The Loan Process: an Overview
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There's quite a lot to do when you get a mortgage loan. You wouldn't be looking up loan information if you could get a mortgage loan in one day by filling out a simple application. But Creative Financial 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 how much you can afford
A couple of factors determine this amount. 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. We'll also help you through different scenarios by asking a few simple questions. 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 rubber meets the road and Creative Financial can really save you money. You will give us information on your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We pull your credit score and report. After we've reviewed your information, we'll give you a pre-qualification letter. Your real estate agent will likely use your pre-qual (as they may call it) in order to make the best offer on the home you choose. While you're shopping for a new home with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
After you've signed an offer and the sellers have accepted, you should apply for the loan. It's very easy, and you can do it 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: your loan is funded
The agents will find a title company to handle the "funding" and closing of the sale. We'll work with this company to make sure all the papers your lender will need are in order, and you will probably}likely sign all these papers at this company's officeWe coordinate with this company to set your closing date. Since you won't have to coordinate this process, you get to think about moving, painting, carpet, and the fun parts of moving into your new house.
You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving! We do the legwork so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Creative Financial at (808) 891-9292. Creative Financial answers loan process questions every day.
're in the business of mortgage loans -- so we do most of the work. Doesn't that make sense?