About the Mortgage Loan Process
Looking for a mortgage loan? We can help! Give us a call today at (408) 255-3978. Ready to get started? Apply Now
Make no mistake, there's a lot to do in order to get a mortgage loan. You wouldn't be here on our website if you could fill out a one-page loan app and receive an excellent loan funded the same day. But Real Estate Loan 4 U 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? 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. 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 you save the most money. You will give us information about your employment, your assets, and your residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. When we review this information we give you a pre-qualification letter. Your agent will use your 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 a new home with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
After you've made the offer and the sellers have accepted, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our website. 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
The real estate 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 need are available, and you'll probably}likely sign all these papers at this company's officeWe work with with the title company to set your date of closing. Because you will not need to coordinate this process, you get to think about the move, if you're going to repaint, new carpet, and all the details of getting your new house.
You've answered some few questions, provided detailed information, applied , and before you know it, you're deciding when to move in! Real Estate Loan 4 U is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??
Have questions about the loan process? Call Real Estate Loan 4 U at (408) 255-3978. It's our job to answer lending questions, so we're happy to help!