About the Mortgage Loan Process
Make no mistake, there's quite a lot to do in oder to get a mortgage loan. You would not be looking up loan information if you could get a mortgage loan in a single day by filling out a simple application. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
Getting a loan involves four major steps.
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? You can get a good idea of your preferred payment abount using the calculators on our website. 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 is where the rubber meets the road and you save the most money. You will give us details about your current job, your assets, and residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission. After we have gone over this information we 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.
Once you have made an offer and the sellers have accepted, it's time to apply for the loan. It's very easy, and you can do it online, right here on our site. When the time is right, we will order the appraisal of your new home.
Step four: funding
The agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to make sure the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company to set your date of closing. Because you don't need to worry with this coordination, you get to think about moving logistics, paint colors, new carpet, and all the details of moving into your new house.
You've answered a few questions, provided detailed information, applied , and Before you know it, you'll be moving! Front Range Lending is a mortgage specialist; you're not — so we do the work. Doesn't that make sense?
Have questions about the loan process? Call Front Range Lending at 7202537070. It's our job to answer lending questions, so we're happy to help!