The Mortgage Loan Process: an Overview
There is no question that getting a mortgage is a complicated process. You wouldn't be visiting our website if you could fill out a simple mortgage application and receive a great loan funded the same day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a home loan involves four major steps.
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. 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 step is where Trustin Mortgage, LLC can start saving you money. You will give us details on your employment, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We get your permission to pull your credit score and report. We will review this information and provide a letter of pre-qualification. Handle it with care — it is a useful tool for buying your new home! Your real estate agent will likely 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 shopping for your new home with your real estate agent, we find the best program for you.
Step three: apply now! We make it easy
Once you've made the offer and it's been accepted, you should complete the loan application. Applying for a loan could not get much easier; you can apply from the comfort of your home right here on our site. After the seller has accepted your offer and you have submitted your loan application, we will order the professional appraisal on the home.
Step four: your loan is funded
The agents will find a title company to handle the "funding" of the loan and closing. We'll coordinate with this company to make sure all the papers your lender requires are in order, and you will probably}likely sign everything at this company's officeWe work with with the title company on your closing date. Because you don't have to worry about these details, you get to think about moving, painting, carpet, and all the details of getting your new house.
You've answered some few questions, provided detailed information, applied , and the next thing you know, you're deciding when to move in! Trustin Mortgage, LLC is in the business of loans; you're not — so we take care of the details. Makes sense, doesn't it??
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!