The Loan Process: an Overview
Make no mistake, there's a lot involved in oder to 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. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a loan involves four major milestones.
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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 is where Quick Quote Mortgage NMLS #388278 can begin to save you money. You will give us info on your employment, assets, and residence history. You'll supply information on your employment, asset, and residence history. We get your permission to run your credit score and report. We will review this info and give you a letter of pre-qualification. Your REALTOR® should use your 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 house with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
Once you have made an 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 will order the appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will coordinate to decide on an escrow/title company to take care of the funding of your loan once it's approved. We'll work with this company to ensure all the papers your lender needs are in order, and you'll probably}likely sign all these papers at their officeWe do all the work to work with with this company to set your date of closing. Since you don't need to worry with this coordination, you get to think about moving logistics, paint colors, new carpet, and all the details of moving into your new house.
You've answered some few questions, provided detailed information, applied online, and Before you know it, you're moving! We do the legwork so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Quick Quote Mortgage NMLS #388278 at 866-584-4650. Quick Quote Mortgage NMLS #388278 answers loan process questions every day.