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  • FIRST TIME BUYERS PROGRAM
    We offer the Lowest Rates possible with as little as 3% down.
    To get a COUPON worth $500 on your next home mortgage - purchase, refinance or reverse mortgage from White Star Wholesale Mortgage, click on the link below, give us your name and email address and we'll send you a coupon.

    Then call Greg Zagorac with the phone number on your coupon to activate it and Greg will get you a quote with our current low rates.

    This is a limited time offer so click here and call today!
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  • SAME DAY PRE-APPROVAL
    We'll find the perfect loan program and get you Pre-Approved…FAST.
    Call us for today's low rates
    Contact
    Greg Zagorac
    today!

    844-594-4837
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  • VA LOANS
    Zero down and reduced settlement costs for qualified Military Veterans.
    Call us for today's low rates
    Contact
    Greg Zagorac
    today!

    844-594-4837
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  • U.S.D.A. LOANS
    Leave the city behind with Zero Down Payment for qualifying properties.
    Call us for today's low rates
    Contact
    Greg Zagorac
    today!

    844-594-4837
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  • REAL ESTATE INVESTOR LOANS
    Loan programs for building a secure future as a landlord.
    We can close your loan in as little as two weeks
  • Options for every stage of your life
    Mortgages
    Buying your first home or moving up to a larger home for your growing family? White Star Wholesale Mortgage offers you the best fees and lowest rates in Pennsylvania...guaranteed!
    Refinancing
    Whether you want to get a lower interest rate, shorten your existing term, tap into your home's equity or simply consolidate debt, White Star Wholesale Mortgage will customize the perfect solution for you.
    Reverse Mortgages
    With a reverse mortgage, homeowners 62 and older receive a loan backed by the equity in their homes. The lender isn’t repaid until the person is no longer living in the home or dies.
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    REALTORS CLICK HERE
  • LOAN PROGRAMS
    LOAN PROCESS
    MORTGAGE BASICS
    MORTGAGE CALCULATOR
  • LOAN PROGRAMS
    Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer.
    LEARN MORE
  • LOAN PROCESS
    There are five steps in the loan process: Determine how much you can borrow, select the right loan program, apply for the loan, begin loan processing and close the loan.
  • MORTGAGE BASICS
    From application to closing, and everything in between, we provide the information you need to know about mortgages.
  • MORTGAGE CALCULATORS
    We provide tools to help you calculate a wide range of variables related to loan programs, including mortgage payments, income needed to qualify, amortization, tax benefits, APR, buy vs rent advantages, etc.
    LEARN MORE
  • LOAN PROGRAMS
    What kind of loan program is best for you?
    Should you get a fixed-rate or adjustable rate mortgage? A conventional loan or a government loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer. Explore various loan programs by using the links below.
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    FOR MORE INFO
    Fixed Rate Mortgages (FRM)
    The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.

    Fixed Rate Mortgages (FRM)
    Adjustable Rate Mortgages (ARM)
    Hybrid ARMs
    FHA Loans
    VA Loans
    Components of an ARM
    Reverse Mortgage
    Adjustable Rate Mortgages (ARM)
    Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.

    Hybrid ARMs (3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM)
    Hybrid ARM mortgages combine features of both fixed-rate and adjustable rate mortgages and are also known as fixed-period ARMs.

    HARP 2.0
    HARP 2.0 is a refinance option for homeowners that are "underwater," meaning they owe more on their home than their home is worth.

    FHA Loans
    FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.

    VA Loans
    VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of home ownership.

    Components of an ARM
    Prior to choosing a home loan, you should know the advantages and risks of adjustable-rate mortgages to make an informed, prudent decision.

    Reverse Mortgages
    Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.

    APPLY NOW
  • LOAN PROCESS
    What happens during the process of getting a loan?
    Applying for a loan can be overwhelming for some borrowers, especially if they are first time home buyers. Understanding the steps involved in the loan process will help make the whole experience go more smoothly. The links below left will outline each step. More information about the loan process is provided to the right.
    Find out how much you can borrow
    The first step in obtaining a loan is to determine how much money you can borrow.  In case of buying a home, you should determine how much home you can afford even before you begin looking. By answering a few simple questions, we will calculate your buying power, based on standard lender guidelines.

