The Mortgage Loan Process: an Overview
There's quite a lot to do in oder to get a mortgage. You wouldn't be researching mortgage loans if it were possible to get a loan in a single day with a simple application. But Hawk Mortgage Group does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in obtaining a loan.
Step one: Decide on your maximum loan amount
This is a function of a couple things. 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? 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 step is where Hawk Mortgage Group can start to save you money. You will provide info on your current job, your assets, and your residence history. You'll supply your employment, asset, and residence history information. We will get your credit report and score (with your permission, of course). We will go over all this info then will provide a pre-qualification letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new home with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have signed an offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't be much easier; you can apply online right here on our site. Finally, we'll order an appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will coordinate to designate a title company to take care of the funding of your loan. We'll coordinate with this company to make sure all the papers your lender needs are in order, and you'll probably}likely sign everything at this company's officeWe do all the work to coordinate with this company on your closing date. Because you won't have to worry about these details, you can think about the move, painting, carpet, and the fun parts of moving into a new home.
You've answered some few questions, given us detailed information, applied , and the next thing you know, you're deciding when to move in! Hawk Mortgage Group is a mortgage specialist; you're not — so we do the work. Doesn't that sound nice?
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!