• To get approved for a mortgage loan from Old Phokes Homes LLC. You will have to meet our lending criteria at which we fund and work with. Prior to approval we will provide you a letter of intent if your request is received, reviewed and deemed fit for funding after meeting the requirements and agreeing to the terms.
  • The loan amount is based and approved on 85% to 100% . This carries maximum amortization period of 30 years.
  • You will have to insure your loan for unsecured loans
  • You will have to send us a scanned copy or snap shot of any of your ID (It can be driver’s license, international passport, government issued ID) for proof of identity and proper verification.
  • You will have to provide collateral for the loan. ( For Mortgage loans)
  • Loans are approved for borrowers with credit scores above 580. However, if you have credit below 580 to 500 you can be approved with high interest rate. You will have to provide a credit report (history) from a credit agency.
  • A one-time fee is paid at closing; this is the loan origination fee that covers the processing, closing cost and legal charges to process your loan. This is paid after all paperwork has been signed before funds disbursement.
  • Note: This fee ranges from 2 to 10 points (%) of the principal loan amount and will be provided in the simple loan estimate after you have applied at our company’s website.
  • We do not work with escrow but fund directly.