    You may also elect to get pre-approved for a loan which requires verification of your income, credit, assets and liabilities.  It is recommended that you get pre-approved before you start looking for your new house so you can: 
    1. look for properties within your range.
    2. be in a better position when negotiating with the seller (seller knows your loan is already approved).
    3. close your loan quicker.

    More on Pre-Qualification

    LTV and Debt-to Income Ratios
    LTV or Loan-To-Value ratio is the maximum amount of exposure that a lender is willing to accept in financing your purchase. Lenders are usually prepared to lend a higher percentage of the value, even up to 100%, to creditworthy borrowers. Another consideration in approving the maximum amount of loan for a particular borrower is the ratio of monthly debt payments (such as auto and personal loans) to income. Rule of thumb states that your monthly mortgage payments should not exceed 1/3 of your gross monthly income. Therefore, borrowers with high debt-to-income ratio need to pay a higher down payment in order to qualify for a lower LTV ratio.

    FICO™ Credit Score
    
FICO™ Credit Scores are widely used by almost all types of lenders in their credit decision. It is a quantified measure of creditworthiness of an individual, which is derived from mathematical models developed by Fair Isaac and Company in San Rafael, California. FICO™ scores reflect credit risk of the individual in comparison with that of general population. It is based on a number of factors including past payment history, total amount of borrowing, length of credit history, search for new credit, and type of credit established. When you begin shopping around for a new credit card or a loan, every time a lender runs your credit report it adversely effects your credit score. It is, therefore, advisable that you authorize the lender/broker to run your credit report only after you have chosen to apply for a loan through them.

    Self Employed Borrowers

    Self employed individuals often find that there are greater hurdles to borrowing for them than an employed person. For many conventional lenders the problem with lending to the self employed person is documenting an applicant's income. Applicants with jobs can provide lenders with pay stubs, and lenders can verify the information through their employer. In the absence of such verifiable employment records, lenders rely on income tax returns, which they typically require for 2 years.

    Source of Down Payment
    
Lenders expect borrowers to come up with sufficient cash for the down payment and other fees payable by the borrower at the time of funding the loan. Generally, down payment requirements are made with funds the borrowers have saved. If a borrower does not have the required down payment they may receive “gift funds” from an acceptable donor with a signed letter stating that the gifted funds do not have to be paid back.

    1. Find out how much you can borrow
    2. Select the right loan program
    4. Begin loan processing
    5. Close your loan
    Select the Right Loan Program
    Home loans come in many shapes and sizes. Deciding which loan makes the most sense for your financial situation and goals means understanding the benefits of each.  Whether you are buying a home or refinancing, there are 2 basic types of home loans. Each has different reasons you'd choose them.

    1) Fixed Rate Mortgage
    Fixed rate mortgages usually have terms lasting 15 or 30 years. Throughout those years, the interest rate and monthly payments remain the same.  You would select this type of loan when you:
    • Plan to live in home more than 7 years
    • Like the stability of a fixed principal/interest payment
    • Don't want to run the risk of future monthly payment increases
    • Think your income and spending will stay the same

    2) Adjustable Rate Mortgage
    Adjustable Rate Mortgages (often called ARMs) typically last for 15 or 30 years, just like fixed rate mortgages. But during those years, the interest rate on the loan may go up or down. Monthly payments increase or decrease.  You would select this type of loan when you:
    • Plan to stay in your home less than 5 years
    • Don't mind having your monthly payment periodically change (up or down)
    • Comfortable with the risk of possible payment increases in future
    • Think your income will probably increase in the future

    By carefully considering the above factors and seeking our professional advice, you should be able to select the one loan that matches your present condition as well as your future financial goals.

    Begin loan processing
    Although lenders conform to standards set by government agencies, loan approval guidelines vary depending on the terms of each loan. In general, approval is based on two factors: your ability and willingness to repay the loan and the value of the property. Once your loan application has been received we will start the loan approval process immediately. Your loan processor will verify all of the information you have given. If any discrepancies are found, either the processor or your loan officer will troubleshoot to straighten them out.  This information includes:

    Income/Employment Check
    Is your income sufficient to cover monthly payments?  Industry guidelines are used to evaluate your income and your debts.

