How the Mortgage Loan Process Works

There's quite a lot involved in oder to get a mortgage. You wouldn't be visiting our website if you could fill out a one-page loan application and receive the best loan funded 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.

There are four main steps involved in getting a loan.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. 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? 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. 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 Greystone Loans, Inc. can begin to save you money. You will provide details about your employment, your assets, and residence history. You'll provide information on your employment, asset, and residence history. We will get your credit report and score (only after you give your permission. After we've reviewed your information, we'll provide a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool for buying your new home! 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 looking for a new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made the offer and the sellers accept it, you should apply for the loan. Applying for a loan couldn't get much easier; you can apply right here on our site. When the time is right, we will order an appraisal of your new home.

Step four: funding

The real estate agents will find an escrow/title company to handle the "funding" of the loan and closing of the sale. We'll work with this company to ensure all the papers your lender requires are avaiailable, and you'll probably}likely sign everything at this company's officeWe do all the work to work with with the title company to set your closing date. Since you don't have to coordinate this process, you can think about moving logistics, paint colors, carpet, and the details involved in moving into your new house.

You've answered a few questions, given us detailed information, applied online, and Before you know it, you're moving! We take care of the loan details so you can spend your time finding the new home that's right for you.

Have questions about the loan process? Call Greystone Loans, Inc. at 9094671090. It's our job to answer lending questions, so we're happy to help!