|
An overview of the loan process
Please Undesrstand, there
is a lot of information required and involved in
getting a mortgage loan. You wouldn't be here investigating
our website
if you could just fill out a one-page application and get the
best loan for you funded on the same day. that's where we
come in and assist, so you can concentrate on what's
most important to you -- Moving into your new home, saving
money, or making plans for your home equity line of credit.
There are four major steps require to get a loan. we
have made your part in them
as simple as possible, and we will do all the work! That is
the reason we are here for you.
| Step One: Affordability |
This is factored by a couple
of things. How much of a monthly payment could you
afford? Given your unique credit and employment
history, income and debt, and goals, how much will a
lender loan you? This first step will provide you a rough
idea by using the calculator on our website.
We can also assist you through different scenarios by
asking a few valuable questions. Using standard
lender guidelines, we will provide you a good idea of what
kind of terms and loan program you can best expect to
benefit from most.
|
| Step two:
pre-qualify for your loan |
This is where the right decisions
will save the most money. You provide
information about your employment, your assets, your
residence history, and other loan requirements. We
request your permission
to run your credit score. Then we review all the
information and give you a Pre-Qualification Letter
based on your specific approval amount. Be
careful with this information -- to a home seller, it's like
cash in the bank! Your real estate agent will use
your Pre-Qualification (pre-qual - as they may call it) to make
the best offer on the home you choose to purchase, and the
seller is already aware you're pre-qualified and a
certified and qualified buyer. It gives you
buying power! While you're picking out your
new home, we are busy looking for the loan that best
suits your needs. you.
|
| Step three:
apply now! We make it easy |
Once you have made an offer to the
seller though your real estate agent and it's
been accepted, it's time for us complete the loan
application. we have made it easier for you as you can do
it online, right here on our website. At the right
time, we will order the appraisal required on
your new home.
|
| Step four:
your loan is funded |
Your real estate agent and the
seller (s) will work together to designate an
escrow/title company to handle the funding
requirements of your
loan once it's approved. We will coordinate with the
escrow company to make sure that all the pertinent papers needed are in order, and you
will be required sign all closing documents of the
loan at the escrow/title company's office.
|
|
