The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps

There's no question ; getting a mortgage is a complex process. You wouldn't be visiting our site if it were possible to complete a simple application and receive an excellent loan check cut the same day. But Strategic Home Loans, Inc. 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. 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: pre-qualify for your loan

This is where the rubber meets the road and Strategic Home Loans, Inc. can really save you money. You will provide info on your employment, your assets, and residence history. You'll supply your employment, asset, and residence history information. We run your credit score and report. After we've reviewed your information, we'll provide you with a pre-qualificaiton letter. Your agent will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're deciding on the home that's right for you, we're busy finding the loan program that's just right for you.

Step three: apply now! We make it easy

After you've 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. At the end of this step, we'll order the appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will work together to find a title company to take care of the funding of your loan. We'll work with this company to ensure the papers your lender will need are avaiailable, and you will probably}likely sign everything at this company's officeWe work with with this company to set your date to close. Because you won't need to worry with this coordination, you get to concentrate on moving logistics, painting, carpet, and the details involved in getting your new home.

You've answered a few questions, given us detailed information, applied online, and the next thing you know, you are moving in! We do the mortgage legwork so you can spend your time finding your new home.

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

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