How the Mortgage Loan Process Works
There's little question that getting a mortgage loan is a complex process. You wouldn't be visiting our website if you could complete a one-page application and receive a great loan funded the same day. But Ward Kilduff Mortgage does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four main steps involved in getting a mortgage loan.
Step one: determine how much you can borrow
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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 process really begins and Ward Kilduff Mortgage can really save you money. You will supply information on your current job, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've reviewed this information, we'll give you a pre-qualificaiton letter. 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 house 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 it's been accepted, it's time to complete the loan application. Applying for your loan couldn't get much easier; you can apply any time right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order a professional appraisal on the home.
Step four: your loan is funded
The agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to ensure the papers your lender will require are in order, and you will probably}likely sign everything at this company's officeWe do all the work to work with with the title company on your date to close. Since you will not need to worry about these details, you get to think about moving logistics, painting, carpet, and the details involved in moving into a new home.
You've answered a few questions, provided detailed information, applied , and before you know it, you are moving in! Ward Kilduff Mortgage is a mortgage specialist; you're not — so we take care of the details. Doesn't that make sense?
Have questions about the loan process? Call Ward Kilduff Mortgage at (860) 658-7100. We answer questions about the loan process every day.