The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps
Shopping for a mortgage loan? We'd be thrilled to answer your questions about our mortgage offerings! Call us at (800) 506-0632. Ready to begin? Apply Online Now
There can be little doubt that getting a mortgage loan is a complicated process. You would not be researching mortgage loans if you could get a loan in a single day by filling out a simple application. But Best Capital Funding does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a 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? 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 amount 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 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 details on your current job, assets, and residence history. You'll supply information on your employment, asset, and residence history. We run your credit score and report. We will go over all this info then will provide a pre-qualification letter. Handle it with care — it can be a useful tool when you make your offer! Your agent will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for a new house with your real estate agent, we find the best program for you.
Once you've made an offer and the sellers have accepted, it's time to complete the loan application. It's very easy, and you can do it online, right here on our website. After the offer has been accepted and you have submitted your loan application, we'll order the 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 handle the funding of your loan. We'll work with this company to make sure the papers your lender will need are in order, and you'll probably}likely sign all these papers at their officeWe coordinate with the title company to set your date to close. Since you don't need to worry with this coordination, you can concentrate on moving, painting, carpet, and the details involved in moving into your new home.
You've answered a few questions, given us lots of information, applied , and Before you know it, you'll be moving! Best Capital Funding is in the business of loans; you're not — so we do the work. Makes sense, doesn't it??
Have questions about the loan process? Call Best Capital Funding at (800) 506-0632. We answer questions about the loan process every day.