The Four Steps of the Loan Process:The Loan Process: Four Steps
There is no doubt ; getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if it were possible to get a loan in a single 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: Decide how much you can afford
This is a function of a couple things. What kind of monthly payment are you looking for? 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. 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: complete a pre-qualification
This is where the rubber meets the road and you save the most money. You will give us details about your current job, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. We will go over all this info then provide a letter of pre-qualification. Be careful with this letter — it can be a great tool when you make your offer! Your real estate agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. 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
After you've made an offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can do it online, right here on our site. At the end of this step, we'll order the appraisal of your new home.
Step four: funding
The real estate agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to make sure all the papers your lender will require are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to work with with the title company to set your date of closing. Since you will not have to worry about these details, you can think about the move, painting, carpet, and the details involved in moving into a new house.
You've answered some few questions, provided detailed information, applied online, and Before you know it, you're moving in! Quick Quote Mortgage NMLS #388278 is in the business of loans; 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!