How the Loan Process Works
There can be no doubt ; getting a mortgage is a complicated process. You wouldn't be visiting our website if you could fill out a one-page mortgage application and get an excellent loan check cut 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 primary steps involved in getting a 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. We'll also help you through different scenarios by asking a few simple questions. 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 Homewithloan.com can start saving you money. You will supply info on your current job, assets, and residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. We will go over this info then will give you a pre-qualification letter. Handle it with care — it can be a useful tool for buying your new home! Your agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for a new house with your agent, we find the best program for you.
After you've signed the offer and the sellers accept it, you should apply for the loan. Applying for your loan could not be much easier; you can apply any time right here on our site. At the end of this step, we'll order an appraisal of your new home.
Step four: funding
The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate 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 do all the work to coordinate with this company on your date of closing. Since you won't have to coordinate this process, you get to concentrate on the move, paint colors, carpet, and all the details of moving into your new home.
You've answered a few questions, provided lots of information, applied online, and Before you know it, you'll be moving in! We do the mortgage legwork so you can focus on 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!