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

There's quite a lot involved in oder to get a mortgage loan. You wouldn't be looking up loan information if you could get a mortgage loan in a single day with a simple application. But Strategic Home Loans, Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a mortgage loan involves four major milestones.

Step one: determine how much you can borrow

A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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 supply info on your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we've reviewed the provided information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be a great tool for buying your new home! Your real estate agent will likely use the pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for the home that's right for you, we are researching the best loan for you.

Step three: apply now! We make it easy

Once you've made an offer and it's been accepted, it's time to complete the loan application. It's very easy, and you can do it online, right here on our website. At the end of this step, we'll order an appraisal of your new home.

Step four: funding

The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll work with this company to make sure all the papers your lender will need are in order, and you'll probably}likely sign everything at their officeWe do all the work to work with with the title company on your date of closing. Since you will not need to worry with this coordination, you can concentrate on moving logistics, painting, new carpet, and the fun parts of moving into your new home.

You've answered a few questions, provided lots of information, applied , and Before you know it, you'll be moving in! Strategic Home Loans, Inc. 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 Strategic Home Loans, Inc. at (805) 496-7500. Strategic Home Loans, Inc. answers loan process questions every day.

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