About the Mortgage Loan Process
There's quite a lot to do in oder to get a mortgage. You would not be looking up loan information if you could get a mortgage loan in one day by filling out a simple application. But Donald Stiefer does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in getting a mortgage loan.
Step one: determine how much you can borrow
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 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: pre-qualify for your loan
This step is where Donald Stiefer will begin saving you money. You will supply details on your current job, your assets, and your residence history. You'll give us information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we've reviewed your information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new home with your real estate agent, we find the best program for you.
After you've 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. Finally, we'll order the appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to designate 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 all these papers at their officeWe do all the work to coordinate with this company on your date to close. Because you don't need to worry about these details, you get to concentrate on moving, if you're going to repaint, carpet, and the fun parts of moving into a new house.
You've answered a few questions, provided detailed information, applied , and before you know it, you are moving in! Donald Stiefer is in the business of loans; you're not — so we do the work. Doesn't that sound nice?
Have questions about the loan process? Call Donald Stiefer at 5806959369. Donald Stiefer answers loan process questions every day.