About the Loan Process
There's little doubt that getting a mortgage loan is a complex process. You would not be researching mortgage loans if you could get a loan in a single day by filling out a simple application. 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 primary steps involved in obtaining a mortgage loan.
Step one: determine how much you can borrow
This is a function of a couple things. What kind of monthly payment are you looking for? 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. 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: complete a pre-qualification
This is where the process really begins and Pinnacle Lending Group, Inc. can really save you money. You will give us details about your employment, assets, and your residence history. You'll supply your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've reviewed this information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new house with your REALTOR™, we find the best program for you.
Step three: apply now! We make it easy
Once you have 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. At the end of this step, we'll order an appraisal of your new home.
Step four: your loan is funded
The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll coordinate with this company to make sure the papers your lender needs are in order, and you will probably}likely sign all these papers at their officeWe do all the work to coordinate with the title company on your date to close. Since you won't need to coordinate this process, you get to think about the move, if you're going to repaint, new carpet, and the details involved in moving into your new house.
You've answered a few questions, given us detailed information, applied , and Before you know it, you're moving! 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 Pinnacle Lending Group, Inc. at 7027302085. It's our job to answer lending questions, so we're happy to help!