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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 my website if you could fill out a one-page application and get the best loan for you funded the same day. What I do is 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 I've made your part in them as easy as possible, and we do all the work! That's what I'm here for.
| Step one: Determine how much you can borrow |
This is a function of a couple of 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 my website. I'll also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, I'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 |
At this stage, you supply information about your employment, your assets, your residence history, and so on. I will then get your permission to run your credit profile. When I review all this information I will provide you a Pre-Qualification Letter. Handle it with care -- to a home seller, it's like a suitcase full of cash! Your real estate 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, I'm busy finding the loan that's right for you.
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| Step three: Apply now! |
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, I'll order an appraisal of your new home.
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| Step four: your loan is funded |
We will work together to designate an attorney/ settlement company to handle the funding of your loan once it's approved. My team will coordinate with the attorney to make sure all the papers your lender will need are in order, and you'll sign everything at the attorney'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!
My goal is to make the process as convenient and easy as possible while making sure that all of your questions are answered and you have the best loan program with the best interest rate to meet your needs.
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