How the Loan Process Works
No doubt, a lot involved when you get a mortgage. You wouldn't be visiting our site if you could fill out a one-page application and get an excellent loan check cut the same day. But Not Your Average Lender does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four primary steps involved in getting a loan.
Step one: Decide on your maximum loan amount
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. 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: complete a pre-qualification
This is where Not Your Average Lender can start to save you money. You will supply information about your current job, your assets, and residence history. You'll provide your employment, asset, and residence history information. We run your credit score and report. After we've reviewed the provided information, we'll provide you with a pre-qualificaiton 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 shopping for your new house with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
Once you've made the offer and it's been accepted, it's time to complete the loan application. Applying for your loan could not get much easier; you can apply any time right here on our site. At the end of this step, we will order the appraisal of your new home.
Step four: funding
Your REALTOR® and the seller's will coordinate to decide on a title company to handle the funding of your loan. We'll work with this company to make sure the papers your lender will require are in order, and you'll probably}likely sign everything at their officeWe do all the work to work with with this company on your date to close. Because you don't need to worry about these details, you get to think about moving, if you're going to repaint, new carpet, and all the details of getting your new house.
You've answered some few questions, provided lots of information, applied online, and the next thing you know, you're deciding when to move in! We do the legwork so you can spend your time finding the new home that's right for you.
Have questions about the loan process? Call Not Your Average Lender at 9722039033. We answer questions about the loan process every day.