The Mortgage Loan Process: an Overview

Make no mistake, there's a lot involved in oder to get a mortgage. You wouldn't be visiting our site if it were possible to fill out a simple loan app and receive the best loan check cut 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? 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 rubber meets the road and Greystone Loans, Inc. can really save you money. You will give us information about your current job, assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. We will go over this info then provide a pre-qualification letter. Handle it with care — it is a great tool when you make your offer! Your agent should use the 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 looking for a 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, it's time to apply for the loan. Applying for a loan could not be much easier; you can apply right here on our site. After the offer has been accepted and you have submitted your loan application, we will order the professional appraisal on the home.

Step four: funding

Your real estate agent and the seller's will coordinate to decide on an escrow/title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to ensure all the papers your lender needs are in order, and you will probably}likely sign everything at this company's officeWe coordinate with this company on your date of closing. Since you will not have to coordinate this process, you get to concentrate on moving logistics, if you're going to repaint, carpet, and the fun parts of getting your new home.

You've answered some few questions, provided detailed information, applied online, and the next thing you know, you're moving in! We do the legwork so you can focus on 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!

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Greystone Loans, Inc.

Opening Doors to the American Dream since 1992

14726 Ramona Ave
Chino, CA 91710-5332