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

Make no mistake, there's quite a lot to do when you get a mortgage. You wouldn't be looking up loan information if it were possible to get a 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.

There are four primary steps involved in obtaining a loan.

Step one: Decide how much you can afford

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? 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 step is where Greystone Loans, Inc. will start to save you money. You will supply info about your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. After we've finished reviewing the provided information, we'll provide a pre-qualificaiton letter. Handle it with care — it is a great 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. While you're picking out the home that's right for you, we're busy researching the loan program that's right for you.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers accept it, it's time to apply for the loan. Applying for a loan couldn't get much easier; you can apply any time right here on our site. At the end of this step, we will order an appraisal of your new home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to ensure all the papers your lender will require are avaiailable, and you will probably}likely sign all these papers at their officeWe work with with the title company on your closing date. Since you don't have to worry about these details, you get to concentrate on the move, painting, carpet, and all the details of getting your new home.

You've answered a few questions, provided lots of information, applied , and the next thing you know, you're moving in! Greystone Loans, Inc. is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call Greystone Loans, Inc. at 9094671090. We answer questions about the loan process every day.