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 An
overview of the loan process
Make no mistake, there's a lot involved in
getting a mortgage loan. You wouldn't be here on our website if you
could fill out a one-page application and get the best loan for you
funded the same day. What we do is do most of the heavy lifting for
you, so you can concentrate on what's important -- preparing to move
into your new home, saving money, or making plans for your home
equity check.
There are four main steps involved in getting
a loan. You'll see that we've made your part in them as easy as
possible, and we do all the work! That's what we're here for.
| 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? And given your unique credit and
employment history, income and debt, and goals, how much
will a lender loan you? The first part you can get a rough
idea of by using the calculators on our website. 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.
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| Step two:
pre-qualify for your loan |
This is where the rubber meets the road and you save the
most money. You supply information about your employment,
your assets, your residence history, and so on. We get your
permission to run your credit score. When we review all this
information we give you a Pre-Qualification Letter. Handle
it with care -- to a home seller, it's like a suitcase full
of cash! Your realty agent will use your Pre-Qual (as they
may call it) to make the best offer on the home you choose,
and the seller knows you're pre-qualified. It gives you
buying clout! And while you're picking out the home that's
right for you, we're busy finding the loan that's right for
you.
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| Step three:
apply now! We make it easy |
Once you've made an offer and it's been accepted, it's time
to complete the loan application. It couldn't be easier, and
you can do it online, right here at our website. When the
time is right, we'll order an appraisal of your new home.
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| Step four: your
loan is funded |
Your realty agent and the seller's
will work together to designate an escrow/title company to
handle the funding of your loan once it's approved. We'll
coordinate with the escrow company to make sure all the
papers your lender will need are in order, and you'll sign
everything at the escrow/title company's office.
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You've answered a few questions, given us some
detailed information, applied online, and next thing you know,
you're moving in! We're in the business of mortgage loans, you're
not -- so we do most of the work. Doesn't that make sense? |
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