollment guide here. You must have an Online Banking account established and can enroll utilizing the enclosed guide.

Adjustable-rate mortgage loans will receive statements after the 20th of each month.

Construction loans and Home Equity loans will receive statements after the 1st of each month due to draw capabilities through the end of the prior month.

All adjustable-rate mortgage loans can enroll for electronic statements if desired. Please note enrollment is not retroactive and will only allow future statements to be sent electronically.

Guardian offers several options for making payments on your mortgage loan. You may choose any option that is convenient for you!

• To enroll in automatic payments, please contact us at 513-842-0972 or via e-mail at [email protected] to obtain the necessary forms. Additionally, you may click here to download the “Authorization for Automatic Payments” form and e-mail it to us for processing. Please note – if your loan payment is due within the next seven (7) business days, an automatic payment will be setup for the following month. You will be required to make your current payment due.
• Click here to use our bill pay option or, if a current Guardian customer, through your online banking portal.
• Make a payment at one of our branch locations. Click here to find the nearest Guardian Savings Bank branch.
• You may also opt to mail a check or money order to:

Guardian Savings Bank
2774 Blue Rock Rd
Cincinnati, OH 45239
Attn: Loan Servicing

Absolutely!

Click here to login to your online banking account and make your mortgage payment.

Additionally, to enroll in automatic payments, please contact us at 513-842-0972 or via e-mail at [email protected] to obtain the necessary forms. Also, you may click here to download the “Authorization for Automatic Payments” form to e-mail us.

Please note – if your loan payment is due within the next seven (7) business days, an automatic payment will be setup for the following month. You will be required to make your current payment due.

In most cases, no. Your automatic payment through Guardian will adjust accordingly with the change in your payment. The reason it may need to be updated is if your setup is static – meaning always pay the same amount and do not adjust when your payment changes.

• If you setup your automatic payment through the Pay Mortgage portal on our website, you may need to adjust if you set the payment to be static each month and your new payment is more than this static amount. You must login and adjust this payment personally. Guardian cannot adjust this payment for you.
• If your automatic payment enrollment with Guardian was also static, then it may need adjustment if the new payment exceeds the current static amount. If so, a new automatic payment form will be necessary to adjust.

Instructions on how to make a one-time mortgage payment or enroll to make recurring payments may be found here.

Please note – the Pay Mortgage portal does not provide your current balance, how your mortgage payment was applied or any additional information about your mortgage loan. If you would like to view this information, please enroll for Online Banking. A guide may be found here.

Yes. If you setup automatic payments through your bank or through our bill payer system on GuardianSavingsBank.com, you will need to cancel them personally. However, if you requested Guardian to draft from your bank, you may cancel by calling us at (513) 842-0972, e-mailing us at [email protected] or by clicking here to download the “Cancellation of Automatic Payments” form, filling it out and returning to our e-mail address. We are unable to cancel any auto payment requests within 3 business days of drafting as the process has already begun. We will cancel for the following payment.

A rate change notice is sent only when the interest rate or monthly payment is changing. If the annual review of your adjustable-rate mortgage resulted in no change to your interest rate, a rate change notice is not generated or mailed. Your loan continues under the same interest rate and payment terms until the next scheduled review or until a future adjustment results in a change.

For certain adjustable-rate mortgages, federal servicing regulations require a notice to be sent to borrowers approximately 210 to 240 days before the first payment at a new interest rate is due. This letter is intended to provide advance notice that the initial fixed-rate period is ending and that future payments may change based on the terms of the loan. The rate provided is simply an estimate and is required to be disclosed based on current rates at the time of letter generation. It is not your annual rate change notice.

As your annual rate change date approaches, if your adjustable rate is changing, you will receive a separate letter from Guardian indicating such. If there is no change to your current rate, no letter will be sent, and your loan will continue based on the existing rate.

Questions regarding your rate change can be directed to our loan servicing department at 513-842-0972 or via e-mail at [email protected].

