{"id":15079,"date":"2022-10-05T06:35:57","date_gmt":"2022-10-05T11:35:57","guid":{"rendered":"https:\/\/www.fitbux.com\/articles\/?p=15079"},"modified":"2024-11-14T16:43:22","modified_gmt":"2024-11-14T22:43:22","slug":"neo-home-loans-review","status":"publish","type":"post","link":"https:\/\/www.fitbux.com\/articles\/neo-home-loans-review\/","title":{"rendered":"Neo Home Loans Review"},"content":{"rendered":"

Neo Home Loans<\/a> understands that buying a home and getting a mortgage is more than just getting the lowest interest rate.\u00a0 In fact, many regret buying a house<\/a> because they were unprepared to do so.<\/p>\n

Neo Home Loans strives to educate their borrowers.\u00a0 Most importantly, they will help you find a mortgage strategy that makes since for you.<\/p>\n

For example, should you use a 30 year fixed mortgage or based on your goals, are you better off with an adjustable rate mortgage<\/a>?<\/p>\n

They will also provide you with different rate options based on various amounts of mortgage points paid<\/a>.\u00a0 Therefore, you can get the information you need to input into FitBUX mortgage point calculator<\/a>.\u00a0 Thus maximizing your net wealth.<\/p>\n

Below is our detailed review of Neo Home Loans.<\/p>\n

First and Foremost<\/h2>\n

We review a number of companies in the financial services industry.\u00a0 However, we do not do reviews simply for blog advertising revenue.\u00a0 We review them because we are vetting companies for members of FitBUX<\/a>.<\/p>\n

Every student loan lender, mortgage lender, insurance company, etc… on FitBUX’s financial planning<\/a> technology has been vetted.\u00a0 Neo Home Loans is one of those companies.<\/p>\n

I’ve been part of the real estate industry for many years. They are one of the few mortgage lenders that go deeper than just getting a rate and a loan.<\/p>\n

They strive to educate. In short, they do it the way it should be done!<\/p>\n

\"Go<\/a><\/h2>\n

Neo Home Loans Process<\/h2>\n

The first step in the process at Neo Home Loans is discovery. You’ll schedule a time for a mortgage assessment with one of their employees.<\/p>\n

A side note…\u00a0 Its not uncommon for FitBUX Coaches<\/a> to be on these calls with our FitBUX members.\u00a0 Therefore, the FitBUX member can take what Neo Home Loans is saying and input directly into their financial plan to see the short-term and long-term impact of buying a home.\u00a0 In addition, the Coach acts as a third party so you know you are getting an unbiased opinion!<\/p>\n

The second step is to develop a strategy with the rep at Neo Home Loans.\u00a0 The goal is to have a strategy that maximizes your wealth but also that helps you sleep at night.\u00a0 Neo Home Loans will provide you a cool breakdown of your options.\u00a0 This is something that most lenders do not do.<\/p>\n

The third step is executing the loans. On average, a purchase loan for conventional financing takes 30 – 45 days to close<\/a>.\u00a0 Special loans such as FHA and VA loans take an average of 50 days.\u00a0 The average time at Neo Home Loans is 17 days!<\/p>\n

The last step is really cool.\u00a0 After the loan closes, Neo Home Loans will track it.\u00a0 This is awesome because if they see an opportunity for you to refinance they will notify you.\u00a0 Thus, you have the ability to increase your net wealth.<\/p>\n

In addition, they will also provide you with a monthly real estate and wealth digest.\u00a0 This report provides you with valuable insights on your home’s net worth as it grows.\u00a0 It provides ways to use your home equity to build wealth<\/a>.<\/p>\n

Neo Home Loans Bullet Proof Buyer Program.<\/h3>\n

According to Attom Data, 36% of single-family home and condo purchases in 2022 were cash deals.\u00a0 This is an increase from 23% in 2020!<\/p>\n

Therefore, many buyers are losing the ability to have their offers accepted by home<\/a> sellers.\u00a0\u00a0<\/p>\n

To give their borrowers an advantage, Neo Home Loans launched their Bullet Proof Buyer program.\u00a0 The program consists of:<\/p>\n

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  1. A Comprehensive, upfront market analysis: During your initial consultation with Neo Home Loans, they will share with you current data and trends.<\/li>\n
  2. Prepare an Appraisal Gap Strategy: Often times the home appraisal is lower than the purchase price. If this happens, your loan won’t be approved.\u00a0 Therefore, Neo Home Loans helps you develop a plan in case it does come in low you can quickly restructure your deal and still buy the home.<\/li>\n
  3. Obtain a Fully Underwritten Approval: Before submitting an offer Neo Home Loans has an underwriter review your full loan package, approve your credit, and income.\u00a0 This gives you the ability to close faster and negotiate financing contingenices.<\/li>\n<\/ol>\n

    Types Of Mortgages<\/h2>\n

    Neo Home Loans can help you with any type of mortgage need from conforming loans<\/a> to jumbo loans.\u00a0 They offer:<\/p>\n