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The Mortgage Loan Process: an Overview

There's no doubt ; getting a mortgage is a complex process. You wouldn't be researching mortgage loans if you could get a loan in one day with a simple application. But Greystone Loans, Inc. 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. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? 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. 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 is where Greystone Loans, Inc. will begin to save you money. You will supply information about your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we've reviewed the provided information, we'll provide you with a pre-qualificaiton letter. With this letter, your real estate agent 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.

Step three: apply for your loan

Once you've made an offer and it's been accepted, you should apply for the loan. Applying for a loan couldn't be much easier; you can apply from the comfort of your home right here on our site. After the offer has been accepted and you have applied for your loan, 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 of the sale. We'll work with this company to make sure all the papers your lender needs are avaiailable, and you will probably}likely sign everything at their officeWe do all the work to coordinate with the title company on your date to close. Since you don't have to coordinate this process, you can concentrate on moving logistics, painting, new carpet, and the fun parts of getting a new house.

You've answered some few questions, provided detailed information, applied , and Before you know it, you'll be moving! We take care of the legwork so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Greystone Loans, Inc. at (909) 467-1090. Greystone Loans, Inc. answers loan process questions every day.

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