How the Loan Process Works
There's little question ; getting a mortgage is a complex process. You would not be researching mortgage loans if it were possible to get a mortgage loan in one day by filling out a simple application. But Triumph Mortgage Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
There are four main steps involved in getting a loan.
Step one: Decide on your maximum loan amount
This is a function of a couple things. 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 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 is where the rubber meets the road and Triumph Mortgage Inc can really save you money. You will give us info about your current job, assets, and residence history. You'll give us information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we have reviewed this information we will provide a letter of pre-qualification. Handle it with care — it is a useful tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're deciding on your new home, we're busy finding the loan that's just right for your unique situation.
Step three: apply now! We make it easy
Once you've made 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 right here on our site. At the end of this step, we will order the appraisal of your new home.
Step four: funding
The real estate agents will find a title company to handle the "funding" of the loan and closing. We'll work with this company to make sure all the papers your lender will require are in order, and you will probably}likely sign all these papers at their officeWe do all the work to work with with the title company to set your date of closing. Because you won't have to worry with this coordination, you get to think about moving logistics, painting, new carpet, and the fun parts of getting a new house.
You've answered a few questions, provided detailed information, applied , and before you know it, you're deciding when to move in! We take care of the mortgage legwork so you can focus on finding the new home that's right for you.
Have questions about the loan process? Call Triumph Mortgage Inc at 8327302000. It's our job to answer lending questions, so we're happy to help!