The Road To

Home Ownership

GetPre-Approved

Arivian Financial

Make AnOffer

Accepting AnOffer

Open Title &Escrow

Arivian Financial

AppraisingProperty

Arivian Financial

Secure

Homeowner

InsuranceArivian Finacial

Find YourHOME!

Find YourHOME!

HomeInspection

HomeInspection

Sign LoanDocs!

Sign LoanDocs!

Get KeysTo Home!Get KeysTo Home!

YIELD

Final SubmissionTo Underwriting

Final SubmissionTo Underwriting YIELD

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Getting Pre-Approved To Buy

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• Your loan-to-value ratio (LTV)

• Your debt-to-income ratio

Loan Application Checklist

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Provide copy of Drivers License(s) and Social Security Card(s).

Provide copy of most recent paystub(s) covering a 30 day period. Provide W-2’s for the prior 2 years.

Provide name, phone number & policy number for current Homeowner Insurance coverage.

Provide copy of sales and purchase agreement.

Provide copy of most recent 2 months bank statements (ALL PAGES) to verify funds to close.

Purchase

Finding The Right Home

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Searching for the right house can be fun. But it’s a choice you’ll want to make carefully since you’ll likely be living with it for years to come. Consider the following:

LocationYou know the cliché about the three most important factors in real estate being location, location and location? There’s a lot of truth to that. Your

located in the right area. That means in an area where most of the homes are in your price range, and hopefully

where you are reasonably close to your work. Drive or walk around the neighborhood to get a feel for your proximity to public transit, grocery stores and other services. If you have children, make sure you thoroughly research the schools in the area.

The home’s featuresThink carefully about the features that are important to you, such as: Number of bedrooms, yard and

structure and layout, not the decor. The sellers will take their belongings with them, and it’s relatively

Separating needs and wants

your agent focus the search. If you need four bedrooms, there is no need to waste time visiting a

have more options.

Make notes, take photosOnce you’ve seen a dozen or more houses – especially if you visit several in one day – details will blur

home you’re considering, and ask the seller if you can snap photos or shoot some video during your walk-through to help jog your memory later. Once you’ve narrowed your choices, ask your agent to arrange second showings, during which you can make an even more detailed comparison.

Making An Offer On The Home

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What Happens In Escrow?

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Escrow Flow Chart

PRELIMINARY TITLEREPORT ORDERED

ESCROW IS OPENEDEARNEST MONEY DEPOSITED

BUYER & SELLER ENTERINTO A SALES AGREEMENT

PRELIMINARY TITLE REPORTRECEIVED, REVIEWED, SENT TO

APPROPRIATE PARTIES

ESCROWOPENING

FINANCING IS PROCESSED FORFINAL LOAN APPROVAL

LOAN DOCUMENTS ARE ORDEREDBY MORTGAGE BROKER

(IF APPLICABLE)

LOAN DOCUMENTS ARE PREPAREDAND FORWARDED TO ESCROW

RECEIVE AND REVIEW RETURNEDINFORMATION FROM THE LIEN

HOLDERS HOMEOWNERSASSOCIATION, ETC.

APPLICATION IS MADE FOR NEWLOAN, IF NOT PRE-APPROVED

ESCROW OFFICER ORDERS PAYOFFDEMANDS, HOMEOWNER ASSOC.

INFO., & ANY OTHER LIENS.TAXES REVIEWED & ANY OTHERREQUIREMENTS SHOWN ON THE

PRELIMINARY TITLE REPORTARE DEALT WITH

ESCROW RECEIVES LOAN DOCUMENTSAND WORKS UP FILE AND PREPARES

CLOSING DOCUMENTS

ESCROW CALLS BUYERS AND SELLERSFOR APPOINTMENT TO SIGN

NEXT

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Escrow Flow Chart - Cont’d

ESCROWCLOSING

BUYERS AND SELLERS SIGN ALLDOCUMENTS AND BUYERS DEPOSIT

FUNDS TO CLOSE

LENDER CALLS ESCROW AND RELEASES FILEFOR RECORDING AND WIRES

LENDERS LOAN FUNDS

ESCROW RELEASES DEED AND TRUST DEEDFOR RECORDING

LENDER REVIEWS DOCUMENTS(24-72 HOURS TURNAROUND)

LOAN DOCUMENTS ARE RE-PACKAGED WITHESCROW DOCUMENTS AND RETURNED TO

THE LENDER FOR REVIEW

FUNDS ARE RECEIVED FROM LENDER,FILE IS THEN DISBURSED.

