An Overview of the Mortgage Loan Process
There's quite a lot involved when you get a mortgage. You wouldn't be researching mortgage loans if it were possible to get a loan in one day by filling out a simple application. 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.
Getting a mortgage loan involves four major milestones.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. 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. 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.
Step two: complete a pre-qualification
This step is where Secure Mortgage Company will start saving you money. You will supply info on your current job, assets, and residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. After we've finished reviewing your information, we'll give you a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for your new home with your REALTOR™, we find the best program for you.
Once you have made an offer and the sellers have accepted, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order the professional appraisal on the home.
Step four: funding
The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to ensure the papers your lender will need are avaiailable, and you will probably}likely sign everything at this company's officeWe coordinate with this company on your closing date. Because you don't have to worry about these details, you get to concentrate on moving, paint colors, carpet, and the fun parts of moving into a new house.
You've answered some few questions, provided detailed information, applied online, and Before you know it, you'll be moving! We take care of all the loan details so you can spend your time finding your new home.
Have questions about the loan process? Call Secure Mortgage Company at (713) 667-5472. It's our job to answer lending questions, so we're happy to help!