How the Loan Process Works
Make no mistake, 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 one-page mortgage application and get the best loan check cut in one 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 important steps involved in obtaining a loan.
Step one: determine how much you can borrow
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? Use the calculators on our website to determine your monthly payment amount. 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 is where the process really begins and MS Investment Mortgage Company can really save you money. You will supply details about your employment, your assets, and your residence history. You'll supply information on your employment, asset, and residence history. We pull your credit score and report. After we've finished reviewing your information, we'll provide you with a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're deciding on your new home, we're busy finding the loan that's right for your unique situation.
Step three: apply now! We make it easy
Once you have made an offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. Finally, we will order an appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will coordinate to find a title company to handle the funding of your loan once it has been approved. 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 work with with the title company on your date of closing. Because you will not have to worry about these details, you get to think about moving, painting, new carpet, and the fun parts of moving into your new home.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you'll be moving! MS Investment Mortgage Company is in the business of loans; you're not — so we do the work. Makes sense, doesn't it??