The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps
There can be no doubt that getting a mortgage loan is a complex process. You wouldn't be here on our website if it were possible to fill out a simple loan app and receive an excellent 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 loan involves four major steps.
Step one: determine how much you can borrow
This is a function of a couple things. 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. 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 C2 Financial Corporation can start to save you money. You will provide details on your employment, assets, and your residence history. You'll give us your employment, asset, and residence history information. We run your credit score and report. After we've finished reviewing your information, we'll provide you with a pre-qualificaiton letter. Be careful with this letter — it can be a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're shopping for a new home with your agent, we find the best program for you.
Step three: apply now! We make it easy
After you've made an offer and the sellers have accepted, 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 applied for your loan, we'll order a professional appraisal on the home.
Step four: your loan is funded
The agents will find an escrow/title company to handle the "funding" of the loan and closing. We'll work with this company to make sure the papers your lender will need are in order, and you will probably}likely sign everything at this company's officeWe coordinate with this company on your date of closing. Because you don't need to worry about these details, you get to think about the move, painting, carpet, and the details involved in getting a new home.
You've answered a few questions, provided detailed information, applied online, and Before you know it, you're moving! We take care of the legwork so you can spend your time finding the new home that's right for you.
Have questions about the loan process? Call C2 Financial Corporation at (727) 478-2797. It's our job to answer lending questions, so we're happy to help!