An Overview of the Loan Process
There is no question ; getting a mortgage loan is a complex process. You wouldn't be here on our site if it were possible to complete a one-page mortgage application and receive the best loan funded in one 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
This is a function of a couple things. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? 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 is where the rubber meets the road and Town & Country Home Loans, Inc. can really save you money. You will give us info about your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission, of course). After we have reviewed this information we give you a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. While you're deciding on your new home, we're busy finding the loan that's right for you.
Step three: apply now! We make it easy
Once you've made an offer and the sellers have accepted, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our site. At the end of this step, we will order the appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will work together to designate a title company to handle the funding of your loan once it's approved. We'll work with this company to make sure the papers your lender will need are in order, and you will probably}likely sign everything at their officeWe do all the work to coordinate with this company on your date of closing. Since you won't have to worry about these details, you get to concentrate on moving, painting, carpet, and the fun parts of moving into a new home.
You've answered some few questions, provided detailed information, applied online, and Before you know it, you'll be moving! We take care of the loan details so you can focus on finding the new home that's right for you.