What is Day 1 Certainty?
Karen Kreutziger | Chief Operations Officer
Use Day 1 Certainty to get pre-qualified and close your loan faster!
Flat Branch Home Loans uses Day 1 Certainty to pre-qualify our borrowers faster and with less documentation. Day 1 Certainty is Fannie Mae’s initiative to use automation instead of requiring documentation from borrowers, which allows us to pre-qualify and close our loans quickly and efficiently.
How does it work?
FBHL utilizes a third party automated system to verify your income. When your income is approved for Day 1 Certainty, we can determine the amount of mortgage you qualify for immediately and close your loan without needing copies of paystubs, W2s or tax returns. This means less paperwork for you and a faster, more efficient closing.
We also use a third party system approved by Fannie Mae and your banking institution to verify assets. When utilizing this system, we can verify current balances immediately without you having to send in bank statements or retirement account paperwork. We can validate your down payment and approve your assets for closing with the click of a button.
In an effort to lower closing costs, Fannie also allows us to verify some property values automatically; not requiring an appraisal. Knowing your property value is supported upfront without the cost of an appraisal is another way Day 1 Certainty allows us to streamline the mortgage process. Not all properties will qualify, but we can let you know right away if this is an option for you.
We want you to be certain from day one that your income, assets and property value are approved, so you can focus on finding your dream home with confidence. For more information on the Day 1 Certainty program contact one of our senior mortgage bankers here at Flat Branch Home Loans.