My name is Michael J. Szala, President and CEO of Olympus Mortgage, Inc. since 1991. When you work Olympus Mortgage, Inc., you will get the best, most honest service in today's market. I provide a 24-hour, pre-approval certificate so all parties know you are a qualified buyer. When you work with me, you know you can put your trust and confidence in an experienced professional who truly cares. My family depends on it and so can you and your family.
We are ON TOP OF THE MORTGAGE MARKET SINCE 1991!
✔ | 2 Years of Tax Returns, W-2's, and Most Recent Pay Stubs |
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✔ | Two Months of Most Recent Consecutive Bank Statements Checking and/or Savings - All Pages |
✔ | Other Assets - 401K, Stocks, or Other Accounts - Most Recent Statements |
✔ | Current Mortgage Statement (If Applicable) |
✔ | Employment History |
✔ | Personal Information: Picture ID - Driver's License or State ID |
✔ | Purchase Contract (If Available) |
✔ | Loan Application |
✔ | If self-employed: 2 years personal and business tax returns— all schedules and Year-to-Date "Profit and Loss". |
Since 1991, we have prided ourselves on our honesty, expertise, and dedication to our clients.
Some loans will do 100% financing. Another similar loan option is called a piggy-back loan, where you get approved for the first and second mortgage at the same time. FHA loans require only 3% down. No matter which of these types of loans you obtain, the payment will be larger, your interest rate will probably be higher, and you will be required to buy private mortgage insurance (PMI).
Owning a home is often considered the better deal, but keep these considerations in mind:
The mortgage lender will obtain a credit report. If you look at it prior to a loan application, you have a chance to clean up detrimental items before you have to explain them to the mortgage lender. Also, if your score is low, you can do specific things to increase your score such as paying down debt, increasing cash in the bank, and making payments consistently on time, over a period of time.
A mortgage broker covers a broad basis, linking buyers with appropriate mortgage lenders, counseling borrowers, and even processing loans.
A mortgage lender is the institution or agency that will actually loan the money.
A loan officer is an employee of either a mortgage lender or a mortgage broker, generally finding borrowers, counseling, taking applications, and often, being involved in the loan processing.
Points are a fee that is expressed as a percentage of the loan amount: one point is 1% of the loan amount.
Origination points are charged as a fee for some of the costs of the loan processing.
Discount points are basically a prepaid interest, or a fee to reduce the interest rate, known as a rate "buy down."