The Mortgage Loan Process: an Overview
There's little question ; getting a mortgage is a complex process. You would not be researching mortgage loans if you could get a loan in one day with a simple application. But Carter Financial Solutions does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major steps.
Step one: Decide on your maximum loan amount
This is a function of a couple things. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? Use the calculators on our website to determine your monthly payment amount. 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: pre-qualify for your loan
This is where Carter Financial Solutions can start to save you money. You will provide information about your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). After we've reviewed the provided information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it is a great tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're deciding on your new home, we are researching the best loan program for you.
Step three: apply now! We make it easy
Once you have made the offer and it's been accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our website. Finally, we will order an appraisal of your new home.
Step four: your loan is funded
The real estate agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with the title company to set your date of closing. Because you will not need to worry with this coordination, you can concentrate on moving, if you're going to repaint, carpet, and the details involved in moving into your new house.
You've answered some few questions, given us lots of information, applied , and Before you know it, you're moving in! Carter Financial Solutions is a mortgage specialist; you're not — so we take care of the details. Doesn't that make sense?
Have questions about the loan process? Call Carter Financial Solutions at 8668408745. We answer questions about the loan process every day.