The Mortgage Loan Process: an Overview
There can be no doubt that getting a mortgage loan is a complicated process. You wouldn't be visiting our website if you could fill out a simple application and receive an excellent loan funded in one day. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
There are four main steps involved in getting a mortgage loan.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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: pre-qualify for your loan
This step is where CHASE MORTGAGE, Inc. #317430 can begin to save you money. You will supply details about your current job, assets, and residence history. You'll supply information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we have reviewed all this information we will give you a pre-qualification letter. Your agent will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're looking for a new house with your agent, we find the best program for you.
Once you have signed an offer and the sellers accept it, you should apply for the loan. Applying for your loan could not be much easier; you can apply online right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order a professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will work together to decide on a title company to handle the funding of your loan once it has been approved. We'll coordinate with this company to ensure all the papers your lender needs are avaiailable, and you'll probably}likely sign everything at their officeWe coordinate with this company on your date to close. Because you don't need to coordinate this process, you can think about the move, painting, new carpet, and the fun parts of moving into your new house.
You've answered a few questions, provided detailed information, applied online, and Before you know it, you're moving! CHASE MORTGAGE, Inc. #317430 is in the business of mortgage loans; you're not — so we do the work. Doesn't that make sense?
Have questions about the loan process? Call CHASE MORTGAGE, Inc. #317430 at 4357556622. We answer questions about the loan process every day.