Payoff information can be obtained by contacting us at 513-842-0972 or via e-mail at [email protected] to request an official payoff statement for your account. Official statements are assessed a $20 processing fee per request. You may also visit one of our local branches to begin this process if more convenient. While your loan balance is available to you online at GuardianSavingsBank.com, there are additional fees and interest calculated for your payoff. We highly recommend reaching out to us for correct quotes to avoid potential additional funds if calculated personally.

Payoffs should not be made through online bill payment or automatic payments unless specifically directed by our servicing representatives. Please mail all payoffs to:

Guardian Savings Bank
2774 Blue Rock Rd
Cincinnati, OH 45239
Attn: Loan Servicing – Payoff

This is a fee to record a satisfaction of mortgage, or a document that states you have paid your loan in full with Guardian Savings Bank. While this fee is charged on all payoff quotes assessed, it is not a fee that Guardian collects and retains. Rather, Guardian collects this fee to pay your county clerk or recorder’s office to record the document(s) necessary to satisfy your loan. A copy of this document can be obtained from your local county jurisdiction approximately 90 days after loan payoff.

Once your loan has been paid in full and closed, our system will update overnight and generate a “paid in full” letter that will be sent to your address of record within 5-7 business days.

Please ensure prior to payoff we have the most current mailing address on your account.

If we do not, please click here to download our “Contact Information Update” form, complete that form and return it to us at [email protected] for processing.

Additionally, Guardian will then file the necessary documentation with your local county recorder or clerk’s office to remove our lien(s) from your property. Timeframes vary and will generally be completed within 90 days of loan payoff. Copies of this documentation are available from your local county recording office.

Yes. If your loan is paid in full and your account or escrow indicates a balance, we will send you a refund check by mail within 30 days after the payoff date. Please allow appropriate time for mailing before inquiring about your overage.

Generally, Guardian will require some portion of the proceeds from the sale of your property to be applied to your blanket loan. This amount will vary dependent on the remaining property, current principal balance, and required loan to value (‘LTV’) to maintain sufficient equity. Read about the process and requirements here.

The due date for your mortgage payment will always be the first of every month with a 15-day grace period. While this date cannot be altered, you are able to change the date your payment is drafted if your payment is setup on automatic payments. Please contact us at 513-842-0972 or via e-mail at [email protected] to request any draft date changes.

You may also click here to download our “Authorization for Automatic Payments” form and e-mail a completed and signed form to [email protected] for processing.

Please note – if your loan payment is due within the next seven (7) business days, an automatic payment will be setup for the following month. You will be required to make your current payment due.

Yes! Regular loan payments are applied to your account in this order: interest due first, then principal, then escrow (if applicable), then fees. If you want to make an extra payment to your loan principal or have additional funds applied to your principal, you will need to specify that with your payment. You are also able to pay your regular contractual payment ahead by one month (i.e. paying both July and August payment for a due date of September 1). Any additional payments beyond one month will be applied to your loan’s principal balance until no longer pre-paid for one month.

All payments to your account are effective on the business date we receive them. Payments received after business hours, federal holidays or weekends are effective the next business day.

Guardian does not accept partial payments on your account. If you are experiencing a hardship on your account preventing you from making your monthly payments, please contact us at (513) 741-6257 for assistance.

Principal reductions are processed by our servicing team. You may mail a check to them at:

Guardian Savings Bank
2774 Blue Rock Rd
Cincinnati, OH 45239
Attn: Loan Servicing – Principal Reduction

Please include with your check distinct instructions to apply only to the principal balance of your loan. Alternatively, you may take your check to your nearest Guardian Savings Bank location to have processed.

Click here to find the nearest Guardian Savings Bank branch.

If you would like to make a principal payment to your account in excess of $10,000 and recast your loan to reduce overall principal and interest payments, please contact us at (513) 842-0972 or via e-mail at [email protected]. Alternatively, you may click here to download our “Recast Request Form”, complete it and e-mail it to us at the address above to start the process.

