How the Loan Process Works
There's little doubt ; getting a mortgage is a complex process. You wouldn't be looking up loan information if you could get a mortgage loan in a single day with a simple application. 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 important steps involved in getting 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. 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 step is where Town & Country Home Loans, Inc. will start saving you money. You will give us info about your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. After we have gone over this info we will provide a pre-qualification letter. Handle it with care — it is a useful tool for buying your new home! Your agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're looking for a new home with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have made an offer and the sellers have accepted, it's time to 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 will order an appraisal of your new home.
Step four: your loan is funded
The real estate agents will find a title company to handle the "funding" and closing. We'll work with this company to ensure all the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at their officeWe work with with this company on your date of closing. Since you won't have to coordinate this process, you can think about moving logistics, paint colors, new carpet, and the details involved in getting your new house.
You've answered some few questions, given us detailed information, applied , and before you know it, you're deciding when to move in! We take care of the legwork so you can spend your time finding the new home that's right for you.