The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps

There is no question ; getting a mortgage loan is a complicated process. You wouldn't be here on our website if you could complete a simple loan app and receive a great loan funded the same day. We do 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 primary steps involved in obtaining 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? 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. can begin to save you money. You will supply information about your employment, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission, of course). After we have gone over this information we will provide a pre-qualification letter. Be careful with this letter — it can be a great tool for buying your new home! Your real estate agent will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're deciding on your new home, we're busy researching the loan that's just right for you.

Step three: apply now! We make it easy

After you've made the offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can apply online, right here on our website. Finally, we'll order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will work together to find a title company to take care of the funding of your loan. We'll work with this company to make sure all the papers your lender needs are in order, and you will probably}likely sign everything at their officeWe do all the work to work with with the title company on your date to close. Because you don't need to worry about these details, you get to think about moving, if you're going to repaint, new carpet, and the fun parts of moving into your new home.

You've answered some few questions, given us lots of information, applied , and the next thing you know, you are moving in! We take care of all the loan details 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 9094671090. It's our job to answer lending questions, so we're happy to help!