The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
There's quite a lot to do in oder to get a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get an excellent loan funded the same day. But Homewithloan.com does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major milestones.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. How much of a monthly payment can you afford? 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. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: complete a pre-qualification
This is where the process really begins and Homewithloan.com can really save you money. You will give us info about your employment, your assets, and residence history. You'll supply information on your employment, asset, and residence history. We get your permission to pull your credit score and report. We'll review all this info then provide a pre-qualification letter. 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 shopping for a new home with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have made the offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.
Step four: your loan is funded
The real estate agents will find a title company to handle the "funding" and closing. We'll work with this company to ensure all the papers your lender will require are in order, and you'll probably}likely sign all these papers at this company's officeWe coordinate with this company to set your closing date. Since you won't have to worry with this coordination, you get to concentrate on moving logistics, paint colors, new carpet, and the details involved in moving into a new house.
You've answered some few questions, provided lots of information, applied online, and Before you know it, you're moving! We take care of the loan details so you can spend your time finding your new home.
Have questions about the loan process? Call Homewithloan.com at 9727982110. It's our job to answer lending questions, so we're happy to help!