How the Loan Process Works
Make no mistake, there's a lot involved in oder to get a mortgage. You wouldn't be here on our website if it were possible to fill out a one-page mortgage application and receive a great loan check cut 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.
There are four primary steps involved in obtaining 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? 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 can start saving you money. You will provide information on your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We pull your credit score and report. When we review all this information we will provide a pre-qualification letter. 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 looking for your new house with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have made an offer and the sellers have accepted, you should apply for the loan. Applying for a loan could not get much easier; you can apply from the comfort of your home right here on our site. When the time is right, we'll order an appraisal of your new home.
Step four: funding
The agents will find an escrow/title company to handle the "funding" and closing. We'll work with this company to make sure the papers your lender requires are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to work with with this company on your date of closing. Since you don't need to coordinate this process, you get to concentrate on moving logistics, if you're going to repaint, new carpet, and the details involved in moving into your new home.
You've answered some few questions, given us detailed information, applied online, and Before you know it, you're moving in! Halpern & Associates Mortgage Corporation is in the business of loans; you're not — so we take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call Halpern & Associates Mortgage Corporation at (305) 535-2230. It's our job to answer lending questions, so we're happy to help!