The Mortgage Loan Process: an Overview
In the market for a new mortgage loan? We can assist you! Call us at 919-614-0388. Ready to get started? Apply Now
There is little question ; getting a mortgage is a complicated process. You wouldn't be here on our website if it were possible to fill out a simple loan app and receive an excellent loan check cut 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 important steps involved in obtaining 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 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 The Natalya Hill Team - Homespire Mortgage a division of Hamilton Group Funding, Inc. | will start to save you money. You will supply information on your current job, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). After we've finished reviewing your information, we'll provide a pre-qualification letter. Be careful with this letter — it can be a useful tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for a new house with your REALTOR™, we find the best program for you.
Step Three: apply now! We make it easy
Once you have made the offer and the sellers have accepted, you should complete the loan application. It's very easy, and you can apply online, right here on our website. After the offer has been accepted and you have applied for your loan, we'll order the professional appraisal on the 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 ensure all the papers your lender will need are in order, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with the title company to set your date to close. Because you won't have to coordinate this process, you get to think about moving, paint colors, carpet, and the details involved in getting a new home.
You've answered some few questions, provided detailed information, applied online, and Before you know it, you're moving! We take care of all the loan details so you can spend your time finding the new home that's right for you.
Have questions about the Loan Process? Call The Natalya Hill Team - Homespire Mortgage a division of Hamilton Group Funding, Inc. today at 919-614-0388. We are happy to answer questions about the loan process.