Note: Both your current month and next month’s payments must be paid along with your principal payment. Your recast will be effective on the first day of the second month after funds are processed (ex. paid in April, lowers in June).

We generally suggest having an escrow account on your mortgage because it combines all mortgage related expenses into one trackable payment each month. However, some homeowners will be required to maintain an escrow account for a number of reasons. Some common reasons include:

• The amount of equity in your property.
• Your property is in a High-Risk flood area and the loan was originated after 1/1/16.
• Your loan had a hardship modification.
• You have an FHA or Rural Housing Loan.

Please click here to scroll down to our Mortgage Escrow FAQ to answer any further questions you may have about escrow.

Please send us any copies of insurance to [email protected]. Prior to sending us copies, please ensure that Guardian is listed as mortgagee of your policy to avoid follow-up requests. Guardian should be listed as follows:

GUARDIAN SAVINGS BANK, ISAOA
2774 BLUE ROCK RD
CINCINNATI, OH 45239

• Principal and Interest: This is the primary portion of the mortgage payment.
• Homeowners Insurance: This is included in the monthly payment.
• Private Mortgage Insurance (PMI): This is required if a down payment of less than 20% is made.
• Property Taxes: These are also included in the monthly payment.
• HOA Dues: If purchasing a condo, homeowners may be responsible for HOA dues. These are not typically escrowed into the monthly mortgage payment, so borrowers should plan for them separately.

Private mortgage insurance (PMI) is an additional monthly cost associated with certain home loans. If you provide a down payment of less than 20% on a conventional mortgage, you may be required to pay PMI. On FHA programs, there is a similar cost known as mortgage insurance premium (MIP). Depending on the amount of money put down during the purchase or refinance of a property, this insurance may last for the entire life of the loan.

Possibly. If the initial setup of your auto bill pay was to pay the current amount due, then it will be updated. However, if you setup auto bill pay with your financial institution to make a static payment amount and the new amount exceeds the static payment, auto bill pay will reject and payment will not be made. At that point you will need to request an update to your auto bill pay or login yourself to make the necessary adjustments.

A surplus is generally caused when the monthly tax and insurance payments were lower than projected. If your surplus equals $50 or more and your loan is current, we will send you a refund check. If your loan was past due at the time of analysis, your refund will be held in escrow until your loan is brought current. If you are actively participating in loss mitigation assistance, the terms of your workout option may affect your refund. If your surplus is less than $50, we will automatically apply it to reduce your monthly escrow payment over the next 12 months.

The most common answer is because of an adjustment in your taxes or insurance bills from the prior year. While Guardian works to estimate your annual taxes and insurance to the best of our abilities, it is ultimately your city, county or insurance company who determines tax and insurance payment amounts. When Guardian then completes your annual analysis, if these amounts increased, we unfortunately must adjust your escrow payment amount to ensure enough funds to appropriately pay on your behalf.

There are several strategies for homeowners to reduce their monthly financial obligations:

1. Refinance for a Lower Rate: If you currently have a mortgage with a higher interest rate, refinancing to secure a lower rate can directly reduce your monthly payment.
2. Reset the Amortization Schedule: If you have been paying on your mortgage for several years, refinancing back to a 30-year program can lower your monthly payment, even if the interest rate remains similar.
3. Utilize Home Equity: If you have equity in your home, you may be able to use it to pay off other debts, such as credit cards or installment loans. While this may not specifically decrease your mortgage payment, eliminating other debts can increase your overall monthly cash flow.
4. Consult Professionals: Be open to professional advice, as experts can analyze your overall financial situation to find solutions beyond just the mortgage itself.

Please click here to download our “Request for Authorized User on a Loan Account” form and follow the instructions for us to add an authorized user to your account. Please note authorized users will remain on the account unless specifically revoked in writing.

Verification of mortgage requests can be made by contacting us at (513) 842-0972 or via e-mail at [email protected].

