An Overview of the Loan Process
Make no mistake, there's a lot involved in oder to get a mortgage loan. You wouldn't be looking up loan information if you could get a loan in one day with a simple application. But The Mortgage Advisors LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major steps.
Step one: Decide how much you can afford
This is a function of a couple things. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? 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: pre-qualify for your loan
This is where the rubber meets the road and The Mortgage Advisors LLC can really save you money. You will supply information on your employment, assets, and your residence history. You'll supply your employment, asset, and residence history information. We run your credit score and report. After we've finished reviewing your information, we'll give you a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're deciding on the home that's right for you, we are researching the loan that best fits your needs.
Step three: apply now! We make it easy
Once you have made the offer and it's been accepted, you should complete the loan application. Applying for a loan couldn't get much easier; you can apply 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: your loan is funded
Your REALTOR® and the seller's will work together to designate an escrow/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 needs are in order, and you will probably}likely sign all these papers at their officeWe do all the work to work with with the title company to set your date to close. Since you will not need to coordinate this process, you can concentrate on moving, paint colors, carpet, and all the details of getting a new house.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving in! The Mortgage Advisors LLC is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call The Mortgage Advisors LLC at 303.979.1822. It's our job to answer lending questions, so we're happy to help!