By purchasing a home instead of renting, you will have a home free and clear once your mortgage is paid off. If you have to pay same monthly payment whether you buy or rent, why not buy? Renting a home will leave you with no evidence of money well spent. How about Tax advantages? Did you know that there are significant tax advantages associate with home ownership such as property tax deduction and interest payment tax deduction?

WEI has a variety of loan products to help make your dream of homeownership a reality.

Your make a decision to purchase a home once your realization of advantages of home ownership kicks in.

1. You find a realtor to work with.
2. Your realtor and you discuss your finance for pre-qualification
3. Consider followings when deciding on your affordability.
   • Mortgage Principle & Interest
   • Property Taxes
   • Hazard Insurance (typically optional for Condo)
   • Homeowner’s Association / Condo Fees
   • Utilities Cost: Water, Electricity, Gas, Telephone, Cable, and etc
4. You Pre-Qualify with your realtor.

What you can afford to buy is based on how much you can afford to pay up front and the relationship between your income, assets, credit, current housing payment, and the home you are buying. Use mortgage calculator to find out what kind of home you can afford preliminary -or- contact loan specialist at WEI to find out more.

Few people can afford to purchase a home without getting a loan. Without the help of a mortgage, in which payments are made over time, home ownership would not be possible for a lot of us. Once you found the home you like, you can start the process of purchasing your home by working with a lender or a broker. Without hesitation, we can say WEI has the most flexible products available in the market. Moreover, our rate is one of the most competitive and our fees are one of the lowest in the market. Needless to say, our service tops our products.

1. Your case gets to submitted to WEI for Pre-Approval
2. You get a preliminary consultation from WEI
3. You and WEI determine the right mortgage program for your scenarios
   • Product Term: Fixed, ARM, Balloon
   • Down Payment Amount
4. WEI Pre-Approves your case for specific loan amount you can borrow
5. You search for a home within the Pre-Approved loan amount
6. You find a home that you wish to purchase

When the process comes near the end, you'll go through the closing otherwise know as the settlement. Only after completing this step, you'll walk away with right (keys) to your new home. At the closing, you may meet with the seller, the lender, the attorneys, a representative of the title company, the real estate agent, and other people who are involved to bind the deal legally.

1. Your realtor drafts a sales contract to present to the seller
2. You sign in the sales contract and send it for seller's agreement
3. Seller agrees and signs the contract, WEI to start your loan process.
   • Buyer and Seller Signed Sales Contract
   • Uniform Residential Loan Application (1003)
   • Payment for the credit report for each borrower and the appraisal
4. WEI and you lock-in the interest rate on the loan
   Note: it can flow. Once lock-in, rate cannot be changed
5. WEI sends you a Good Faith Estimate, Truth in Lending, disclosure documents
   Note: Good Faith Estimate - estimated statement for closing/settlement
6. You submit all required documents to WEI to obtain the loan
7. WEI verify all documents submitted for its authentication
8. Upon verification of all data, WEI order following services
   • Appraisal (Note: Must be appraised for the sales prices)
   • Title search (Note: Must have a clear title)
9. You obtain Insurance & provide WEI its policy and contact info
10. Upon all satisfaction, closing/settlement is scheduled
11. WEI send you an estimated settlement statement
12. You go to settlement with followings
    • 2 IDs - Driver’s License, Social Security Card, Passport, Green Card, Visa
    • Cashier’s Check made to the settlement company in estimation
    • Personal Check to settle between actual and estimated cost
13. You sign in documents for transfer of the title of the property
14. You get a key to your home.

Once you become a homeowner, you should celebrate the ownership. You probably have made one of the biggest purchases and decisions of your life.