The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
There is no question ; getting a mortgage loan is a complicated process. You wouldn't be here on our site if it were possible to complete a one-page application and receive an excellent loan check cut in one day. But The Mortgage Advisors LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four primary steps involved in obtaining a loan.
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? 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. 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 rubber meets the road and The Mortgage Advisors LLC can really save you money. You will give us info about your employment, your assets, and residence history. You'll give us your employment, asset, and residence history information. We run your credit score and report. After we've finished reviewing your information, we'll provide you with a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for your new home with your real estate agent, we find the best program for you.
Once you've made an offer and it's been accepted, it's time to complete the loan application. Applying for your loan could not get much easier; you can apply from the comfort of your home right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.
Step four: funding
Your real estate agent and the seller's will work together to designate a title company to take care of the funding of your loan. We'll work with this company to ensure all the papers your lender requires are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to coordinate with this company to set your date to close. Since you won't have to coordinate this process, you can think about moving logistics, paint colors, carpet, and the fun parts of moving into a new home.
You've answered some few questions, given us detailed information, applied , and Before you know it, you'll be moving in! The Mortgage Advisors LLC is in the business of mortgage loans; you're not — so we take care of the details. Doesn't that make sense?
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!