     Credit Check
    What is your ability to repay debts when due?  Your credit report is reviewed to determine the type and terms of previous loans. Any lapses or delays in payment are considered and must be explained.

    Asset Evaluation
    Do you have the funds necessary to make the down payment and pay closing costs?

      Property Appraisal
    Is there sufficient value in the property? The property is appraised to determine market value. Location and zoning play a part in the evaluation.

      Other Documentation
    In some cases, additional documentation might be required before making a final determination regarding your loan approval. In order to improve your chances of getting a loan approval:
    1. Fill out your loan application completely. You may use our online forms to expedite the process.
    2. Respond promptly to any requests for additional documentation especially if your rate is locked or if your loan is to close by a certain date.
    3. Do not move money into or from your bank accounts without a paper trail. If you are receiving money from friends, family or other relatives, please prepare a gift letter and contact us.
    4. Do not make any major purchases until your loan is closed.  Purchases cause your debts to increase and might have an adverse affect on your current application.
    5. Do not go out of town around your loan's closing date. If you plan to be out of town, you may want to sign a Power of Attorney.

    Close your loan
    After your loan is approved, you are ready to sign the final loan documents. You must review the documents prior to signing and make sure that the interest rate and loan terms are what you were promised. Also, verify that the name and address on the loan documents are accurate. The signing normally takes place in front of a notary public.

    There are also several fees associated with obtaining a mortgage and transferring property ownership which you will be expected to pay at closing. Bring a cashiers check for the down payment and closing costs if required. Personal checks are normally not accepted. You also will need to show your homeowner's insurance policy, and any other requirements such as flood insurance, plus proof of payment.

    Your loan will normally close shortly after you have signed the loan documents. On owner occupied refinance loan transactions federal law requires that you have 3 days to review the documents before your loan transaction can close.
    Find out how much you can borrow
    The first step in obtaining a loan is to determine how much money you can borrow.  In case of buying a home, you should determine how much home you can afford even before you begin looking. By answering a few simple questions, we will calculate your buying power, based on standard lender guidelines.

    You may also elect to get pre-approved for a loan which requires verification of your income, credit, assets and liabilities.  It is recommended that you get pre-approved before you start looking for your new house so you can: 
    1. look for properties within your range.
    2. be in a better position when negotiating with the seller (seller knows your loan is already approved).
    3. close your loan quicker.

    More on Pre-Qualification

    LTV and Debt-to Income Ratios
    LTV or Loan-To-Value ratio is the maximum amount of exposure that a lender is willing to accept in financing your purchase. Lenders are usually prepared to lend a higher percentage of the value, even up to 100%, to creditworthy borrowers. Another consideration in approving the maximum amount of loan for a particular borrower is the ratio of monthly debt payments (such as auto and personal loans) to income. Rule of thumb states that your monthly mortgage payments should not exceed 1/3 of your gross monthly income. Therefore, borrowers with high debt-to-income ratio need to pay a higher down payment in order to qualify for a lower LTV ratio.

    FICO™ Credit Score
    
FICO™ Credit Scores are widely used by almost all types of lenders in their credit decision. It is a quantified measure of creditworthiness of an individual, which is derived from mathematical models developed by Fair Isaac and Company in San Rafael, California. FICO™ scores reflect credit risk of the individual in comparison with that of general population. It is based on a number of factors including past payment history, total amount of borrowing, length of credit history, search for new credit, and type of credit established. When you begin shopping around for a new credit card or a loan, every time a lender runs your credit report it adversely effects your credit score. It is, therefore, advisable that you authorize the lender/broker to run your credit report only after you have chosen to apply for a loan through them.

    Self Employed Borrowers

    Self employed individuals often find that there are greater hurdles to borrowing for them than an employed person. For many conventional lenders the problem with lending to the self employed person is documenting an applicant's income. Applicants with jobs can provide lenders with pay stubs, and lenders can verify the information through their employer. In the absence of such verifiable employment records, lenders rely on income tax returns, which they typically require for 2 years.

    Source of Down Payment
    
Lenders expect borrowers to come up with sufficient cash for the down payment and other fees payable by the borrower at the time of funding the loan. Generally, down payment requirements are made with funds the borrowers have saved. If a borrower does not have the required down payment they may receive “gift funds” from an acceptable donor with a signed letter stating that the gifted funds do not have to be paid back.

