How the Mortgage Loan Process Works

No doubt, quite a lot to do in oder to get a mortgage loan. You wouldn't be here on our website if you could complete a one-page loan app and receive the best loan check cut the same 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.

Getting a mortgage loan involves four major milestones.

Step one: Decide on your maximum loan amount

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? 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: complete a pre-qualification

This is where the rubber meets the road and Strategic Home Loans, Inc. can really save you money. You will provide details on your current job, assets, and your 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. With this letter, your real estate agent 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 looking for the best loan program for you.

Step three: apply now! We make it easy

After you've made the offer and the sellers accept it, it's time to apply for the loan. Applying for your loan could not get much easier; you can apply right here on our site. Finally, we'll order an appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will work together to decide on a title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to make sure the papers your lender needs are in order, and you will probably}likely sign all these papers at their officeWe coordinate with this company to set your closing date. Because you won't need to coordinate this process, you can think about the move, paint colors, carpet, and all the details of getting a new house.

You've answered a few questions, provided detailed information, applied online, and the next thing you know, you're deciding when to move in! Strategic Home Loans, Inc. is in the business of loans; you're not — so we do the work. Doesn't that sound nice?

Have questions about the loan process? Call Strategic Home Loans, Inc. at (805) 496-7500. We answer questions about the loan process every day.

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