The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
There's a lot involved when you get a mortgage. You wouldn't be visiting our website if it were possible to complete a one-page loan app and get the best loan funded in one day. 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 on your maximum loan amount
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. 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: pre-qualify for your loan
This step is where Greystone Loans, Inc. can start saving you money. You will supply info on your employment, your assets, and your residence history. You'll provide 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 reviewed this information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be a useful 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 shopping for the home that's right for you, we're busy finding the loan that's right for your unique situation.
Step three: apply now! We make it easy
Once you have signed the offer and the sellers have accepted, it's time to apply for the loan. Applying for a loan could not get much easier; you can apply from the comfort of your home right here on our site. At the end of this step, we'll order the appraisal of your new home.
Step four: your loan is funded
Your real estate agent 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 all the papers your lender needs are in order, and you will probably}likely sign everything at their officeWe do all the work to coordinate with the title company to set your date to close. Since you won't need to worry with this coordination, you get to think about moving logistics, if you're going to repaint, new carpet, and the details involved in moving into a new home.
You've answered some few questions, given us detailed information, applied online, and Before you know it, you'll be moving in! Greystone Loans, Inc. is in the business of loans; you're not — so we do the work. Doesn't that sound nice?
Have questions about the loan process? Call Greystone Loans, Inc. at 9094671090. We answer questions about the loan process every day.