How the Loan Process Works

 

In the market for a mortgage loan? We can assist you! Call us at 888-376-3762. Want to get started? Apply Here.

There's a lot involved in order to get a mortgage loan. You wouldn't be visiting our site if it were possible to complete a simple application and get the best loan check cut in one day. But Funding Resources Mortgage Corp does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major steps.

 

Step one: Decide how much you can afford

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? 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 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 Funding Resources Mortgage Corp will start saving you money. You will supply information about your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We get your permission to run your credit score and report. After we've finished reviewing your information, we'll provide a pre-qualification letter. Handle it with care — it can be a great tool for buying your new home! With this letter, your real estate agent will negotiate the best deal for your new home. While you're picking out the home that's right for you, we are looking for the best loan for you.

 

Step three: apply for your loan

Once you have signed the offer and the sellers accept it, you should apply for the loan. Applying for a loan could not be much easier; you can apply online right here on our site. When the time is right, we'll order the appraisal of your new home.

 

Step four: your loan is funded

 
The agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to make sure all the papers your lender will need are available, and you'll probably}likely sign all these papers at this company's officeWe do all the work to coordinate with the title company on your date of closing. Because you will not have to worry about these details, you can concentrate on the move, painting, new carpet, and all the details of moving into a new house.

You've answered a few questions, given us detailed information, applied online, and Before you know it, you'll be moving in! Funding Resources 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 Funding Resources Mortgage Corp at 888-376-3762. It's our job to answer lending questions, so we're happy to help!