Below is a list of frequently asked questions related to our Consumer Connect portal and the UC Home Loan process. If you have any questions related to Consumer Connect portal, please email loanapp@ucop.edu or contact the Office of Loan Programs Loan Origination Manager at 510-987-0916.
1. Can I make an offer on a home before I apply for the loan?
2. What if I'm not ready to submit an application at this time?
3. Can I print a copy of my competed application?
4. If I can't finish my online application in one setting, can I save it to finish later?
5. Do I need to enter my spouse or partner's information if I do not plan to use his/her income for qualifying purposes but I do plan for him/her to have a title interest in the property?
6. Will I get a confirmation that my application was received?
7. Who will I be working with after my application is submitted?
8. Can I edit my application after it has been submitted?
9. How long will it take to get a pre-appoval after my application is submitted?
10. My pre-approval letter has expired - how can I get a new one?
1. Can I make an offer on a home before I apply for the loan?
We highly recommend that you get pre-approved before you enter into a purchase agreement. A pre-approval letter helps you put your buying power in perspective, even before you find a property and it also lets a Seller or Realtor know that you are financially qualified to purchase a home.
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2. What if I'm not ready to submit an application at this time?
Most campuses have a time limit for you to use your MOP loan. If you aren't planning on applying right away, you should check with your Campus Home Loan Coordinator to determine your eligibility expiration date.
Once your loan application is submitted, you will be assigned to a UC loan officer (underwriter) who will work directly with you and all other parties in the transaction.
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3. Can I print a copy of my completed application?
No. You will not be able to print your application from the Consumer Connect portal. However, you will be able to view a short summary of your application details. To view your summary, log into your account and click the completed tasks for your submitted application and then click Summary on left navigation bar.
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4. If I can't finish my online application in one setting, can I save it to finish later?
Yes. After you created an account and started your online application, the application data is saved and you can resume your application at a later time by going back to the Consumer Connect portal and logging in to your account.
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5. Do I need to enter my spouse or partner's information if I do not plan to use his/her income for qualifying purposes but I do plan for him/her to have a title interest in the property?
Yes. If you plan for your spouse or partner to have a title interest in the property, they must be a Co-Borrower on the loan so therefore, you must include their information when completing your online application. This applies even if the co-borrower is not employed or you do not plan to use their income for qualifying purposes.
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6. Will I get a confirmation that my application was received?
Yes. You will receive an email that your application was received and it will include the name and contact information of the UC loan officer (underwriter) assigned to you.
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7. Who will I be working with after my application is submitted?
After your application is submitted, you will receive an email notifying you of your assigned loan officer (loan underwriter) with his or her contact information. You will be working directly with your loan officer throughout the entire loan process from start to finish.
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8. Can I edit my application after it has been submitted?
No. Once your application is submitted, you will not be able to make any changes to your application; however, you can provide your loan underwriter with any additional information you wish to provide.
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9. How long will it take to get a pre-approval after my application is submitted?
Due to our current high loan volume, all pre-approval requests may take 15-20 business days from the time an application and all supporting documents are submitted.
10. My pre-approval letter has expired - how can I get a new one?
The pre-approval letter is good for 90 days. If you still haven't found a home by the end of this period, you will need to provide your underwriter with updated income and assets documentation. Given our current high loan volume, you should allow 15-20 business days for the pre-approval renewal process.
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