The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps
There's no question that getting a mortgage is a complex process. You wouldn't be visiting our site if you could complete a simple application and get a great loan check cut the same day. But Greystone Loans, Inc. 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: 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 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 is where the process really begins and Greystone Loans, Inc. can really save you money. You will provide details about your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). After we've reviewed your information, we'll provide you with a pre-qualificaiton letter. Handle it with care — it is a great tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new house with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
After you've made the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not 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 applied for your loan, we'll order a professional appraisal on the home.
Step four: funding
The real estate agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to ensure all the papers your lender will need are in order, and you will probably}likely sign all these papers at this company's officeWe coordinate with this company on your date to close. Since you won't need to worry with this coordination, you get to concentrate on the move, paint colors, carpet, and the details involved in getting your new home.
You've answered some few questions, given us lots of information, applied online, and before you know it, you are deciding when to move in! Greystone Loans, Inc. is a mortgage specialist; you're not — so we do the work. Doesn't that sound nice?