The Mortgage Loan Process: An Overview
There's little doubt that getting a mortgage is a complex process. You wouldn't be visiting our site if you could complete a simple loan app and receive the best loan check cut in one day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.
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? You can get a good idea of your preferred payment amount 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 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 Pinnacle Capital Mortgage will begin to save you money. You will supply details on your employment, your assets, and residence history. You'll supply your employment, asset, and residence history information. We pull your credit score and report. After we've reviewed the provided information, we'll provide you with a pre-qualification letter. Handle it with care — it can be a great tool for buying your new home! Your Realtor® will likely use your pre-qual (as they may call it) to make the best offer on the home you choose. While you're picking out the home that's right for you, we're busy finding the loan that's right for you.
Once you have made the offer and it's been accepted, it's time to apply for the loan. Applying for your loan couldn't get much easier; you can apply any time right here on our site. At the end of this step, we will order the appraisal of your new home.
Step Four: Your loan is funded
The real estate agents will find a title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to make sure the papers your lender will need are in order, and you'll probably sign all these papers at this company's office. We will coordinate with the title company on your date to close. Because you will not need to coordinate this process, you get to concentrate on the move, if you're going to repaint, carpet, and all the details of getting your new home.
Once you've answered some few questions, given us lots of information, and applied, you'll be ready to move sooner than you think! Pinnacle Capital Mortgage is in the business of loans; you're not — so we do the work. Doesn't that make sense?