The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
There is no question that getting a mortgage is a complex process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in one day by filling out a simple application. 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
This is a function of a couple things. 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 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 Mortgage Headquarters of Missouri, Inc can really save you money. You will supply details about your current job, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We run your credit score and report. After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. Your REALTOR® should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for your new home, we are researching the best loan for you.
Once you have made an offer and the sellers have accepted, you should apply for the loan. Applying for your loan couldn't be much easier; you can apply online right here on our site. When the time is right, we'll order an appraisal of your new home.
Step four: your loan is funded
The real estate agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to ensure all the papers your lender requires are avaiailable, and you will probably}likely sign everything at their officeWe coordinate with the title company to set your date to close. Since you don't need to worry with this coordination, you can concentrate on the move, if you're going to repaint, new carpet, and the details involved in getting a new home.
You've answered some few questions, given us detailed information, applied online, and before you know it, you are moving in! We take care of the legwork so you can spend your time finding the new home that's right for you.
Have questions about the loan process? Call Mortgage Headquarters of Missouri, Inc at 5733029990. It's our job to answer lending questions, so we're happy to help!