The Mortgage Loan Process: an Overview
There's quite a lot to do in oder to get a mortgage. You wouldn't be visiting our site if it were possible to fill out a simple loan application and get a great 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 loan involves four major steps.
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? 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 is where Tenby J. Dahman will begin saving you money. You will give us information about your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission, of course). After we've finished reviewing the provided information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for a new home with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you've made the 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 on our site. After the seller has accepted your offer and you have applied for your loan, we'll order the professional appraisal on the home.
Step four: your loan is funded
Your REALTOR® and the seller's will work together to find a title company to handle the funding of your loan. We'll work with this company to ensure all the papers your lender needs are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company on your closing date. Because you won't have to coordinate this process, you get to think about the move, paint colors, new carpet, and the fun parts of getting your new house.
You've answered some few questions, provided lots of information, applied online, and the next thing you know, you are deciding when to move in! Tenby J. Dahman is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Tenby J. Dahman at (303) 862-7760. It's our job to answer lending questions, so we're happy to help!