About the Loan Process
Are you looking for a mortgage? We can help! Give us a call today at 916-731-4405. Ready to begin? Apply Online Now
There's quite a lot involved in order to get a mortgage loan. You would not be looking up loan information if you could get a mortgage loan in one day by filling out a simple application. But Evans Mortgage Company does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage 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? 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 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. 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 info on your current job, your assets, and your residence history. You'll give us your employment, asset, and residence history information. We will get your credit report and score (only after you give your permission, of course). We'll go over all this info and will give you a pre-qualification letter. Handle it with care — it is a great tool when you make your offer! Your real estate agent will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're looking for a new house with your real estate agent, we find the best program for you.
Once you have made the offer and the sellers accept it, you should apply for the loan. It's very easy, and you can do it online, right here on our website. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.
Step four: funding
Your real estate agent and the seller's will work together to designate a title company to handle the funding of your loan once it has been approved. We'll work with this company to make sure all the papers your lender will need are in order, and you'll probably}likely sign all these papers at this company's officeWe work with with the title company to set your date to close. Because you won't need to worry with this coordination, you can concentrate on moving, painting, carpet, and the fun parts of moving into your new house.
You've answered some few questions, provided detailed information, applied , and Before you know it, you'll be moving! We do the legwork so you can focus on finding your new home.
Have questions about the loan process? Call Evans Mortgage Company at 916-731-4405. We answer questions about the loan process every day.