The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps
There is little doubt ; getting a mortgage is a complex process. You wouldn't be visiting our site if you could fill out a simple loan app and get an excellent loan check cut the same day. But Mortgage Headquarters of Missouri, Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major steps.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. 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. 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: pre-qualify for your loan
This step is where Mortgage Headquarters of Missouri, Inc can start saving you money. You will provide info on your current job, assets, and your residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. We'll go over all this information then provide a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're picking out the home that's right for you, we are researching the best loan for you.
After you've signed an offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not be much easier; you can apply online right here on our site. At the end of this step, we will order an appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will work together to find a title company to take care of the funding of your loan once it has been approved. We'll work with this company to make sure all the papers your lender requires are avaiailable, and you will probably}likely sign everything at this company's officeWe do all the work to work with with this company to set your date to close. Since you won't need to worry with this coordination, you can think about the move, paint colors, carpet, and all the details of moving into your new home.
You've answered a few questions, given us lots of information, applied online, and Before you know it, you're moving! Mortgage Headquarters of Missouri, Inc is a mortgage specialist; you're not — so take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Mortgage Headquarters of Missouri, Inc at 5733029990. We answer questions about the loan process every day.