    APPLY NOW
    CONTACT US
    FOR MORE INFO
    3. Apply for a loan
  • MORTGAGE BASICS
    What is involved in getting a mortgage?
    From application to closing costs, we outline the basics of mortgages, including conventional, FHA, VA and refinance loans. You'll also find a glossary of terms to help you understand mortgage terminology.
    Application Checklist
    Below is a list of documents that are required when you apply for a mortgage. However, every situation is unique and you may be required to provide additional documentation. So, if you are asked for more information, be cooperative and provide the information requested as soon as possible. It will help speed up the application process.

    Your Property
    • Copy of signed sales contract including all riders
    • Verification of the deposit you placed on the home
    • Names, addresses and telephone numbers of all realtors, builders, insurance agents and attorneys involved
    • Copy of Listing Sheet and legal description if available (if the property is a condominium please provide condominium declaration, by-laws and most recent budget)

    Your Income
    • Copies of your pay-stubs for the most recent 30-day period and year-to-date
    • Copies of your W-2 forms for the past two years
    • Names and addresses of all employers for the last two years
    • Letter explaining any gaps in employment in the past 2 years
    • Work visa or green card (copy front & back)

    If self-employed or receive commission or bonus, interest/dividends, or rental income:
    • Provide full tax returns for the last two years PLUS year-to-date Profit and Loss statement (please provide complete tax return including attached schedules and statements. If you have filed an extension, please supply a copy of the extension.)
    • K-1's for all partnerships and S-Corporations for the last two years (please double-check your return. Most K-1's are not attached to the 1040.)
    • Completed and signed Federal Partnership (1065) and/or Corporate Income Tax Returns (1120) including all schedules, statements and addenda for the last two years. (Required only if your ownership position is 25% or greater.)

    If you will use Alimony or Child Support to qualify:
    • Provide divorce decree/court order stating amount, as well as, proof of receipt of funds for last year

    If you receive Social Security income, Disability or VA benefits:
    • Provide award letter from agency or organization

    Source of Funds and Down Payment
    • Sale of your existing home - provide a copy of the signed sales contract on your current residence and statement or listing agreement if unsold (at closing, you must also provide a settlement/Closing Statement)
    • Savings, checking or money market funds - provide copies of bank statements for the last 3 months
    • Stocks and bonds - provide copies of your statement from your broker or copies of certificates
    • Gifts - If part of your cash to close, provide Gift Affidavit and proof of receipt of funds
    • Based on information appearing on your application and/or your credit report, you may be required to submit additional documentation

    Debt or Obligations
    • Prepare a list of all names, addresses, account numbers, balances, and monthly payments for all current debts with copies of the last three monthly statements
    • Include all names, addresses, account numbers, balances, and monthly payments for mortgage holders and/or landlords for the last two years
    • If you are paying alimony or child support, include marital settlement/court order stating the terms of the obligation
    • Check to cover Application Fee(s)
    Application Checklist
    Appraisals
    Closing Costs
    Credit
    Foreclosure
    FHA Loans
    Glossary of Mortgage Terms
    Private Mortgage Insurance (PMI)
    Refinance
    VA Loans
    APPLY NOW
    CONTACT US
    FOR MORE INFO
  • MORTGAGE CALCULATOR
    What will your payment be?
    Using an online mortgage calculator can help you quickly and accurately predict your monthly mortgage payment with just a few pieces of information. It can also show you the total amount of interest you'll pay over the life of your mortgage.

    Click the contact us button below left for a more detailed quote using White Star's actual rates.
    The mortgage calculator (at right) is a simple way to determine what your mortgage payment would be when considering the purchase price, downpayment, term, interest rate and when you expect the loan to begin. Click the Calculate button, then scroll down to see the monthly payment, the total interest you'd pay and a full amortization schedule.
    APPLY NOW CONTACT US
    FOR MORE INFO
Resources
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    White Star Wholesale Mortgage, LLC
    Legal Privacy Policy NMLS# 1435123
    Contact Us
    724-840-1357 greg@whitestarmtg.com Address:
    583 Epsilon Drive
    Pittsburgh, PA 15238
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