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An overview of The Loan Process
There are many steps involving obtaining a home loan: You wouldn't be here on our website if you could fill out
a one-page application and get the best loan for you funded the
same day. What we do is most of the heavy lifting for you, so
you can concentrate on what's important -- preparing to move
into your new home, saving money, or making plans for your home
equity line of credit.
There are four main steps involved in getting a loan. You'll see
that we've made your part in them as easy as possible, and we do
all the work! That's what we're here for.
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Step one: determine how much you can borrow
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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? The first part
you can get a rough idea of by using the calculators on
our website. We'll also help you through different
scenarios by asking a few simple 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. |
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Step two: pre-qualify for your loan
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This is where the rubber meets the road and you save the
most money. You supply information about your
employment, your assets, your residence history, and so
on. We get your permission to run your credit score.
When we review all this information we give you a
Pre-Qualification Letter. |
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Handle it with care -- to a home seller, it's like a suitcase
full of cash! Your realty agent will use your Pre-Qual (as they
may call it) to make the best offer on the home you choose, and
the seller knows you're pre-qualified. It gives you buying
clout! And while you're picking out the home that's right for
you, we're busy finding the loan that's right for you.
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Step three: apply now! We make it easy
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Once you've made an offer and it's been accepted, it's
time to complete the loan application. It couldn't be
easier, and you can do it online, right here at our
website. When the time is right, we'll order an
appraisal of your new home.
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Step four: your loan is funded
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Your realty agent and the seller's will
work together to designate an escrow/title company to
handle the funding of your loan once it's approved.
We'll coordinate with the escrow company to make sure
all the papers your lender will need are in order, and
you'll sign everything at the escrow/title company's
office. |
You've answered a few questions, given us some detailed
information, applied online, and next thing you know, you're
moving in! We're in the business of mortgage loans -- so we
do most of the work. Doesn't that make sense?
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