About the Mortgage Loan Process
There is little doubt ; getting a mortgage loan is a complicated process. You wouldn't be visiting our site if you could fill out a simple loan app and receive the best loan funded in one 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.
There are four primary steps involved in obtaining a loan.
Step one: determine how much you can borrow
This is a function of a couple things. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? 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 step is where Georgetown Mortgage can start saving you money. You will provide information on your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We pull your credit score and report. We'll go over all this information then give you a pre-qualification letter. Handle it with care — it is a useful tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. While you're picking out your new home, we're busy researching the loan program that's just right for your situation.
Once you have made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can apply online, right here on our site. Finally, we'll order the appraisal of your new home.
Step four: your loan is funded
Your REALTOR® and the seller's will work together to find a title company to handle the funding of your loan once it's approved. We'll work with this company to make sure the papers your lender needs are avaiailable, and you will probably}likely sign everything at this company's officeWe work with with this company on your date to close. Since you will not have to worry about these details, you get to think about moving, if you're going to repaint, carpet, and all the details of moving into your new house.
You've answered a few questions, given us lots of information, applied online, and Before you know it, you're moving! We do the mortgage legwork so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Georgetown Mortgage at (214) 448-4641. We answer questions about the loan process every day.