The Mortgage Loan Process: an Overview
No doubt, a lot to do when you get a mortgage. You wouldn't be here on our site if you could complete a simple loan application and receive an excellent loan check cut in one day. But Ward Kilduff Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major steps.
Step one: determine how much you can borrow
A couple of factors determine this amount. How much of a monthly payment can you afford? 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 is where the process really begins and Ward Kilduff Mortgage can really save you money. You will supply information about your employment, assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (with your permission. When we review all this information we will give you a letter of pre-qualification. 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 your new home with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have made an offer and the sellers have accepted, it's time to complete the loan application. Applying for your loan couldn't get much easier; you can apply right here on our site. At the end of this step, we will 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 a 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 this company's officeWe do all the work to work with with this company to set your date of closing. Because you will not have to coordinate this process, you get to concentrate on moving, paint colors, carpet, and the details involved in getting a new house.
You've answered some few questions, provided detailed information, applied online, and before you know it, you're deciding when to move in! Ward Kilduff Mortgage is a mortgage specialist; you're not — so we do the work. Makes sense, doesn't it??
Have questions about the loan process? Call Ward Kilduff Mortgage at (860) 658-7100. It's our job to answer lending questions, so we're happy to help!