The Loan Process: an Overview
There can be no question that getting a mortgage is a complicated process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day by filling out a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a loan involves four major milestones.
Step one: determine how much you can borrow
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? 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 step is where Town & Country Home Loans, Inc. can start saving you money. You will supply info on your employment, assets, and your residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed the provided information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're looking for a new house 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 accept it, you should apply for the loan. It's very easy, 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
Your REALTOR® and the seller's will coordinate to designate a title company to take care of the funding of your loan once it has been approved. We'll work with this company to ensure all the papers your lender will need are avaiailable, and you'll probably}likely sign everything at their officeWe coordinate with this company to set your closing date. Since you will not need to worry about these details, you get to think about the move, painting, new carpet, and the details involved in getting a new house.
You've answered a few questions, given us lots of information, applied online, and before you know it, you're moving in! Town & Country Home Loans, Inc. is in the business of mortgage loans; you're not — so take care of the details. Doesn't that sound nice?