An Overview of the Loan Process
Make no mistake, there's quite a lot to do in oder to get a mortgage loan. You wouldn't be looking up loan information if you could get a loan in one day by filling out a simple application. But Lear Financial Group LLC.
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: Decide on your maximum loan amount
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 Lear Financial Group LLC.
will start saving you money. You will provide info about your employment, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission, of course). After we've finished reviewing the provided information, we'll provide you with a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're shopping for a new home with your real estate agent, we find the best program for you.
Once you've made an offer and it's been accepted, it's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our site. At the end of this step, we'll order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will work together to decide on a title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to make sure all the papers your lender will need are in order, and you'll probably}likely sign everything at their officeWe do all the work to work with with this company on your date to close. Since you won't have to worry about these details, you can think about moving logistics, paint colors, new carpet, and all the details of getting your new home.
You've answered a few questions, provided lots of information, applied online, and Before you know it, you're moving! Lear Financial Group LLC.
is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?
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.