The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps

There's no question that getting a mortgage loan is a complicated process. You would not be looking up loan information if it were possible to get a loan in one day by filling out a simple application. We do most of 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 mortgage loan involves four major milestones.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. How much of a monthly payment can you afford? 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 Halpern & Associates Mortgage Corporation will begin saving you money. You will give us 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 have gone over this information we will give you a pre-qualification letter. Be careful with this letter — it can be a great tool when you make your offer! Your REALTOR® will likely use the pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for a new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've signed 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 website. At the end of this step, we'll order the appraisal of your new home.

Step four: funding

Your REALTOR® and the seller's will coordinate to designate an escrow/title company to handle the funding of your loan. We'll work with this company to ensure all the papers your lender will need are in order, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with this company to set your closing date. Since you don't need to worry with this coordination, you can concentrate on moving, painting, carpet, and all the details of moving into a new house.

You've answered a few questions, provided detailed information, applied , and before you know it, you are deciding when to move in! Halpern & Associates Mortgage Corporation is in the business of loans; you're not — so we do the work. Makes sense, doesn't it??

Have questions about the loan process? Call Halpern & Associates Mortgage Corporation at (305) 535-2230. We answer questions about the loan process every day.

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