The Mortgage Loan Process: an Overview
Searching for a loan? We’d be thrilled to answer your questions about our mortgage offerings! Call us at (303) 779-0591. Want to get started? Apply Here.
There’s little question ; getting a mortgage is a complicated process. You wouldn’t be visiting our website if you could fill out a simple loan app and get a great loan check cut the same day. But Mortgage Maestro Group does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major steps.
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? You can get a good idea of your preferred payment amount using the calculators on our website. We’ll also help you through different scenarios by asking a few simple 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: Apply now, apply for pre-approval
This step is where Mortgage Maestro Group can start to save you money. You will provide info about your employment, assets, and your residence history. You’ll give us your employment, asset, and residence history information. We will get your credit report and score (with your permission. After we have reviewed all this info we provide a letter of pre-approval. Handle it with care — it is a useful tool when you make your offer! Your agent should use your pre-approval to make the best offer on the home you choose. While you’re shopping for your new home, we are researching the loan that best fits your needs.
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Step three: Shop for home
After you’ve made the offer and the sellers accept it, it’s time to apply for the loan. Applying for your loan could not be much easier; you can apply right here on our site. After the offer has been accepted and you have submitted your loan application, we’ll order a professional appraisal on the home.
Step four: Close on home, then move in
The real estate agents will find a title company to handle the “funding” and closing of the sale. We’ll coordinate with this company to ensure all the papers your lender requires are in order, and you’ll probably}likely sign all these papers at their office. We work with with this company on your date of closing. Because you will not have to coordinate this process, you get to concentrate on the move, painting, new carpet, and all the details of moving into a new home.
You’ve answered a few questions, given us lots of information, applied online, and the next thing you know, you’re moving in! We take care of the legwork so you can focus on finding the new home that’s right for you.