The Four Steps of the Mortgage Loan Process:
||Shopping for a mortgage loan? Joe Wagner will be glad to help! Give Joe Wagner a call at 612-327-4544. Ready to get started? Apply Here.
There can be no doubt, getting a mortgage is a complicated process. You wouldn't be visiting our website if it were possible to complete a simple loan app and receive an excellent loan check cut the same day. But American Nationwide Mortgage Company. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major steps.
Step one: Decide how much you can afford
This is a function of a couple things. 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? You can get a good idea of your preferred payment amount 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 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: pre-qualify for your loan
This step is where American Nationwide Mortgage Company will begin saving you money. You will supply details on your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We pull your credit score and report. After we've finished reviewing this information, we'll give you a pre-qualification letter. Your real estate agent 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 home with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you've made an offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can do it online, right here on our site. Finally, we'll order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to decide on an escrow/title company to handle the funding of your loan. We'll work with this company to ensure the papers your lender requires are available and you will likely sign all these papers at their office. We do all the work to coordinate with the title company on your date of closing. Since you won't need to worry about these details, you can think about moving logistics, painting, carpet, and the details involved in getting your new home.
You've answered some few questions, given us a lot of information, applied online, and before you know it, you are 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? Give Joe Wagner a call at 612-327-4544. It's his job to answer lending questions, so he is happy to help! We know you're busy, so feel free to complete the form below to be contacted by Joe Wagner.