The Loan Process: an Overview
No doubt, a lot involved in oder to get a mortgage. You wouldn't be visiting our site if it were possible to complete a simple loan application and get a great loan funded 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 important steps involved in obtaining a mortgage loan.
Step one: determine how much you can borrow
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? You can get a good idea of your preferred payment abount 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 quewstions. 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 step is where Triumph Mortgage Inc will begin to save you money. You will give us details on your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will pull get your credit report and score (with your permission, of course). After we have gone over all this information we will provide a letter of pre-qualification. With this letter, your REALTOR® will negotiate the best deal for your new home. While you're picking out your new home, we are looking for the loan that best fits your needs.
After you've made an offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. When the time is right, we'll order an appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will work together 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 make sure all the papers your lender will need are in order, and you'll probably}likely sign everything at their officeWe work with with this company to set your closing date. Since you will not have to worry with this coordination, you can concentrate on the move, paint colors, carpet, and all the details of moving into a new home.
You've answered a few questions, provided lots of information, applied online, and Before you know it, you'll be moving! We take care of the mortgage legwork so you can focus on finding your new home.
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!