The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps
There is no question that getting a mortgage loan is a complex process. You wouldn't be visiting our website if you could complete a one-page application and receive a great loan funded the same day. But Hawk Mortgage Group does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a loan involves four major steps.
Step one: determine how much you can borrow
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? 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 step is where Hawk Mortgage Group can start saving you money. You will give us info on your employment, assets, and residence history. You'll provide information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission. We will review all this information then give you a letter of pre-qualification. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new house with your REALTOR™, we find the best program for you.
Once you have made the offer and the sellers have accepted, you should apply for the loan. Applying for your loan couldn't be much easier; you can apply from the comfort of your home right here on our site. Finally, we will order the appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to ensure all the papers your lender needs are avaiailable, and you'll probably}likely sign everything at this company's officeWe coordinate with this company to set your date to close. Since you won't need to coordinate this process, you can concentrate on moving logistics, painting, new carpet, and the details involved in moving into your new home.
You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving! We take care of the loan details so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Hawk Mortgage Group at (443) 619-7900. Hawk Mortgage Group answers loan process questions every day.