The Four Steps of the Loan Process:The Loan Process: Four Steps
No doubt, quite a lot involved in oder to get a mortgage. You wouldn't be visiting our site if you could complete a simple loan application and get the best 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.
There are four main steps involved in getting a 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. 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: pre-qualify for your loan
This is where the rubber meets the road and Hawk Mortgage Group can really save you money. You will give us information about your current job, assets, and residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). After we've reviewed this information, we'll provide you with a pre-qualificaiton letter. Your real estate agent will use the pre-qual (as they may call it) in order to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're picking out the home that's right for you, we are researching the loan that best fits your needs.
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. It couldn't be easier, and you can apply online, right here on our site. At the end of this step, we'll order an appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will coordinate to find an escrow/title company to handle the funding of your loan once it has been approved. We'll work with this company to make sure the papers your lender requires are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with the title company to set your date to close. Because you don't need to worry about these details, you can think about moving, painting, carpet, and the fun parts of getting your new home.
You've answered a few questions, provided lots of information, applied , and before you know it, you're moving in! We take care of the loan details so you can focus on finding your new home.
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!