How the Mortgage Loan Process Works
There's quite a lot involved when you get a mortgage loan. You wouldn't be looking up loan information if you could get a mortgage loan in a single day with a simple application. But Quick Quote Mortgage NMLS #388278 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
A couple of factors determine this amount. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. 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: pre-qualify for your loan
This is where the process really begins and Quick Quote Mortgage NMLS #388278 can really save you money. You will give us details about your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (with your permission. After we've reviewed this information, we'll provide a pre-qualificaiton letter. Your REALTOR® will likely 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 your new home, we're busy researching the loan that's just right for your unique situation.
After you've signed the offer and the sellers accept it, you should apply for the loan. It's very easy, and you can apply online, right here on our site. When the time is right, we'll order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will work together to designate an escrow/title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to ensure all the papers your lender will need are avaiailable, and you'll probably}likely sign everything at their officeWe work with with the title company on your closing date. Because you will not have to worry with this coordination, you can concentrate on moving, painting, carpet, and the fun parts of getting your new house.
You've answered some few questions, given us detailed information, applied , and the next thing you know, you're deciding when to move in! We take care of the mortgage legwork so you can spend your time finding your new home.
Have questions about the loan process? Call Quick Quote Mortgage NMLS #388278 at 866-584-4650. It's our job to answer lending questions, so we're happy to help!