Types of Signing Agent Documents

Cash Real Estate Deals

What it is:

What you need to bring:

A cash real estate deal, or cash offer, is when a buyer has the cash to purchase the property without needing to get approval for a loan.  Sometimes buyers can make cash offers on a property if they received a pre-approval for a loan or that they will be easily approved for a loan.

Refinance Loans

What it is:

What you need to bring:

A refinance loan is when an individual takes out a new loan to may off one or more outstanding loans.  this is often done to receive lower interest rates or to reduce their repayment amount.

Loan Modifications

What it is:

What you need to bring:

A loan modification is any changes being made to the original terms of the loan.  This includes extending the term, lowering the interest rate, and/or changing the loan type.

Purchase Loans

What it is:

What you need to bring:

These loans are the ones requested by a borrower in order to purchase something else such as a house, car, or other expensive asset that the individual could not afford on their own.

Home Equity Loans

What it is:

What you need to bring:

Equity loans, or home equity loans, are loans for a set amount of money that of which is secured by an individual's home. To repay these loans, equal monthly payments are made over a fixed term, similar to that of a regular mortgage.

Lines of Credit

What it is:

What you need to bring:

A line of credit is a flexible loan.  These are gotten from from a financial institution for a defined amount of money.  With a line of credit an individual can access as the funds as needed and is repay immediately or within a prespecified time period.  They are very much similar to credit cards.

Piggy Bank Loans

What it is:

What you need to bring:

This is when a person takes out two loans for one property.  most of the time the first loan will cover approximately 80% while the second loan covers another 10% and the remaining 10% must come out of the person's pocket.

Reverse Mortgage Loans

What it is:

What you need to bring:

A reverse mortgage is similar to a traditional mortgage where homeowners can borrow money by using their homes as a security measure for the loan.

Commercial Loans

What it is:

What you need to bring:

These loans are between businesses and a financial institutions, such as banks. These are debt-based funding arrangement that are typically used to fund major capital expenditures and/or cover operational costs that the company may otherwise be unable to afford.