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 An overview of the loan process
Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. Considering what is happening with mortgage lending today you need more advice then ever before. What we do is most of the heavy lifting for you, so you can concentrate on what's important -- preparing to move into your new home, saving money, or enjoying the benefits of a responsible mortgage plan.
There are four main steps involved in getting a loan. You'll see that we've made your part in them as easy as possible, and we do all the work! That's what we're here for.
| Step one: determine how much you can borrow or what programs are available |
This is a function of a couple things. 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? The first part you can get a rough idea of by 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.
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| Step two: pre-qualify for your loan |
This is where the rubber meets the road and you save the most money. You supply information about your employment, your assets, your residence history, and so on. We get your permission to run your credit score. We make it easy by providing an online application process that with the right information can provide you with an immediate approval. When we review all this information we give you a Pre-Qualification Letter. Your realty agent will use your Pre-Qual (as they may call it) to make the best offer on the home you choose, and the seller knows you're pre-qualified. It gives you buying clout! And while you're picking out the home that's right for you, we're busy finding the loan that's right for you.
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| Step three: apply now! We make it easy |
With our online system let our agents walk you through the process, so you can see immediate results. This process allows us to communicate with you through a secure online account that only you will have access to with your own username and password. In a purchase transaction, once you've made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here at our website. When the time is right, we'll order an appraisal of your new home.
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| Step four: your loan is funded |
Once you have chosen the right program we will help you negotiate the best possible terms complete all lending conditions, draw up your documents for your review and once completed will begin the funding and closing process which completes your transaction. In a purchase scenario your realty agent and the seller's will work together to designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office.
| You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're moving in! We're in the business of mortgage loans -- so we do most of the work. Doesn't that make sense?
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