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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. What we do is do 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 making plans
for your home equity check.
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
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.
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. When we review all this information
we give you a Pre-Qualification Letter. Handle it with care
-- to a home seller, it's like a suitcase full of cash! 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.
Step three: apply now! We make it easy
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.
Step four: your loan is funded
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,
you're not -- so we do most of the work. Doesn't
that make sense?
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