How the Mortgage Loan Process Works

There can be little question that getting a mortgage is a complex process. You wouldn't be looking up loan information if it were possible to 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 home loan involves four major milestones.

Step one: Decide how much you can afford

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 the process really begins and Strategic Home Loans, Inc. can really save you money. You will supply details on your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission, of course). We will review all this info and will give you a letter of pre-qualification. Be careful with this letter — it is a useful tool when you make your offer! Your REALTOR® should use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're picking out your new home, we are researching the loan that best fits your needs.

Step three: apply for your loan

Once you have made an offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can apply online, right here on our site. Finally, we'll order the appraisal of your new home.

Step four: your loan is funded

Your REALTOR® and the seller's will coordinate to designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with this company to make sure all the papers your lender will require are in order, and you will probably}likely sign all these papers at their officeWe work with with this company to set your date of closing. Because you will not need to coordinate this process, you get to concentrate on moving logistics, painting, carpet, and the details involved in moving into your new house.

You've answered some few questions, provided detailed information, applied , and Before you know it, you'll be moving in! Strategic Home Loans, Inc. is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?

Have questions about the loan process? Call Strategic Home Loans, Inc. at (805) 496-7500. It's our job to answer lending questions, so we're happy to help!

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