The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
No doubt, quite a lot involved in oder to get a mortgage. You wouldn't be here on our website if you could complete a simple loan app and receive an excellent loan check cut the same 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.
Getting a loan involves four major milestones.
Step one: Decide how much you can afford
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? Use the calculators on our website to determine your monthly payment amount. 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 is where Mortgage Headquarters of Missouri, Inc will begin saving you money. You will provide info on your current job, assets, and residence history. You'll provide your employment, asset, and residence history information. We get your permission to run your credit score and report. We'll review all this info and will provide a pre-qualification letter. Your real estate agent should use the pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're picking out your new home, we're busy finding the loan that's right for your unique situation.
After you've made the offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. Finally, we will order the appraisal of your new home.
Step four: funding
The real estate agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to make sure all the papers your lender requires are in order, and you will probably}likely sign all these papers at this company's officeWe do all the work to coordinate with this company on your date of closing. Because you will not have to worry with this coordination, you get to concentrate on the move, paint colors, new carpet, and all the details of moving into a new house.
You've answered some few questions, provided detailed information, applied , and Before you know it, you'll be moving! Mortgage Headquarters of Missouri, Inc is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call Mortgage Headquarters of Missouri, Inc at 5733029990. We answer questions about the loan process every day.