The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
Make no mistake, there's a lot to do in oder to get a mortgage. You wouldn't be visiting our website if it were possible to fill out a simple loan application and get an excellent loan funded the same day. But Town & Country Home Loans, Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four primary steps involved in getting a loan.
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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 step is where Town & Country Home Loans, Inc. can start saving you money. You will provide information on your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we have reviewed all this information we will give you a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're picking out the home that's right for you, we're busy finding 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 apply for the loan. It couldn't be easier, and you can do it online, right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order a professional appraisal on the home.
Step four: your loan is funded
The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to make sure the papers your lender will need are in order, and you'll probably}likely sign all these papers at this company's officeWe work with with the title company on your date of closing. Because you will not need to worry with this coordination, you can concentrate on moving logistics, painting, carpet, and all the details of moving into your new home.
You've answered a few questions, given us lots of information, applied , and Before you know it, you're moving! We take care of all the loan details so you can spend your time finding your new home.