About the Loan Process
There can be little question ; getting a mortgage loan is a complicated process. You wouldn't be looking up loan information if it were possible to get a loan in a single day by filling out a simple application. But Nationwide Home Loans does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four primary steps involved in obtaining a loan.
Step one: Decide how much you can afford
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? 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 step is where Nationwide Home Loans can begin to save you money. You will supply information about your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission, of course). After we've finished reviewing the provided information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it can be a great tool for buying your new home! Your REALTOR® will use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're looking for a new house with your real estate agent, we find the best program for you.
After you've made an offer and the sellers accept it, you should apply for the loan. Applying for a loan could not get much easier; you can apply from the comfort of your home right here on our site. After the offer has been accepted and you have applied for your loan, we will order the professional appraisal on the home.
Step four: your loan is funded
The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure the papers your lender will need are in order, and you'll probably}likely sign all these papers at their officeWe work with with this company on your date to close. Because you will not need to coordinate this process, you get to concentrate on moving logistics, if you're going to repaint, carpet, and the details involved in getting a new home.
You've answered a few questions, given us detailed information, applied , and the next thing you know, you're moving in! Nationwide Home Loans is in the business of mortgage loans; you're not — so we take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call Nationwide Home Loans at 5626935048. We answer questions about the loan process every day.