The Loan Process: an Overview

There is little doubt that getting a mortgage loan is a complex process. You wouldn't be here on our website if it were possible to complete a one-page loan app and receive an excellent loan check cut the same day. But Triumph Mortgage Inc does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in getting a loan.

Step one: Decide on your maximum loan amount

This is a function of a couple things. How much of a monthly payment can you afford? 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. 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 provide details about your employment, your assets, and your residence history. You'll provide your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we've finished reviewing the provided information, we'll provide a pre-qualificaiton letter. Handle it with care — it can be a useful tool when you make your offer! 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 picking out your new home, we are finding the loan that best fits your needs.

Step three: apply now! We make it easy

Once you've made the offer and the sellers have accepted, you should complete the loan application. It couldn't be easier, and you can do it online, right here on our website. After the seller has accepted your offer and you have applied for your loan, we will order a professional appraisal on the home.

Step four: funding

Your real estate agent and the seller's will work together to designate an escrow/title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to ensure all the papers your lender needs are avaiailable, and you will probably}likely sign all these papers at this company's officeWe work with with the title company on your date of closing. Since you will not have to worry with this coordination, you get to think about moving, if you're going to repaint, new carpet, and all the details of moving into a new house.

You've answered a few questions, provided detailed information, applied , and Before you know it, you're moving in! Triumph Mortgage Inc 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 Triumph Mortgage Inc at 8327302000. It's our job to answer lending questions, so we're happy to help!