The Loan Process: an Overview

There's little question ; getting a mortgage is a complicated process. You wouldn't be visiting our site if you could complete a simple mortgage application and receive the best loan funded the same day. But Strategic Home Loans, Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in getting a mortgage loan.

Step one: Decide how much you can afford

A couple of factors determine this amount. What kind of monthly payment are you looking for? 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 Strategic Home Loans, Inc. will begin to save you money. You will supply details on your employment, assets, and your residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). When we review this info we give you a pre-qualification letter. Your REALTOR® will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're looking for a new house with your agent, we find the best program for you.

Step three: apply for your loan

Once you have signed the offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can do it online, right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: funding

Your REALTOR® and the seller's will work together to designate a title company to take care of the funding of your loan. We'll coordinate with this company to ensure the papers your lender needs are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with the title company on your date to close. Since you won't have to worry about these details, you get to concentrate on the move, if you're going to repaint, new carpet, and the details involved in getting your new house.

You've answered a few questions, provided detailed information, applied online, and before you know it, you're deciding when to move in! We take care of the mortgage legwork so you can spend your time finding the new home that's right for you.

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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