About the Mortgage Loan Process
There's a lot involved in oder to get a mortgage. You wouldn't be visiting our site if you could fill out a one-page loan app and get an excellent loan funded the same day. But Financial Edge Mortgage Corp. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four important steps involved in getting a mortgage loan.
Step one: determine how much you can borrow
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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. 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 is where Financial Edge Mortgage Corp. will begin to save you money. You will provide details on your current job, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We run your credit score and report. After we've reviewed your information, we'll provide a pre-qualificaiton letter. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new house with your agent, we find the best program for you.
After you've signed an offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.
Step four: funding
The real estate agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to make sure the papers your lender will require are in order, and you will probably}likely sign everything at their officeWe coordinate with the title company to set your date to close. Since you will not need to worry about these details, you get to concentrate on the move, if you're going to repaint, carpet, and the fun parts of getting a new house.
You've answered a few questions, given us lots of information, applied online, and Before you know it, you'll be moving in! Financial Edge Mortgage Corp. is a mortgage specialist; you're not — so take care of the details. Makes sense, doesn't it??
Have questions about the loan process? Call Financial Edge Mortgage Corp. at 425-508-9988. It's our job to answer lending questions, so we're happy to help!