How the Loan Process Works
There's a lot involved when you get a mortgage. You wouldn't be visiting our site if it were possible to complete a simple loan app and receive a great loan funded the same day. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
There are four important steps involved in obtaining a mortgage loan.
Step one: Decide on your maximum loan amount
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. 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 Brimor National Mortgage can really save you money. You will provide info about your current job, 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 this information, we'll give you a pre-qualificaiton letter. Handle it with care — it can be a useful 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 looking for your new home with your agent, we find the best program for you.
Step three: apply now! We make it easy
Once you have made an offer and it's been accepted, you should apply for the loan. Applying for your loan could not get much easier; you can apply right here on our site. When the time is right, we will order the appraisal of your new home.
Step four: funding
Your real estate agent and the seller's will work together to decide on an escrow/title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to make sure all the papers your lender will need are avaiailable, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company on your date of closing. Because you will not have to coordinate this process, you can think about the move, paint colors, carpet, and the fun parts of moving into a new house.
You've answered a few questions, provided lots of information, applied , and Before you know it, you're moving in! We take care of all the loan details so you can spend your time finding the new home that's right for you.
Have questions about the loan process? Call Brimor National Mortgage at 949-544-4908. It's our job to answer lending questions, so we're happy to help!