About the Loan Process
Make no mistake, there's a lot involved when you get a mortgage loan. You wouldn't be looking up loan information if you could get a mortgage loan in a single day by filling out a simple application. But Washingtonian Mortgage, LLC does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a home loan involves four major milestones.
Step one: Decide on your maximum loan amount
A couple of factors determine this amount. How much of a monthly payment can you afford? 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. 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: complete a pre-qualification
This is where the process really begins and Washingtonian Mortgage, LLC can really save you money. You will supply information on your current job, assets, and your residence history. You'll supply your employment, asset, and residence history information. We will pull get your credit report and score (only after you give your permission, of course). After we've finished reviewing your information, we'll provide a pre-qualificaiton letter. With this letter, your real estate agent will negotiate the best deal for your new home. While you're picking out the home that's right for you, we are looking for the best loan program for you.
Step three: apply now! We make it easy
Once you've made the offer and it's been accepted, you should complete the loan application. It couldn't be easier, and you can do it online, right here on our website. When the time is right, we'll order the appraisal of your new home.
Step four: your loan is funded
Your real estate agent and the seller's will coordinate to designate an escrow/title company to take care of the funding of your loan. We'll coordinate with this company to make sure the papers your lender needs are avaiailable, and you'll probably}likely sign everything at their officeWe coordinate with the title company to set your date to close. Because you don't need to worry about these details, you get to concentrate on the move, painting, carpet, and the details involved in getting your new house.
You've answered some few questions, given us detailed information, applied , and Before you know it, you'll be moving! Washingtonian Mortgage, LLC is a mortgage specialist; you're not — so we take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call Washingtonian Mortgage, LLC at 410-451-2755. It's our job to answer lending questions, so we're happy to help!