We at Guardian are sorry for your loss and are here to help. Before contacting us, we recommend gathering the necessary paperwork, such as death certificate(s), trust documentation if appropriate and/or probate paperwork naming an executor of estate. This documentation will be necessary to make appropriate changes to accounts and discuss options with next of kin.

Once this documentation is ready, please give us a call at (513) 842-0972 to discuss how we can assist you through this difficult time. Additionally, you may click here to download further information on successorship.

It is important to keep the mortgage account payments current. If you or next of kin are unable to do so, please contact us immediately at (513) 741-6257 to discuss.

You may do so by clicking here to download the “Authorization to Close HELOC” form, completing that form and returning it to us at your nearest Guardian Savings Bank location or e-mailing to us at [email protected].

Click here to find the nearest Guardian Savings Bank branch.

Please note that all applicable fees must be paid before account closure, including annual or recapture fees. If you are closing your account prior to its third anniversary of opening, a recapture fee will apply and cannot be waived. A loan servicing representative will contact you if outstanding fees remain on the account.

Disregard. These are home warranty solicitations attempting to coerce you into purchasing a home warranty for your property. Guardian will never contact you regarding a home warranty nor do we work with any providers of home warranties. Correspondence regarding your home will always come from a trusted Guardian phone number or in an envelope clearly labeled with the Guardian logo and return address.

Name changes can be processed at any one of our local branches.

Click here to find the nearest Guardian Savings Bank branch.

Additionally, you may click here to download our “Request for Name Change on Loan Account” form to make the necessary changes due to marriage, divorce, or other legal processes. Please include all required documentation.

Please note name change requests do not change the current name(s) on existing mortgage documents, only in Guardian Savings Bank systems. A refinance of your current loan would be the only way to update your existing mortgage documentation.

Contact information changes can be processed at any one of our local branches.

Click here to find the nearest Guardian Savings Bank branch.

Additionally, you may click here to download this “Contact Information Update” form, complete that form and email it to [email protected] to make specific address changes to your mortgage account.

Coupon books are mailed to our customers generally within 30 days of your current book expiring or within two weeks after loan closing. We ask you to allow appropriate mailing time to receive. If you feel you have not received your coupon book in a timely manner, please contact us at (513) 842-0972 or [email protected] so we may review.

Checks are generally mailed to customers within the first 30 days of loan closing. We ask that you allow appropriate mailing time to receive. If you feel you have not received your home equity checks in a timely manner, please visit your Guardian Savings Bank branch location to inquire.

Click here to find the nearest Guardian Savings Bank branch.

If you are currently enrolled for coupon book receipt, unfortunately a statement is not generated for your account. If you are interested in finding your current balance, understanding how your payments were applied and escrow payments made on your behalf, we encourage you to enroll for Online Banking access. Instructions may be found here. Additionally, Online Banking offers the ability to enroll for paperless statement delivery! Find how to enroll for this feature here.

Paperless statement enrollment will not generate past mortgage statements if you were on coupon books nor will it immediately generate a current statement for your account. Rather, it will begin with your next billing cycle.

Annual 1098 documents and payment histories are mailed to the borrower address on file by January 30th of each calendar year. Please allow ample time for preparation and mailing of these important documents. Guardian is unable to provide this documentation until the end of January and therefore, cannot honor requests for this documentation sooner.

If you are enrolled in paperless document delivery, you will receive an e-mail notifying you these documents are available for viewing in Online Banking. If opting for paper documentation, you should receive these documents by the end of February. If you are interested in receiving future tax and history documentation via paperless delivery, please find our enrollment guide here. Enrollment for paperless delivery is not retroactive and will not provide access to prior tax
documentation that has been mailed.

IRS requirements for 1098 statements necessitate Guardian providing you with the existing principal balance of your loan at the beginning of the given tax year, meaning the principal balance information is from January of the tax year in question, not December. You can find your December balance within the payment history enclosed with your 1098 documentation.

Yes, lenders evaluate potential borrowers by looking at their debt-to-income ratio. This ratio compares the amount of money spent monthly on debts to the amount of income coming in. Student loans are factored into this ratio in the same manner as a car loan or another mortgage.

