About the Loan Process
There's no doubt that getting a mortgage loan is a complex process. You wouldn't be researching mortgage loans if you could get a loan in a single day by filling out a simple application. But The Mortgage Advisors LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major steps.
Step one: Decide on your maximum loan amount
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. 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: complete a pre-qualification
This is where The Mortgage Advisors LLC will start to save you money. You will give us details about your employment, assets, and residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. When we review all this info we give you a pre-qualification letter. Handle it with care — it can be a useful tool when you make your offer! Your agent should 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 shopping for your new home, we're busy researching the loan program that's right for you.
Step three: apply now! We make it easy
Once you have made the offer and it's been accepted, you should complete the loan application. It couldn't be easier, and you can do it online, right here on our website. At the end of this step, we'll order an appraisal of your new home.
Step four: your loan is funded
The agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure all the papers your lender will need are in order, and you will probably}likely sign everything at this company's officeWe do all the work to work with with this company on your closing date. Since you won't have to worry about these details, you can think about moving logistics, if you're going to repaint, new carpet, and the details involved in getting a new home.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you'll be moving in! The Mortgage Advisors LLC is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call The Mortgage Advisors LLC at 303.979.1822. It's our job to answer lending questions, so we're happy to help!