About the Mortgage Loan Process
Make no mistake, there's a lot involved in oder to get a mortgage loan. You wouldn't be visiting our site if it were possible to fill out a one-page loan application and receive the best loan check cut in one day. But Tenby J. Dahman The Dahman Team does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major milestones.
Step one: Decide how much you can afford
This is a function of a couple things. 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? 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. 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 the rubber meets the road and you save the most money. You will give us information on your current job, assets, and your residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. When we review all this info we will give you a letter of pre-qualification. Handle it with care — it is a useful tool for buying your new home! 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. The pre-qual letter gives you buying clout! While you're looking for your new house with your REALTOR™, we find the best program for you.
Once you have signed the offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can do it online, right here on our website. When the time is right, we'll order an appraisal of your new home.
Step four: your loan is funded
The agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure the papers your lender will require are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to coordinate with the title company to set your date of closing. Since you will not need to coordinate this process, you get to think about moving logistics, if you're going to repaint, carpet, and the details involved in getting a new home.
You've answered some few questions, given us lots of information, applied , and the next thing you know, you are moving in! Tenby J. Dahman The Dahman Team is a mortgage specialist; 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. We answer questions about the loan process every day.