A credit pull is required to definitively determine what a borrower qualifies for during the pre-qualification process. Once an initial credit pull is conducted by a mortgage lender, there is a 30-day window. During this 30-day window, a borrower can have their credit pulled by multiple mortgage lenders as long as the inquiries are mortgage-related. This window allows borrowers to shop around for the best rates while protecting their overall credit score. A credit report and pre-qualification are typically valid for 90 days, providing a long window for home shopping. 

A credit inquiry generally has the lowest impact on a credit score, especially when compared to major events like late payments or bankruptcies. Since buying a home is likely a person’s largest financial purchase, it is important to leverage credit at this stage to understand exactly what is affordable.

To begin the process, you must contact a loan officer. The loan officer will perform an analysis based on several key factors, including your income, details regarding the property, any assets you currently hold, and information related to your credit. This analysis is used to determine the specific amount for which you can be pre-qualified.

When applying for a mortgage, loan officers primarily require documentation regarding income and the sourcing of funds to close. The specific documentation needed varies based on your employment or financial status:

W2 Employees: Provide W2 forms and pay stubs.

Self-Employed Individuals: Provide tax returns from the last two years.

Retirees: Provide 1099 forms, Social Security award letters, and documentation of retirement accounts.

To demonstrate funds to close, such as your down payment, you will typically need to provide bank statements and information regarding retirement accounts, including 401k or IRA plans. Additionally, you will eventually need to obtain a homeowner’s insurance quote and sign a few other documents. Overall, while the process requires proof of income and assets, it is straightforward and not as intimidating as it may seem.

Obtaining a strong, non-contingent pre-approval is essential to getting a contract accepted. Demonstrating cash reserves is beneficial because it often signals that a buyer is capable of making a larger down payment. When a larger down payment is reflected on the pre-approval letter, it signals to the seller that the buyer is financially strong, which helps the seller feel more comfortable accepting the offer.

There are many people involved in the process. 

1. The buying agent: The customer’s realtor who assists the buyer. 
2. The listing agent: The realtor representing the seller who sold the home. 
3. The title/escrow professionals: These individuals act as a neutral third party to ensure all legal requirements are met for the transaction, confirming that the sellers are authorized to sell, the buyers are authorized to purchase, and the property is legally eligible to be sold.
4. The appraisers: These professionals conduct “comps” (comparables) by evaluating the house against nearby properties to ensure the home is appropriately valued and sold for a reasonable price.
5. The inspectors: These individuals perform a visible inspection of the house. Inspections are not mandatory and, if a buyer chooses to have one performed, the cost is the buyer’s responsibility rather than a bank-required expense.

Principal and Interest: This is the primary portion of the mortgage payment.

Homeowners Insurance: This is included in the monthly payment.

Private Mortgage Insurance (PMI): This is required if a down payment of less than 20% is made.

Property Taxes: These are also included in the monthly payment.

HOA Dues: If purchasing a condo, homeowners may be responsible for HOA dues. These are not typically escrowed into the monthly mortgage payment, so borrowers should plan for them separately.

The home buying process is designed to be simple and is broken into the following steps:

Initial Consultation and Pre-Qualification: The process begins by meeting to review personal finances, including a credit report and income. This step determines the appropriate budget for a home. Guardian Savings Bank provides a pre-qualification and a list of necessary documents to gather. Having documentation ready helps ensure the loan process is faster and smoother.

Offer and Loan Processing: Once pre-qualification, an offer is placed on a home, and the required documentation is submitted. The process includes setting up insurance and conducting an appraisal on the property. If everything aligns correctly, the loan is closed within 30 days.

A primary responsibility for a loan adviser is ensuring communication methods align with what the client wants. Advisers should adapt their communication style to meet the specific needs of each individual client. While some clients desire frequent updates, others only require confirmation that the process is moving forward smoothly. Identifying and adhering to a client’s preferred communication style leads to the most effective overall interaction.

