The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps
Searching for a mortgage loan? We can assist you! Call us at (772) 252-6724. Ready to get started? Apply Here
There's no doubt that getting a mortgage loan is a complex process. You would not be looking up loan information if it were possible to get a mortgage loan in a single day with a simple application. But Hometown Financial Services 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
A couple of factors determine this amount. 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? You can get a good idea of your preferred payment amount using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. 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 step is where Hometown Financial Services can start saving you money. You will provide info about your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. After we've finished reviewing your information, we'll provide you with a pre-qualification 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 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 your loan couldn't be much easier; you can apply online right here on our site. After the seller has accepted your offer and you have applied for your loan, we'll order the professional appraisal on the home.
Step four: your loan is funded
Your real estate agent and the seller's will work together to designate an escrow/title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to make sure the papers your lender will need are available, and you will probably}likely sign all these papers at their officeWe coordinate with this company to set your closing date. Because you will not need to worry with this coordination, you get to think about moving, paint colors, carpet, and all the details of moving into a new home.
You've answered some few questions, provided detailed information, applied online, and the next thing you know, you're deciding when to move in! Hometown Financial Services is a mortgage specialist; you're not — so we take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Hometown Financial Services at (772) 252-6724. It's our job to answer lending questions, so we're happy to help!