The Loan Process: an Overview
There can be little doubt that getting a mortgage is a complicated process. You wouldn't be visiting our website if it were possible to complete a simple application and receive a great loan funded the same day. But C2 Financial Corporation does the heavy lifting so you can concentrate on your life rather than the mortgage loan.
Getting a mortgage loan involves four major milestones.
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? 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. 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 C2 Financial Corporation will start to save you money. You will provide details about your employment, assets, and residence history. You'll provide your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've finished reviewing this information, we'll provide you with a pre-qualificaiton letter. Your real estate agent will use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're deciding on the home that's right for you, we're busy finding the loan program that's right for you.
Once you have signed the offer and the sellers accept it, it's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our site. After the offer has been accepted and you have submitted your loan application, we'll order the professional appraisal on the home.
Step four: funding
Your REALTOR® and the seller's will work together to designate an escrow/title company to handle the funding of your loan. We'll work with this company to make sure all the papers your lender needs are in order, and you will probably}likely sign all these papers at their officeWe do all the work to work with with the title company on your closing date. Because you will not need to worry about these details, you can concentrate on the move, if you're going to repaint, carpet, and all the details of moving into a new house.
You've answered a few questions, provided detailed information, applied , and before you know it, you are deciding when to move in! C2 Financial Corporation is a mortgage specialist; you're not — so take care of the details. Doesn't that sound nice?
Have questions about the loan process? Call C2 Financial Corporation at (727) 478-2797. We answer questions about the loan process every day.