To ensure a smooth mortgage loan process from pre-qualification to closing, check with your loan officer before making certain financial changes. Key actions to avoid include:

Opening new lines of credit: Avoid opening any new trade lines of credit, as the lender may need to re-verify your income, assets, and liabilities shortly before closing. New credit lines could negatively impact your debt-to-income ratio and potentially jeopardize the loan.

Changing your pay structure: Do not alter your employment pay structure during the loan process. If you are a full-time employee, you should maintain those full-time hours.

Transferring large sums of money: Do not move large amounts of money without first consulting your loan officer. Large, unexplained transfers may require additional documentation at the end of the process and could jeopardize the loan

First-time home buyers may be eligible for programs that require as little as 0% to 5% down. There are numerous different programs available to potential buyers. It is essential to consult with a loan officer to understand specific qualifications. A loan officer helps determine which down payment amount and program make the most sense for an individual’s unique situation.

The primary tip is to select a lender who demonstrates genuine care for you. Work with someone who takes the time to understand your specific financial needs, wants, and long-term goals. Choose a lender who is transparent and honest about closing costs and fees, and ensures that all contract dates are met quickly. Consider whether a lender utilizes in-house underwriting and processing. A local lender is preferable because they understand the specific local market. Having internal operations can increase the speed of the closing process.

The process from pre-qualification to closing involves the following steps and generally takes 30-45 days:

1.  Initial Consultation: Speak with a loan officer to determine the amount for which you can be approved.
2.  Pre-qualification: This initial step can take as little as 15 minutes. During this time, you will complete an application, have your credit report pulled, and verify that your debt-to-income ratios align with your target purchase price.
3. Offer Submission: Once qualified, you receive a letter to provide to your realtor. This letter is typically required to submit an offer on a house.
4. House Hunting and Offer: Have a realtor show you homes, place an offer on a property, and secure a contract.
5. Documentation: Provide all necessary income, asset, and credit documentation to the loan officer.
6. Loan Processing: After your offer is accepted, you return to your loan officer with the contract. You will review loan options and lock in a loan. The loan officer will collect necessary documentation and the file will go through underwriting to be cleared before you reach the closing table to sign and become a homeowner. The loan officer coordinates with processors, underwriters, closers, and the title company to ensure the loan is closed within 30 days.

It is a myth that a 20% down payment is required to buy a home. Some buyers choose to put 20% down to secure lower monthly payments and avoid paying Private Mortgage Insurance (PMI). Many programs exist that allow buyers to put down as little as 3% to 5%. Low down payment options are particularly beneficial for first-time homebuyers.

The ability to get a mortgage depends on the specific program being applied for, as different programs maintain different requirements. Guardian offers portfolio programs, which consist of loans the bank makes using its own funds. Even if a credit score falls below standard thresholds, financing may still be available through these programs. You have to have a conventional mortgage loan in this scenario.

1. Homeownership is affordable. You could buy a home with 3% down.
2. A pre-qualification letter is more than just paperwork; it demonstrates to sellers that the individual is a serious buyer. A pre-qualification letter is completed before a property is identified. If the property has already been identified, then a pre-qualification application would be used instead. Pre-qualification letters and pre-qualification applications are different.  It is vital to ensure the physical address of the home being offered is listed directly on the pre-qualification letter.

There are many people involved in the process. 

The buying agent: The customer’s realtor who assists the buyer. 

The listing agent: The realtor representing the seller who sold the home. 

The title/escrow professionals: These individuals act as a neutral third party to ensure all legal requirements are met for the transaction, confirming that the sellers are authorized to sell, the buyers are authorized to purchase, and the property is legally eligible to be sold.

The appraisers: These professionals conduct “comps” (comparables) by evaluating the house against nearby properties to ensure the home is appropriately valued and sold for a reasonable price.

The inspectors: These individuals perform a visible inspection of the house. Inspections are not mandatory and, if a buyer chooses to have one performed, the cost is the buyer’s responsibility rather than a bank-required expense.