About the Mortgage Loan Process
There is no doubt that getting a mortgage is a complex process. You would not be researching mortgage loans if you could get a mortgage loan in a single 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 home 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? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. 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: pre-qualify for your loan
This is where Tenby J. Dahman The Dahman Team will begin saving you money. You will supply info about your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for a new home with your real estate agent, we find the best program for you.
After you've made the offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not get much easier; you can apply any time right here on our site. At the end of this step, we'll order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to designate an escrow/title company to handle the funding of your loan. We'll coordinate with this company to make sure all the papers your lender will need are in order, and you will probably}likely sign all these papers at this company's officeWe work with with this company to set your date to close. Since you won't have to worry with this coordination, you get to concentrate on the move, if you're going to repaint, carpet, and the details involved in moving into your new home.
You've answered a few questions, given us detailed information, applied online, and before you know it, you're moving in! We do the mortgage legwork so you can spend your time finding your new home.
Have questions about the loan process? Call Tenby J. Dahman The Dahman Team at 3038627760. It's our job to answer lending questions, so we're happy to help!