About the Loan Process
There can be no question ; getting a mortgage is a complex process. You wouldn't be researching mortgage loans if you could get a mortgage 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 mortgage loan involves four major milestones.
Step one: Decide on your maximum loan amount
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? 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: pre-qualify for your loan
This is where the rubber meets the road and you save the most money. You will supply information on your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. When we review this information we provide a pre-qualification letter. Handle it with care — it is a useful tool for buying your new home! Your agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're shopping for the home that's right for you, we're busy researching the loan that's right for your unique situation.
Step three: apply now! We make it easy
Once you have signed an offer and the sellers accept it, it's time to apply for the loan. Applying for a loan could not get much easier; you can apply online right here on our site. When the time is right, we will order the appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan once it's approved. We'll work with this company to ensure the papers your lender will require are in order, and you'll probably}likely sign all these papers at their officeWe work with with this company to set your date to close. Since you won't need to worry with this coordination, you can concentrate on the move, painting, carpet, and all the details of moving into a new home.
You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving! We take care of all the loan details so you can spend your time finding your new home.