The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps

Make no mistake, there's quite a lot to do when you get a mortgage loan. You would not be researching mortgage loans if it were possible to get a loan in one day with a simple application. But The Reen Team at Direct Mortgage Funding does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four important steps involved in getting a mortgage loan.

Step one: Decide on your maximum loan amount

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? 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 the process really begins and The Reen Team at Direct Mortgage Funding can really save you money. You will supply information on your current job, assets, and residence history. You'll give us your employment, asset, and residence history information. We get your permission to pull your credit score and report. After we've reviewed your information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out the home that's right for you, we are looking for the loan that best fits your needs.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, it's time to complete the loan application. Applying for a loan could not be much easier; you can apply online right here on our site. After the offer has been accepted and you have applied for your loan, we'll order a professional appraisal on the home.

Step four: funding

The agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to make sure all the papers your lender will need are in order, and you will probably}likely sign everything at their officeWe do all the work to work with with the title company on your date to close. Because you don't have to worry about these details, you can concentrate on moving logistics, paint colors, new carpet, and all the details of moving into a new home.

You've answered some few questions, provided lots of information, applied , and Before you know it, you're moving! The Reen Team at Direct Mortgage Funding is a mortgage specialist; you're not — so we take care of the details. Doesn't that make sense?

Have questions about the loan process? Call The Reen Team at Direct Mortgage Funding at 4086261879. We answer questions about the loan process every day.

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