About the Loan Process
No doubt, quite a lot to do when you get a mortgage. You wouldn't be here on our site if it were possible to fill out a simple loan app and get the best loan check cut in one day. 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 important steps involved in getting a loan.
Step one: Decide how much you can afford
A couple of factors determine this amount. 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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 Financial Edge Mortgage Corp. can start saving you money. You will provide details on your current job, your assets, and residence history. You'll provide 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. Be careful with this letter — it can be a useful tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for your new house with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have made the offer and the sellers have accepted, it's time to complete the loan application. Applying for your loan couldn't get much easier; you can apply from the comfort of your home right here on our site. 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: funding
Your REALTOR® and the seller's will work together to decide on an escrow/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 will probably}likely sign all these papers at their officeWe work with with this company on your closing date. Because you will not need to coordinate this process, you can concentrate on the move, painting, carpet, and the fun parts of moving into your new house.
You've answered a few questions, given us detailed information, applied , and before you know it, you're moving in! We take care of the mortgage legwork so you can spend your time finding your new home.
Have questions about the loan process? Call Financial Edge Mortgage Corp. at 425-508-9988. It's our job to answer lending questions, so we're happy to help!