Why should I get a Low-Cost Mortgage? 

When you are shopping for a mortgage for your new home, or you are planning to refinance your existing mortgage, you may find that some lenders charge thousands of dollars in upfront costs. This practice can force you to bring significantly more cash to the closing table than you anticipated. Lenders often charge these fees to make their rates seem more attractive while passing on their operational expenses to you.

At Saffron Premier Mortgage, we believe we can offer competitive rates without passing on these costs to you. We leverage cutting edge technology to automate the underwriting process to give you faster approvals and greater savings. We are committed to keeping your total closing costs as low as possible.

Offer Terms (up to a $7,500 Value)

Fees We Will Not Charge At Closing:

1. Origination Fee (up to a $3,000 value)

2. Underwriting Fee (up to a $1,250 value)

3. Processing Fee (up to a $750 value)

4. Title & Settlement Fees (up to a $2,500 value) - Refinance Only*

5. Discount Points Required (varies)**

Application Process

Step 1: Click the "Apply Now" link above and create an account using the ARIVE portal. Complete the full loan application. Please provide as much detail as you can. If you have any questions, please set up an appointment with a loan officer using the contact link above.

Step 2: The application will request that you authorize and consent to a credit inquiry. There is no upfront charge for the credit inquiry. We will perform a hard credit inquiry with the following credit bureaus (Experian, Equifax, TransUnion) within 3 business days of your application submission.  If you have any credit security freezes in place with those bureaus, please lift them or schedule a thaw accordingly.

Step 3:  Your loan officer will be assigned to you, and you will be asked to upload a few documents to verify your eligibility through the ARIVE portal.

Step 4: Your loan officer will prepare an initial disclosure package which will contain a formal loan estimate. If you would like to proceed with the application, you will need to electronically sign these disclosures. Please keep in mind the rates, terms, and fees cannot be guaranteed until you lock your rate. 

Step 5: Your loan officer will advise you if an appraisal is required for your property. If you qualify for an appraisal waiver, you may request to lock your rate immediately. If your property requires an appraisal, Saffron Premier Mortgage will collect payment for the appraisal prior to locking your rate. The cost of the appraisal will vary based on the type of the property, loan product, and your eligibility. Appraisal fees are not refundable. You will receive a copy of your appraisal report upon successful completion.

Step 6: Based on appraisal findings, final rate lock pricing, and your stated preferences, your loan officer may make changes to your loan application. Your application will be submitted for final underwriting review. If you are approved, you will be sent a closing disclosure with a final summary of your refinance application.

Step 7: Your loan officer will coordinate with you to schedule your closing. For purchase transactions, you may have the opportunity to sign documents in person at a title office or using a mobile notary at a location convenient to you. This depends on the title provider selected. For refinance transactions, you will electronically sign your final loan documents with a virtual notary over a video call.

Step 8: You will receive confirmation that your loan has funded and receive instructions to set up your new online account.

This entire process can be completed in as little as 1-2 weeks. You can accelerate the process by following the "Accelerate My Application" instructions below.

Limitations

Property Location: Property must be located in the state of Washington (WA).

Property Type:  Property must be a Single-Family Home (SFH), Townhome, or Planned Unit Development (PUD). Condominiums and Multi - Family properties will be accepted on a case-by-case basis and may require a processing and underwriting fee to review HOA policies, master insurance, and CC&Rs etc. 

Property Occupancy: Property must be used as a primary residence. Investment properties will be accepted on a case-by-case basis and may require a processing and underwriting fee to review rental income, lease agreements, and eligibility.

Minimum Loan Amount ($300,000): Some of the pricing incentives shown are calculated as a percentage of the loan amount. As a result, we can only structure these incentives on loans greater than $300,000. If you require a loan that is less than this amount, you are still welcome to submit an application, and we will work with you to explore options.

Loan Product Type (Conventional & Jumbo Only): Incentives offered for government loans such as FHA, VA, and USDA will vary based on government requirements and regulations. 

Minimum Qualifying FICO Score (700): Incentives in this offer are based on Conventional Elite Product Pricing. Borrowers who don't meet this requirement are welcome to apply. We will work with you to explore loan options including potential credit repair opportunities. Saffron Premier Mortgage cannot guarantee eligibility.

Total Debt to Income Ratio (<45%): If you are unsure whether you will qualify, please submit your application and reach out to your loan officer for additional guidance. We may be able to document additional income, exclude certain liabilities, pay off high-interest debt as part of your refinance, or explore different loan products. Saffron Premier Mortgage cannot guarantee eligibility.

Residency Requirements: All applicants must be US Citizens, US Permanent Residents or Visa Holders (contact your loan officer for a full list of acceptable visas). At this time Saffron Premier Mortgage does not accept applications from Foreign Nationals, or borrowers using an ITIN.

Accelerate Your Application

Obtaining these documents in advance can help speed up your closing timeline. Please have the following documents ready to upload in pdf format. Documents cannot be edited. Screenshots are not acceptable. All pages (including blank pages) must be submitted.

1. Proof of identity (for all applicants) - Copy of your state ID or driver's license. Ensure that the address on this ID is current.

2. Proof of residency (for all applicants) - Copy of US Passport, Permanent Resident Card, or Valid Visa

3. Copy of latest mortgage statement - You should be able to obtain this from your online portal. This statement should contain your name, the subject property address, lender name & contact info, and loan number. 

4. Current mortgage payoff letter - Contact your current mortgage lender and request a "payoff letter" effective on your desired closing date. This payoff letter will contain the final payoff amount of your current mortgage inclusive of all pro-rated interest charges and fees. Some lenders allow you to request this online, others require you to contact their support team.

5. Home insurance declarations page - Contact your current home insurance company and ask them for your current insurance documents. Some companies call this a (declarations page / insurance binder / evidence of insurance). This document should list your coverages, deductibles, and annual premium. It should also include your name and the subject property address.

6. Verification of property taxes - Please provide a copy of your most recent property tax payment or property record from your county's website.

7. Verification of HOA dues (if applicable) - If your property has an HOA, please provide a copy of the most recent billing statement.

8. Link to your property on Zillow or Redfin - If some information about your property cannot be found, or if your address is a new construction property, or if multiple homes in your neighborhood have similar unit numbers this can help us quickly locate the MLS record of your property.

Exclusions & Disclaimers

The content provided is presented for information purposes only. All loans are subject to credit approval. Not all borrowers will meet the requirements necessary to qualify. Information, rates and terms are subject to change based on market conditions, borrower eligibility and without notice. Any offer is subject to verification of borrower qualifications, property evaluations, income verification and credit approval. This is not a commitment to lend or extend credit. Certain restrictions may apply, call for details. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by the Lender. Interest rates and products are subject to change without notice and may or may not be available at the time of commitment or lock-in. Every person’s situation is unique, and the program may vary based on eligibility. Not all applicants will qualify, and your savings will vary. As a result of refinancing, your total finance charges may be higher over the life of the loan. A low-cost mortgage product is designed to lower your closing costs. You may be able to obtain a lower interest rate by selecting a mortgage product with higher closing costs.

*We will use a title partner to review and confirm your property's eligibility.

**We will show you at least one loan option that does not require you to pay any discount points. You may be able to get a lower interest rate by paying points to buy down your rate further.

Saffron Premier Mortgage LLC is an equal housing lender.