Family-Run Mortgage Lender in Edwardsville, IL

Get pre-approved. It takes about 12 minutes, it costs nothing, and it tells you exactly what you can spend before you tour a single house. You'll come away with a letter you can attach to an offer, so when you find the right place you're ready to move the same day instead of scrambling for financing.

Illinois, Indiana, Missouri, Wisconsin, and Florida. We have offices in Edwardsville IL, Oakbrook Terrace IL, and Lake Geneva WI, and we serve the surrounding markets including the Metro East, the greater St. Louis area, Walworth County, and Chicago's western suburbs. If you're buying outside those states, tell us and we'll point you somewhere reputable.

You get a person, not a portal. Chris Brown started this company and three of his children work in it, so the people handling your file are the people who own the business. Nobody passes you to another department. And listing agents in these markets know our letters mean the work is already done, which matters when your offer is one of several.

No. Getting pre-approved is free and carries no obligation. Loan costs like appraisal, title, and origination come later in the process, and we'll give you a written Loan Estimate breaking every one of them down before you commit to anything. If a lender won't show you that itemized sheet up front, ask why.

Most purchase loans close in 30 to 45 days from accepted contract, and we can move faster when a seller needs it. The single biggest factor is how quickly documents come back to us. Buyers who send everything in the first week almost always close on time.

No, and this myth costs people years of waiting. VA and USDA loans can require nothing down for buyers who qualify. FHA starts at 3.5%. Conventional loans can start at 3% for first-time buyers. Twenty percent isn't a requirement, it just lets you skip mortgage insurance. We'll run the real math on your situation.

Often, yes. Conventional loans generally start around a 620 score, FHA can go as low as 580 with 3.5% down, and VA loans have no set minimum though most lenders look for 580 or better. If you're below those numbers, we'll tell you which specific item is holding you back and roughly how long it takes to fix. Plenty of our clients get approved on the second try.

The Loan Estimate is a standard form your lender is required to provide within three business days of receiving your application. It gives you a clear breakdown of your estimated interest rate, monthly payment, and closing costs. It replaced the older Truth-in-Lending statement and Good Faith Estimate.

In the mortgage industry, we use co-borrowers more often than co-signers. That means your parents would go through the full application process and qualify alongside you. Each investor has its own policy on this, so talk with your Brown loan advisor to make sure you follow the right guidelines for your loan.

The number one tip: don't pack your personal papers. Mortgage loans require precise documentation from you, so keep your financial records with you until your loan closes.

Know the exact details of your relocation package. A few questions to ask your employer:

• Will the company buy your current home or issue an equity advance?
• If your home doesn't sell, will the company make your payments until it does?
• Will the company pay closing costs on your purchase? If so, will they advance the funds or reimburse you after closing?

Keep copies of any advance checks and all documentation about your move. It's much easier to hold on to extra paperwork than to hunt for it when you're trying to close.

The easiest way is to get your Certificate of Eligibility (COE) from the U.S. Department of Veterans Affairs. Your Brown loan advisor can often request it for you, or you can apply online at VA.gov.

When you're discharged, you receive an important document called a DD-214. You can also mail a copy of it with VA Form 26-1880 (Request for a Certificate of Eligibility) to the VA, which typically responds within a few weeks.

It isn't a law, it depends on investor rules. FHA, VA, and many state housing programs require an escrow (impound) account on every loan they insure or guarantee. On other loans, you may be able to waive it if you prefer, subject to review and approval.

Interest rates come from a complex mix of economic factors, the bond market, the Federal Reserve, and investor and consumer demand. Rates often trend up or down over long periods, but on some days they can swing sharply, just like the bond market. Ask your Brown loan advisor anytime you want a read on the market.

Constantly. Rates move with the market throughout the day. Once you lock your rate, it won't increase as long as you close your loan before the rate lock expiration date.

Taking good care of your credit is rewarded with a lower interest rate. Your credit score, loan-to-value ratio, and how you'll occupy the property (primary home, second home, or investment) all factor into your rate.

One point equals 1% of your loan amount. Like interest rates, point pricing can vary. You can buy your interest rate down to a lower rate by paying more points upfront.

With a buy-down, the buyer or seller pays an amount upfront to reduce the interest rate, either for the first part of the loan term or for the entire term. Buy-downs can be temporary or permanent.

Locking commits you to a specific loan with a guaranteed rate and fees. Once locked, your rate won't change as long as you close on or before the lock expiration date.

Floating means no rate is guaranteed. Everything you've been shown is an estimate, and your rate moves with the market until you decide to lock.

Your real estate agent will usually call you. Occasionally, your settlement agent will reach out directly to arrange your signing.

Plan on 45 minutes to one hour for your signing appointment.

Once your loan documents are received and your closing instructions are prepared, contact your Brown loan advisor. They'll confirm the exact amount of funds you'll need to close.

Bring a valid driver's license, state ID, or passport, plus a cashier's check if your funds weren't already wired. Confirm whether a cashier's check or a wire is required before you withdraw any funds.

Your settlement agent will walk you through every document, including:

• All loan documents prepared by your lender
• Closing instructions with the terms of sale from your purchase contract
• Your Closing Disclosure
• The preliminary title report and any required property reports or inspections

You'll leave with a complete package of everything you signed so you can review it at home. If questions come up afterward, contact your settlement agent or your Brown loan advisor.

The day your loan closes, the deed records with the county and you officially become the owner of your home. It can take six to ten weeks from that date for the County Recorder to mail you the original signed and recorded deed. Keep copies of your signed loan documents and anything you receive in the mail in a safe place.