How the Loan Process Works
No doubt, a lot involved when you get a mortgage. You would not be researching mortgage loans if it were possible to get a mortgage loan in one day with a simple application. 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.
There are four important steps involved in obtaining a mortgage loan.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. 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? 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 Lear Financial Group LLC.
can start to save you money. You will give us information on your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We pull your credit score and report. We'll review this information then provide a pre-qualification letter. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for a new house with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have signed the offer and the sellers have accepted, you should apply for the loan. Applying for a loan couldn't get much easier; you can apply any time right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order a professional appraisal on the home.
Step four: funding
The agents will find a title company to handle the "funding" and closing of the sale. We'll coordinate with this company to ensure the papers your lender will need are in order, and you will probably}likely sign everything at this company's officeWe coordinate with the title company on your closing date. Since you will not have to worry with this coordination, you get to 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, given us lots of information, applied online, and Before you know it, you're moving! We take care of the mortgage legwork so you can focus on finding your new home.
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.