The Four Steps of the Loan Process:The Loan Process: Four Steps
There's quite a lot to do when you get a mortgage loan. You would not be looking up loan information if you could get a mortgage loan in one day by filling out 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. 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? You can get a good idea of your preferred payment abount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: complete a pre-qualification
This step is where Quick Quote Mortgage NMLS #388278 will start to save you money. You will give us information on your employment, your assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for your new home, we're busy finding the loan that's just right for your situation.
After you've signed the offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our website. After the offer has been accepted and you have submitted your loan application, we'll order a professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will coordinate to designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to ensure the papers your lender will need are in order, and you'll probably}likely sign everything at their officeWe do all the work to work with with the title company to set your closing date. Because you don't have to worry with this coordination, you can concentrate on the move, painting, new carpet, and the details involved in moving into a new house.
You've answered a few questions, given us lots of information, applied , and the next thing you know, you're moving in! Quick Quote Mortgage NMLS #388278 is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?
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!