The Four Steps of the Loan Process:The Loan Process: Four Steps
There's a lot involved when you get a mortgage loan. You wouldn't be researching mortgage loans if you could get a mortgage loan in a single day by filling out a simple application. But Hook and Ladder Lending - powered by Sublime Financial, 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
A couple of factors determine this amount. How much of a monthly payment can you afford? 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. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.
Step two: pre-qualify for your loan
This is where the process really begins and Hook and Ladder Lending - powered by Sublime Financial, LLC can really save you money. You will supply info on your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). We'll go over all this info then give you a letter of pre-qualification. Be careful with this letter — it is a great tool when you make your offer! Your agent should use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for your new house with your agent, we find the best program for you.
Once you have made the offer and the sellers accept it, you should apply for the loan. Applying for your loan could not be much easier; you can apply online right here on our site. When the time is right, we will order the appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will coordinate to designate an escrow/title company to handle the funding of your loan once it's approved. We'll work with this company to ensure the papers your lender needs are avaiailable, and you will probably}likely sign everything at this company's officeWe coordinate with the title company to set your date to close. Because you won't need to worry with this coordination, you can concentrate on moving, paint colors, carpet, and the fun parts of getting your new home.
You've answered some few questions, provided lots of information, applied , and before you know it, you are moving in! Hook and Ladder Lending - powered by Sublime Financial, LLC is in the business of loans; you're not — so we take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call Hook and Ladder Lending - powered by Sublime Financial, LLC at 9722920448. We answer questions about the loan process every day.