The Loan Process: an Overview

There's little question that getting a mortgage is a complicated process. You wouldn't be researching mortgage loans if it were possible to get a mortgage loan in a single day with a simple application. But Not Your Average Lender does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home 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? 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. 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: complete a pre-qualification

This is where Not Your Average Lender can start to save you money. You will give us info about your current job, your assets, and residence history. You'll give us your employment, asset, and residence history information. We run 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 REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're deciding on your new home, we are looking for the best loan program for you.

Step three: apply now! We make it easy

Once you have signed an offer and the sellers accept it, you should apply for the loan. Applying for your loan could not be much easier; you can apply from the comfort of your home right here on our site. Finally, we will order an appraisal of your new home.

Step four: your loan is funded

The 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 make sure all the papers your lender requires are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company to set your date to close. Since you won't have to worry with this coordination, you can concentrate on moving logistics, if you're going to repaint, new carpet, and all the details of getting a new house.

You've answered some few questions, provided lots of information, applied , and the next thing you know, you are moving in! We do the mortgage legwork so you can spend your time finding your new home.

Have questions about the loan process? Call Not Your Average Lender at 9722039033. It's our job to answer lending questions, so we're happy to help!