The Four Steps of the Loan Process:The Loan Process: Four Steps
Make no mistake, there's quite a lot involved in oder to get a mortgage loan. You wouldn't be visiting our website if it were possible to fill out a one-page loan app and get the best loan funded the same day. But Southwest Funding #841
Company NMLS # 303440 does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in obtaining a loan.
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? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. 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: complete a pre-qualification
This is where Southwest Funding #841
Company NMLS # 303440 can begin saving you money. You will provide details on your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (only after you give your permission, of course). We will go over this info then provide a letter of pre-qualification. Your real estate agent should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for your new home with your REALTOR™, we find the best program for you.
After you've made an 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 online right here on our site. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will coordinate to designate a title company to take care of the funding of your loan. We'll coordinate with this company to ensure the papers your lender will require are avaiailable, and you will probably}likely sign everything at this company's officeWe coordinate with this company on your date to close. Since you don't need to coordinate this process, you can concentrate on the move, paint colors, new carpet, and the fun parts of moving into a new home.
You've answered some few questions, provided lots of information, applied , and before you know it, you're moving in! We take care of the loan details so you can focus on finding your new home.
Have questions about the loan process? Call Southwest Funding #841
Company NMLS # 303440 at 5122916100. We answer questions about the loan process every day.