The Loan Process: an Overview

No doubt, quite a lot to do in oder to get a mortgage loan. You wouldn't be visiting our website if it were possible to fill out a simple application and get an excellent loan check cut in one day. We do 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 how much you can afford

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? You can get a good idea of your preferred payment abount using the calculators on our website. 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 rubber meets the road and you save the most money. You will give us details on your employment, your 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 reviewed your information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out the home that's right for you, we are looking for the best loan program for you.

Step three: apply for your loan

After you've signed the offer and the sellers have accepted, you should apply for the loan. Applying for your loan could not get much easier; you can apply any time 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: your loan is funded

The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to make sure all the papers your lender will need are avaiailable, and you will probably}likely sign everything at this company's officeWe work with with the title company to set your closing date. Since you don't need to coordinate this process, you can think about moving logistics, paint colors, new carpet, and all the details of moving into your new house.

You've answered some few questions, provided detailed information, applied online, and Before you know it, you're moving! 1st Credential Mortgage Inc is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call 1st Credential Mortgage Inc at (281) 778-0805. 1st Credential Mortgage Inc answers loan process questions every day.

Basic Pre-Approval

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