The Four Steps of the Mortgage Loan Process:The Loan Mortgage Process: Four Steps

No doubt, a lot to do in oder to get a mortgage. You would not be researching mortgage loans if it were possible to get a mortgage 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 getting a loan.

Step one: Decide how much you can afford

A couple of factors determine this amount. 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. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: pre-qualify for your loan

This step is where Triumph Mortgage Inc can start to save you money. You will supply information on your current job, 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 reviewed your information, we'll give you a pre-qualificaiton letter. Your real estate agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're shopping for your new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've signed the offer and the sellers have accepted, it's time to apply for the loan. Applying for your loan couldn't be much easier; you can apply any time right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to decide on a title company to take care of the funding of your loan once it's approved. We'll coordinate with this company to ensure all the papers your lender will need are in order, and you'll probably}likely sign all these papers at this company's officeWe coordinate with the title company to set your closing date. Since you won't need to worry with this coordination, you get to think about the move, painting, new carpet, and the fun parts of getting your new home.

You've answered a few questions, provided detailed information, applied online, and Before you know it, you'll be moving! We take care of the loan details so you can focus on finding your new home.

Have questions about the loan process? Call Triumph Mortgage Inc at 8327302000. We answer questions about the loan process every day.