The Loan Process: an Overview
There's quite a lot to do in oder to get a mortgage loan. You wouldn't be visiting our site if you could fill out a simple mortgage application and get a great loan check cut the same day. But Trustin Mortgage, LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four primary steps involved in obtaining a mortgage loan.
Step one: determine how much you can borrow
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? 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. 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 step is where Trustin Mortgage, LLC can start to save you money. You will supply information on your current job, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We pull your credit score and report. After we've finished reviewing the provided information, we'll provide you with a pre-qualificaiton letter. Handle it with care — it can be a great tool for buying your new home! Your REALTOR® will use your 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 deciding on your new home, we are finding the loan that best fits your needs.
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. It's very easy, and you can do it online, right here on our site. When the time is right, we'll order the appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will coordinate to designate a title company to handle the funding of your loan. We'll coordinate with this company to make sure the papers your lender requires are in order, and you will probably}likely sign all these papers at their officeWe coordinate with this company to set your closing date. Since you won't have to worry about these details, you can concentrate on moving, painting, new carpet, and the details involved in moving into a new house.
You've answered some few questions, provided detailed information, applied , and before you know it, you're moving in! We take care of the loan details so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Trustin Mortgage, LLC at (302) 765-8089. It's our job to answer lending questions, so we're happy to help!