The Loan Process: an Overview

No doubt, a lot involved when you get a mortgage loan. You would not be looking up loan information if you could get a mortgage loan in one day by filling out a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

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

Step one: Decide how much you can afford

A couple of factors determine this amount. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? 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. 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 step is where Hawk Mortgage Group will begin saving you money. You will give us details on your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We run your credit score and report. After we have reviewed all this information we will provide a letter of pre-qualification. Handle it with care — it is a great tool for buying your new home! Your 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 looking for your new house with your agent, we find the best program for you.

Step three: apply for your loan

Once you have made an offer and the sellers have accepted, it's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our website. When the time is right, we'll order an appraisal of your new home.

Step four: funding

Your real estate agent and the seller's will work together to find an escrow/title company to handle the funding of your loan. We'll work with this company to make sure all the papers your lender requires are avaiailable, and you will probably}likely sign all these papers at this company's officeWe do all the work to work with with the title company to set your date to close. Since you don't have to coordinate this process, you can concentrate on moving logistics, paint colors, carpet, and the details involved in moving into your new house.

You've answered some few questions, given us detailed information, applied online, and Before you know it, you'll be moving in! Hawk Mortgage Group is in the business of loans; you're not — so take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Hawk Mortgage Group at (443) 619-7900. It's our job to answer lending questions, so we're happy to help!

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