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

Make no mistake, there's a lot to do in oder to get a mortgage loan. You wouldn't be here on our website if you could fill out a one-page mortgage application and receive the best 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 home loan involves four major steps.

Step one: Decide on your maximum loan amount

This is a function of a couple things. 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? 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: complete a pre-qualification

This is where Ward Kilduff Mortgage can begin to save you money. You will give us info on your current job, assets, and your 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. 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! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're shopping for your new house with your real estate agent, we find the best program for you.

Step three: apply for your loan

Once you have made an offer and it's been accepted, it's time to apply for the loan. It's very easy, and you can do it online, 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

The real estate agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to make sure all the papers your lender requires are avaiailable, and you will probably}likely sign everything at this company's officeWe work with with this company on your date of closing. Since you won't have to coordinate this process, you get to think about moving logistics, painting, carpet, and the fun parts of getting a new house.

You've answered some few questions, given us lots of information, applied , and Before you know it, you'll be moving! We do the mortgage legwork so you can focus on finding your new home.

Have questions about the loan process? Call Ward Kilduff Mortgage at (860) 658-7100. Ward Kilduff Mortgage answers loan process questions every day.

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