How the Mortgage Loan Process Works
There is little question ; getting a mortgage loan is a complex process. You wouldn't be researching mortgage loans if you could get a loan in one day by filling out a simple application. We do most of 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 mortgage loan involves four major steps.
Step one: Decide how much you can afford
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: complete a pre-qualification
This step is where Quick Quote Mortgage Inc NMLS #388278 will begin to save you money. You will provide information on your employment, assets, and residence history. You'll supply your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it is a useful tool when you make your offer! Your agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're looking for a new house with your real estate agent, we find the best program for you.
After you've signed an offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can do it online, right here on our site. Finally, we'll order an appraisal of your new home.
Step four: your loan is funded
Your REALTOR® and the seller's will coordinate to decide on a title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender needs are avaiailable, and you will probably}likely sign everything at this company's officeWe coordinate with the title company to set your date to close. Since you will not have to worry with this coordination, you get to think about the move, painting, new carpet, and the fun parts of moving into your new home.
You've answered a few questions, given us lots of information, applied , and before you know it, you're deciding when to move in! Quick Quote Mortgage Inc NMLS #388278 is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call Quick Quote Mortgage Inc NMLS #388278 at 8665844650. Quick Quote Mortgage Inc NMLS #388278 answers loan process questions every day.