The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
Make no mistake, there's a lot involved in oder to get a mortgage. You wouldn't be here on our website if you could complete a one-page loan app and get a great loan funded in one day. But Homewithloan.com does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four main steps involved in getting a mortgage loan.
Step one: determine how much you can borrow
A couple of factors determine this amount. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.
Step two: pre-qualify for your loan
This is where the process really begins and Homewithloan.com can really save you money. You will supply details on your current job, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (with your permission. We will review all this information then will provide a pre-qualification letter. Handle it with care — it can be a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for a new house with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
Once you've made an offer and the sellers have accepted, you should complete the loan application. It's very easy, and you can apply online, right here on our site. After the offer has been accepted and you have applied for your loan, we will order the professional appraisal on the home.
Step four: funding
The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll work with this company to make sure all the papers your lender will need are in order, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with the title company to set your closing date. Since you don't need to worry with this coordination, you can think about the move, painting, new carpet, and all the details of moving into your new home.
You've answered a few questions, provided lots of information, applied , and before you know it, you're moving in! We take care of the loan details so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Homewithloan.com at 9727982110. We answer questions about the loan process every day.