(Trophy Sells Houses)

F.A.Q

GENERAL QUESTIONS:

1. What if I am already approved for or desire traditional financing through a bank or another lender?

Great, if you are already approved, then you are ahead of the game. Just let us know who you are pre-approved through and plan on using for financing along with which property you are interested in and we will go from there.

If you are not yet pre-approved, first we will first check to see if you might qualify for traditional financing. If it looks like you may, an independent mortgage specialist will contact you to determine your strategy on traditional financing options.

If it looks like you would not, we will contact you to determine your strategy on TLC/Owner financing options.

CLICK HERE to begin filling out our FREE ONLINE application. Once submitted, usually within 24-48 hours, you will be contacted to let you know the results and go over your various options.

2. How do I reserve a home?

It's SIMPLE, if not yet pre approved for financing simply submit your application completely filled out and be approved.

CLICK HERE to start the process. If already approved, simply contact us to let us know which property you are interested in along with which lender you are approved with and we will go from there.

We will then contact you within 24-48 hours. Please keep in mind our homes sell quickly, so time is of the essence.

CLICK HERE to view our current list of homes for sale.

3. What if I do not like any of your current home inventory but want to stay informed as new homes come available?

Simple, all you have to do is contact us via phone (972.775.0555) or email matt@thetrophygroup.com) and let us know and we will add you to our insider buyer's list.

4. How reputable is The Trophy Group, Trophy Lending Corporation, and it's affiliates?

The Trophy Group is an established full-service residential brokerage firm created to provide real estate solutions one relationship at a time. We are experts in our field and provide support for basically all things real estate related. We have assisted hundreds of clients in an honest and professional manner and continually strive to build lasting, mutually beneficial relationships. Our firm is also licensed, insured, registered, and in good standing with the state of Texas. Here are a few of our local affiliations:

(National Association of Realtors, Metro Tex Board of Realtors, Texas Association of Realtors)

The Trophy Group also operates in conjunction with Trophy Lending Corporation. Trophy Lending Corporation is an independent local company with a proven successful track record helping serve it's client's real estate related needs. TLC has been involved in over 100+ real estate transactions including single family residences, land acquisition, and planned development.

OWNER/TLC FINANCING QUESTIONS:

1. How does the TLC (No Banks Needed) special financing work?

We (TLC) are the bank, so we get to make the final qualification decisions. TLC offers owner financing on our properties where we can sell you the home without you having to qualify the traditional way at a bank, mortgage broker, or lender.

2. How much down payment do I need for TLC'S (No Banks Needed) special financing?

That depends, but we are very flexible with the down payment and offer many options. Typically our clients put 10% down, but we always do our best to work with whatever funds you have available.

3. What other methods of Down payments are accepted besides cash?

You may be eligible to withdraw or borrow from your 401K or IRA to purchase a home

without penalties. (ask one of our mortgage specialists) We’ll also consider most anything on trade such as cars, boats, RV’s, trucks, motorcycles, jewelry, stocks, bonds, etc. We may even consider a “work equity program.” (example: If you’re a carpenter or roofer, etc.)

4. What is the interest rate on your owner financing?

We are flexible with our terms to meet your needs. Typical interest rates range from 7% and up to 12% depending on down payment and application info. All credit is reviewed and an application is necessary to verify income.

5. How fast can I move in?

If you’re buying with the intentions of using TLC's owner financing program, we can usually close and you can own the home as soon as 1 week. (assuming we already have your application/information and you are approved)

If you prefer traditional financing and are already approved or can qualify, the standard time to close and own is typically around 30 days. The time line can shorten considerably, if you are already pre-approved and quickly furnish all necessary documentation to our mortgage specialists.

6. Can I buy a home with no down payment?

Typically not, but it really depends on current traditional lender requirements and if you can qualify for traditional financing.

If you cannot currently qualify for traditional financing, TLC's owner financing programs will require a down payment. The greater the down payment, the better odds you have of being approved and the better loan terms you will get.

7. What determines whether I can buy with owner financing?

After reviewing your application, we can determine this for you. Typically, the greater the down payment, the better odds you have of being approved and the better loan terms you will get. Also important is your ability to make the monthly mortgage payments.

8. With TLC'S owner financing, when would my first monthly mortgage payment be due?

Basically 5 days from the closing date. So for example, if you were to purchase and close on your new home on the 10th of the month, then your first payment would be due 5 days from then or the 15th. Typically, 10 days past the "due date" is considered late and any payments received past this time frame is considered late and additional fees will then apply.

Chances are we have already helped have several client's in your area...

and we are wanting to HELP you!!!

Note! The Trophy Group and its affiliates are not attorneys. No legal advice can or will be given. Please consult an attorney for specific legal questions.

http://www.thetrophygroup.com/