The Loan Process: an Overview
There's quite a lot involved in oder to get a mortgage. You wouldn't be visiting our site if it were possible to complete a simple loan app and receive a great loan check cut in one day. But Sublime Financial does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a 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? 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. 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 Sublime Financial can really save you money. You will provide info on your employment, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Your REALTOR® will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for your new house with your REALTOR™, we find the best program for you.
Once you have made the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't be much easier; you can apply right here on our site. At the end of this step, we'll order the appraisal of your new home.
Step four: your loan is funded
The agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with this company on your date of closing. Because you don't need to worry with this coordination, you get to concentrate on the move, painting, carpet, and the details involved in getting a new house.
You've answered some few questions, given us detailed information, applied online, and the next thing you know, you are moving in! Sublime Financial is in the business of mortgage loans; you're not — so take care of the details. Doesn't that make sense?
Have questions about the loan process? Call Sublime Financial at 9722920448. Sublime Financial answers loan process questions every day.