The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
|Searching for mortgage advice? We'll be glad to talk about your mortgage needs! Call us at 415-731-3100. Want to get started? Apply Online Now.|
No doubt, a lot to do when you get a mortgage. You wouldn't be visiting our website if you could fill out a simple application and get the best loan check cut the same day. But All Money.com Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a home loan involves four major milestones.
Step one: determine how much you can borrow
This is a function of a couple things. 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 amount 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: complete a pre-qualification
This step is where All Money.com Inc. will start to save you money. You will provide information on your current job, 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 reviewed the provided information, we'll provide a pre-qualification letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we are finding the loan that best fits your needs.
Step three: apply for your loan
After you've signed the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply any time right here on our site. When the time is right, we'll order an appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender will need are available, and you will probably}likely sign all these papers at their officeWe coordinate with the title company to set your date to close. Since you will not need to worry about these details, you can concentrate on the move, painting, new carpet, and the details involved in getting a new home.
You've answered a few questions, provided detailed information, applied , and before you know it, you are deciding when to move in! We take care of the loan details so you can spend your time finding your new home.