The Home Loan Process

There’s feeling that getting a home loan mortgage Santa Clarita is a complex process. You wouldn’t be here on our website if it were possible to complete a one-page loan application and get an excellent loan funded the same day. We do the heavy lifting for you, so you can concentrate on what’s important — preparing to move into your new home or salving money.

Home Loan Mortgage Santa Clarita

Step one: determine how much you can borrow

This is a function of a couple things. What kind of monthly mortgage payment are you looking for? 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 amount 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 questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Exercise caution when you estimate what sort of mortgage payments you can afford. A mortgage is a very long-term financial proposition. Meeting your payment obligations will rely on how much money you will earn over a number of years. Keep in mind the possibility that your income may stay constant or even fall in the future, when you consider mortgage payments.

Step two: pre-qualify for your loan

This is where the process really begins and Mortgage Consumer can really save you money. You will provide details on your current job, assets, and residence history. You’ll provide your employment, asset, and residence history information. We pull your credit score and report. After we have gone over this info we provide a letter of pre-qualification. Be careful with this letter — it can be a great tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you’re shopping for the home that’s right for you, we are looking for the best loan program for you.

Step three: apply for your loan

If you have lost a prior home to foreclosure, this does not mean that you are out of home owning altogether. You should be able to get a government-backed mortgage through Fannie Mae, Freddie Mac and the FHA, in as little as three years after your previous home has foreclosed.

Once you have made an offer and the sellers have accepted, you should complete the loan application. It’s very easy, and you can do it online, right here on our website. When the time is right, we will order an appraisal of your new home.

Step four: funding

Talk to different loan officers before you sign anything. Make sure to read over the lending contract very carefully to assure that you are not getting into a mortgage that has hidden charges, and that the terms of the loan are just as you and the lender had agreed to.

Your REALTOR® and the seller’s will work together to find an escrow/title company to take care of the funding of your loan. We’ll coordinate with this company to ensure the papers your lender needs are available, and you’ll probably}likely sign everything at this company’s officeWe work with with this company to set your date of closing. Since you won’t have to coordinate this process, you get to think about the move, if you’re going to repaint, new carpet, and the fun parts of getting a new home.

You’ve answered a few questions, provided detailed information, applied , and the next thing you know, you’re moving in! We do the legwork so you can spend your time finding the new home that’s right for you.

Have questions about the loan process? Call us  at 877-244-9190. It’s our job to answer home loan lending questions, so we’re happy to help!