About the Loan Process

There is no doubt ; getting a mortgage loan is a complex process. You would not be looking up loan information if it were possible to get a mortgage loan in one day with a simple application. But Tenby J. Dahman The Dahman Team does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in obtaining a mortgage loan.

Step one: determine how much you can borrow

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. 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: complete a pre-qualification

This step is where Tenby J. Dahman The Dahman Team can begin to save you money. You will provide information about your current job, your assets, and residence history. You'll give us your employment, asset, and residence history information. We pull your credit score and report. After we've reviewed this information, we'll provide a pre-qualificaiton letter. Handle it with care — it can be a great tool when you make your offer! Your REALTOR® will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're deciding on your new home, we are looking for the loan that best fits your needs.

Step three: apply now! We make it easy

After you've made the offer and the sellers accept it, you should apply for the loan. Applying for your loan could not get much easier; you can apply from the comfort of your home right here on our site. At the end of this step, we'll order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will work together to designate a title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to ensure all the papers your lender needs are in order, and you will probably}likely sign everything at their officeWe do all the work to work with with this company on your date to close. Because you will not have to coordinate this process, you can concentrate on moving, if you're going to repaint, carpet, and all the details of getting a new home.

You've answered some few questions, provided lots of information, applied , and Before you know it, you're moving! Tenby J. Dahman The Dahman Team 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 The Dahman Team at 3038627760. It's our job to answer lending questions, so we're happy to help!