About the Mortgage Loan Process
No doubt, a lot involved when you get a mortgage. You wouldn't be here on our site if it were possible to fill out a simple loan app and get 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
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? Use the calculators on our website to determine your monthly payment amount. 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: complete a pre-qualification
This is where the rubber meets the road and Nationwide Home Loans can really save you money. You will provide info about your employment, your assets, and residence history. You'll provide your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've finished reviewing this information, we'll give you a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we are finding the best loan program for you.
Step three: apply now! We make it easy
After you've made the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan could not be much easier; you can apply any time right here on our site. When the time is right, we'll order the appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will coordinate to decide on a title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure the papers your lender will require are in order, and you'll probably}likely sign everything at this company's officeWe coordinate with the title company on your closing date. Because you won't need to worry about these details, you can concentrate on moving, paint colors, carpet, and the fun parts of getting your new house.
You've answered some few questions, given us lots of information, applied , and Before you know it, you'll be moving! Nationwide Home Loans is in the business of mortgage loans; you're not — so we take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Nationwide Home Loans at 5626935048. Nationwide Home Loans answers loan process questions every day.