ESCROW FILE IS CLOSED WHEN ALL FUNDS AREDISBURSED AND DOCUMENTS ARE RECORDED.

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Why You Need Title Insurance!

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What To Know About Home Inspections

Did Your Home Inspector Check the Essentials?A home buyer does not close escrow without hearing about the need for a home inspection. But what does a home inspection report disclose? Home buyers are often clueless about home construction and its components, and have difficulty deciphering home inspection reports.

General Home Inspection Checklist ItemsStructural Elements.

Construction of walls, ceilings, floors, roof and foundation.

Exterior Evaluation. Wall covering, landscaping, grading, elevation, drainage, driveways, fences, sidewalks, fascia, trim, doors, windows, lights and exterior receptacles.

Roof and Attic. Framing, ventilation, type of roof construction, flashing and gutters. It does not include a guarantee of roof condition nor a roof certification.

Plumbing. Identification of pipe materials used for potable, drain, waste and vent pipes. including condition. Toilets, showers, sinks, faucets and traps. It does not include a sewer inspection.

Systems and Components. Water heaters, furnaces, air conditioning, duct work, chimney, fireplace and sprinklers.

Electrical. Main panel, circuit breakers, types of wiring, grounding, exhaust fans, receptacles, ceiling fans and light fixtures.

Appliances. Dishwasher, range and oven, built-in microwaves, garbage disposal and, yes, even smoke detectors.

Garage. Slab, walls, ceiling, vents, entry, firewall, garage door, openers, lights, receptacles, exterior, windows and roof.

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What To Know About Home Inspections

Cont’d

Home Inspection Checklist Items Needing Service

Home inspection reports do not describe the condition of every component if it's in excellent shape, but should note every item that is defective or needing service. The serious problems are:

Health and safety issues

Roofs with a short life expectancy

Furnace / A/C malfunctions

Foundation deficiencies

Moisture / drainage issues

Home Inspection Checklist Items Sellers Should FixIf you have a choice, it is smarter to hire your own contractors and supervise repairs. Before issuing a formal request to repair, consider the seller's incentive to hire the cheapest contractor and to replace appliances with the least expensive brands.

Although home inspectors are reluctant to and, in many cases, refuse to disclose repair costs, call a contractor to determine the scope and expense to fix minor problems yourself. No home is perfect. Every home will have issues on a home inspection. Even new homes.

A repair issue that will be a deal breaker for a first-time home buyer, causing the buyer to cancel the contract, will not faze a home buyer versed in home repair. Talk to your agent, family, friends and call a few contractors to discuss which types of defects are minor. Perhaps a simple solution is available such as replacing a $1.99 receptacle, which can resolve many outlet problems.

Pat yourself on the back, too, for getting a home inspection. Some buyers feel a home inspection is unnecessary, especially if they are buying new construction. If a light switch doesn't work or the air conditioner blows out hot air, those are problems you can see and test. The problems that aren't readily identifiable to you such as code violations, a furnace that leaks carbon monoxide or a failing chimney, are the types of defects a home inspector could identify in a new home. Builders' contractors make mistakes, too.

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Myths & Facts About Appraisals

Myths and Facts about Appraisals

Myth: The primary purpose of an appraisal is to make sure the buyer doesn't pay too much for the house.

Fact: An appraisal provides valuable information for the buyer and the seller, but the appraiser's primary mission is to protect the lender. Lenders don't enjoy owning overpriced property any more than they relish lending money to irresponsible borrowers. That's why the appraisal takes place before the lender grants final approval of the buyer's loan.

