The Four Steps of the Loan Process:The Loan Process: Four Steps
Make no mistake, there's a lot involved when you get a mortgage loan. You would not be looking up loan information if you could get a loan in one day with a simple application. But Homewithloan.com does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a home loan involves four major steps.
Step one: determine how much you can borrow
This is a function of a couple things. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? 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: complete a pre-qualification
This step is where Homewithloan.com can start saving you money. You will provide details about your current job, 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, of course). After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Your real estate agent should use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for your new home with your agent, we find the best program for you.
Step three: apply now! We make it easy
After you've signed an offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan could not get much easier; you can apply right here on our site. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.
Step four: your loan is funded
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 requires are in order, and you will probably}likely sign all these papers at their officeWe coordinate with this company on your date to close. Since you will not have to worry about these details, you can concentrate on the move, paint colors, carpet, and the fun parts of getting a new house.
You've answered some few questions, given us detailed information, applied , and Before you know it, you'll be moving! Homewithloan.com is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call Homewithloan.com at 9727982110. We answer questions about the loan process every day.