The Mortgage Loan Process: an Overview
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In the market for a mortgage? We will be glad to assist you! Call us at 877-210-6899. Ready to get started? Apply Online Now.
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Make no mistake, there's a lot to do in order to get a mortgage. You wouldn't be researching mortgage loans if you could get a loan in one day by filling out a simple application. We do most of 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 main steps involved in obtaining a mortgage loan.
Step one: Decide how much you can afford
A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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 step is where Dove Lending Group, Inc. can start saving you money. You will provide information about your employment, assets, and your residence history. You'll supply information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission, of course). After we've finished reviewing your information, we'll give you a pre-qualification letter. Be careful with this letter — it is a useful tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new home with your agent, we find the best program for you.
Once you've made the offer and it's been 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 applied for your loan, we'll order the professional appraisal on the home.
Step four: funding
Your real estate agent and the seller's will work together to find a title company to handle the funding of your loan. We'll coordinate with this company to ensure all the papers your lender needs are available, and you'll probably}likely sign all these papers at this company's officeWe do all the work to work with with the title company on your date of closing. Because you don't need to worry about these details, you can concentrate on moving, paint colors, new carpet, and the fun parts of moving into your new house.
You've answered some few questions, provided lots of information, applied , and the next thing you know, you are deciding when to move in! Dove Lending Group, Inc. 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 Dove Lending Group, Inc. at 877-210-6899. It's our job to answer lending questions, so we're happy to help!