The Loan Process: an Overview

There's little doubt that getting a mortgage is a complicated process. You would not be researching mortgage loans if you could 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.

Getting a loan involves four major steps.

Step one: Decide on your maximum loan amount

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. 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: pre-qualify for your loan

This is where the rubber meets the road and Nationwide Home Loans can really save you money. You will supply info on your current job, assets, and residence history. You'll supply information on your employment, asset, and residence history. We get your permission to pull your credit score and report. We'll go over this info then will provide a pre-qualification 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 looking for a new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed an offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our website. When the time is right, we'll order an appraisal of your new home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to ensure all the papers your lender will require are in order, and you'll probably}likely sign all these papers at their officeWe coordinate with this company on your date to close. Because you won't need to worry with this coordination, you can think about moving logistics, paint colors, new carpet, and all the details of moving into a new house.

You've answered a few questions, provided detailed information, applied online, and Before you know it, you're moving in! Nationwide Home Loans 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 Nationwide Home Loans at 5626935048. Nationwide Home Loans answers loan process questions every day.

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Nationwide Home Loans

NMLS #238531| CA BRE #01017101

8152 Painter Ave., Ste 200
Whittier, CA 90602-3760