About the Loan Process
Make no mistake, there's a lot involved when you get a mortgage loan. You wouldn't be visiting our website if you could fill out a simple loan app and get a great loan funded in one day. But Lear Financial Group LLC.
does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a home loan involves four major milestones.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. 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: complete a pre-qualification
This is where the rubber meets the road and Lear Financial Group LLC.
can really save you money. You will supply details about your employment, assets, and residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). When we review all this information we will provide a letter of pre-qualification. With this letter, your real estate agent will negotiate the best deal for your new home. While you're picking out your new home, we're busy researching the loan program that's just right for you.
After you've made the offer and the sellers have accepted, you should apply for the loan. 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 submitted your loan application, we'll order a professional appraisal on the home.
Step four: your loan is funded
Your REALTOR® and the seller's will coordinate to decide on an escrow/title company to take care of the funding of your loan. We'll work with this company to ensure all the papers your lender needs are in order, and you'll probably}likely sign all these papers at this company's officeWe work with with the title company on your date of closing. Since you won't have to worry about these details, you can think about moving logistics, if you're going to repaint, new carpet, and the fun parts of moving into your new house.
You've answered some few questions, provided lots of information, applied online, and Before you know it, you'll be moving in! We take care of all the loan details so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Lear Financial Group LLC.
at 214-869-7339. Lear Financial Group LLC.
answers loan process questions every day.