About the Loan Process
There's little doubt that getting a mortgage loan is a complicated process. You wouldn't be visiting our website if it were possible to fill out a one-page loan app and get the best loan check cut the same day. We do 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 main steps involved in getting a mortgage loan.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. 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? 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 Nationwide Home Loans will start to save you money. You will give us information about your current job, assets, and your residence history. You'll give us information on your employment, asset, and residence history. We pull your credit score and report. After we've reviewed the provided information, we'll provide you with 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 the home that's right for you, we are looking for the best loan program for you.
After you've made the offer and the sellers have accepted, you should apply for the loan. Applying for a loan couldn't get much easier; you can apply from the comfort of your home right here on our site. Finally, we'll order the appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will coordinate to find a title company to handle the funding of your loan once it has been approved. We'll coordinate with this company to make sure the papers your lender will need are in order, and you will probably}likely sign everything at this company's officeWe do all the work to work with with this company to set your date of closing. Because you won't have to coordinate this process, you can think about moving, painting, new carpet, and the details involved in moving into a new house.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving in! Nationwide Home Loans is in the business of loans; 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. We answer questions about the loan process every day.