The Four Steps of the Loan Process:The Loan Process: Four Steps
There can be no question that getting a mortgage is a complex process. You wouldn't be visiting our site if you could fill out a simple application and receive a great loan funded in one day. 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 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? 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. 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 begin saving you money. You will give us details on your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission, of course). After we've reviewed your information, we'll provide you with a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new home with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
After you've signed an offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our website. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.
Step four: funding
The real estate agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure the papers your lender requires are in order, and you will probably}likely sign all these papers at this company's officeWe coordinate with this company to set your date to close. Because you will not have to worry with this coordination, you get to concentrate on the move, painting, new carpet, and the details involved in getting your new home.
You've answered some few questions, given us detailed information, applied , and Before you know it, you'll be moving in! We take care of the loan details so you can focus on finding your new home.
Have questions about the loan process? Call Quick Quote Mortgage NMLS #388278 at 866-584-4650. We answer questions about the loan process every day.