Myth: Appraisers use a specific formula (e.g., price per square foot) to figure out exactly how much each home is worth.

Fact: Appraisers weigh the location of the home, its proximity to desirable schools and other public facilities, the size of the lot, the size and condition of the home itself and recent sales prices of comparable properties, among other factors.

Myth: Appraisers have no obligation to reveal home defects to buyers.

Fact: If the buyer is applying for a mortgage that will be insured by the Federal Housing Administration (FHA), the appraiser must survey the physical condition of the home and disclose potential problems to the buyer. No such obligation exists for non-FHA mortgages.

Myth: An appraisal is identical to a home inspection.

Fact: The new FHA disclosure requirement notwithstanding, an appraisal isn't a substitute for a professional home inspection. The appraiser formulates an opinion of the property's value for the lender, while the inspector educates the buyer about the condition of the home and its major components.

Myth: If the appraiser's opinion of value is lower than the purchase price, the buyer won't be able to purchase the home.

Fact: A transaction can sometimes survive a "low" appraisal if the seller reduces the purchase price, the buyer makes a hefty downpayment or a separate escrow account is set up to fund repairs that will increase the value of the home. On rare occasions, an appraiser will reconsider his or her opinion if new evidence supports a higher valuation.

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The Lending Process

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Arivian Lending Guarnatee

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A New Light On LendingGuarantee

The Arivian Financial Group new light on lending guarantee is a commitment to you our valuedcustomer. As you consider which mortgage company to trust with your transaction, remember theseare the items that make Arivian Financial Group a trustworthy solution to your mortgage needs.

Origination Fee Guarantee:We guarantee that the origination fee you pay at your closing willnot exceed what was disclosed to you on your Good Faith Estimate, or we will refund youDOUBLE the difference! (GFE Line #801)Free Pre-Approval: As a direct lender, we do not feel it is necessary to charge an applicationfee. We guarantee you will not be forced to pay a fee just to evaluate your lending options.Service Guarantee: Consistent communication and a high level of service is our top priority.To prove our commitment, if your mortgage doesn’t close on time because of something wefailed to do, we will refund you $250.

Arivian Financial Group is honored at the opportunity to earn your business and will show you “A NewLight On Lending.”

Licensed by the Department of Corporations under the California Residential Mortgage Lending Act (#413-0928). WA Consumer Loan License #520-CL-41528. Oregon Mortgage Lender License # ML-4497. Interest ratesubject to change until the loan is locked. Estimated Closing Costs subject to change with change in loanamount, interest rate or subject property address.A new Guarantee GFE will be reissued upon changes.

Sincerely,

Arivian Management Team

At Arivian Financial Group, we are committed to creating life-long clients through excellent service and offering the most competitive lending options in the industry. We take great pride in serving the unique needs of each individual’s situation. You may close your loan with us because of our great rate comparisons, but we are confident that you will come back to us because of our service guarantee.

Banker vs. Broker

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Arivian Financial Group is a Mortgage Bank. What does this mean to you and your clients?

Many consumers assume that “mortgage companies” are banks that lend their own money. In fact, a company that you deal with may be either a mortgage banker or a mortgage broker. A mortgage banker is a direct lender; it lends your clients its own money, although it often sells the loan to the secondary market. Mortgage bankers sometimes retain servicing rights as well.

A mortgage broker is a middleman; they do the loan shopping and analysis and puts the lender and borrower together. Many of the lenders through which the broker finds loans do not deal directly with the public.

Using a mortgage banker can save the fees of a middleman and can make the loan process easier. A mortgage banker can give your client a direct loan approval, whereas a broker gives you information second-hand. A mortgage broker charges a large “broker fee” for service, but has information about a wide range of loan programs.

Here are some other advantages of working with a Mortgage Banker: • All loans are handled in house from approval to funding. • Direct communication with Underwriters and Funders • Higher level of service and communication with all loans in house. • Local Portland/Vancouver Branch. • You and your clients do not have to sacrifice service, for low rate.