The Loan Process: an Overview

	Shopping for a mortgage loan? We'd be thrilled to talk about your mortgage needs! Give us a call today at (800) 838-3049. Want to get started? Apply Online Now.

There can be no question ; getting a mortgage loan is a complicated process. You wouldn't be researching mortgage loans if you could get a loan in one day by filling out a simple application. But Signature Financial Solutions, Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a loan involves four major steps.

Step one: determine how much you can borrow

A couple of factors determine this amount. How much of a monthly payment can you afford? 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. We'll also help you through different scenarios by asking a few simple 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 is where the rubber meets the road and you save the most money. You will supply information about your employment, assets, and residence history. You'll give us your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. After we've reviewed this information, we'll give you a pre-qualificaiton letter. Handle it with care — it can be a useful tool for buying your new home! Your REALTOR® will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're picking out your new home, we are researching the loan that best fits your needs.

Step three: apply for your loan

After you've signed an offer and the sellers accept it, you should apply for the loan. It couldn't be easier, and you can do it online, 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 real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate 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 coordinate with this company to set your closing date. Because you will not have to worry about these details, you get to concentrate on moving logistics, if you're going to repaint, carpet, and the details involved in getting a new house.

You've answered a few questions, provided lots of information, applied online, and Before you know it, you'll be moving! Signature Financial Solutions, Inc. is a mortgage specialist; you're not — so take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Signature Financial Solutions, Inc. at (800) 838-3049. Signature Financial Solutions, Inc. answers loan process questions every day.