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

There's a lot to do in oder to get a mortgage loan. You wouldn't be visiting our website if it were possible to fill out a simple loan app and get an excellent loan funded the same day. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a loan involves four major steps.

Step one: determine how much you can borrow

This is a function of a couple things. How much of a monthly payment can you afford? 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. 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 Ward Kilduff Mortgage will begin saving you money. You will supply details about 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 run your credit score and report. After we've reviewed the provided information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent 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 the offer and it's been accepted, you should complete the loan application. It couldn't be easier, and you can do it online, right here on our site. Finally, we'll order the appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will coordinate to find a title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to make sure the papers your lender requires are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to work with with the title company on your closing date. Since you won't have to coordinate this process, you get to think about moving, paint colors, new carpet, and the details involved in moving into a new home.

You've answered a few questions, given us lots of information, applied online, and Before you know it, you're moving! Ward Kilduff Mortgage is a mortgage specialist; you're not — so take care of the details. Makes sense, doesn't it??

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

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