NMLS ID 263947
With over 20 years of experience in the Real Estate Mortgage industry as well as extensive experience in Real Estate Development, Construction Financing and Affordable Housing development, Ruben Romero heads an outstanding team of professionals that aims at exceeding your expectations.
Ruben’s philosophy of leading by example ensures that he is always at the forefront of industry, guideline or regulatory changes; he is a member of the Legislative Committee of the California Mortgage Banking Association and is always involved in issues that are related to our industry.
Ruben Romero has assembled the team, developed and implemented the systems and tools that make our team at Camino Real Mortgage Bankers achieve the level of customer satisfaction we enjoy; our commitment to outstanding service will ensure that you receive personalized and professional service second to none, our customer’s complete satisfaction is not one of our priorities, it is the only one.
We recommend that you get pre-approved with us before you shop, so that you can negotiate from a position of strength and look in a price range that fits your criteria. Another important reason to be pre-approved is that this is also a good time to review the monthly payments, the down-payment requirements and closing costs that you can expect to pay.
The next step is to lock-in the current interest rates and points for your loan of choice for anywhere from 30 to 60 days. You may also elect to allow the interest rate to float, so that you can lock it in at a later time. If you decide to let the rate float you may end-up with a rate that is higher or lower than the rate on your date of application.
After you have reviewed disclosures, we will order a property appraisal, to determine the fair market value of the home, you will be required to pay for the appraisal. When refinancing with certain loan programs, an appraisal may not be necessary. Remember that the appraiser will give an opinion of value, the appraiser does not guarantee the condition of the home, we strongly recommend that you hire a home inspection company to determine the condition of the home.
You will then sign and return all required disclosures and any additional documentation needed to satisfy the conditions of the loan. When we receive the appraisal, a credit report, signed disclosures, and additional obligatory documentation, your loan officer will prepare and submit conditions for final approval.
A licensed title agent should then perform the settlement or escrow process, also referred to as closing or settlement services in some states. Your Loan Officer and your Real Estate Agent will help coordinate this. If purchasing a home, you will be required to bring a cashier's check for the down payment and any other fees to the settlement. In a refinance, fees are typically covered by the loan proceeds. While at the settlement, you will read and sign numerous documents regarding your transaction. As part of the settlement phase, we will wire the loan funds to the settlement agent, which may be a title company, an attorney, or an escrow agent, depending upon the state in which the transaction occurs. The property owner or their lender is paid in full and all fees for all parties are paid. The property's ownership will then transfer from the seller to you.