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Buying a home may be the most exciting, confusing and stressful financial transaction you ever undertake. Even if you have done it several times you can still find the process complicated and
intimidating, particularly when it comes to getting a mortgage loan. Countless loan documents, unfamiliar terminology and uncertainty serve to temper the joy of
buying a new home. As soon as the sales contract is signed, obtaining the financing for the purchase becomes paramount for all but a very few buyers. If you understand the steps required to qualify for a mortgage loan, however, much of the stress can be avoided. The following explanation of the loan application process is intended to help you through the complexities of obtaining a mortgage loan.
1. Find out how much you can borrow
The first step in buying a house is determining your budget. This calculator steps you through the process of finding out how much you can borrow. Fill in the entry fields and click on the "View Report" button to see a complete amortization schedule of your mortgage payments.
2. Apply for a loan
Home loans are available from several types of lenders. Different lenders may quote you different prices. As a Certified Mortgage Planning Specialist, I will work to make sure you’re getting the best price. My access to several lenders can mean a wider selection of loan products and terms from which you can choose.
3. Select the right loan program
Once you have an idea of what Loan Type you want I can begin searching for the best
product and rate. Just call me at 407-
4. Begin loan processing
I will assist you in collecting the pertinent documentation needed to fund your loan, a Good Faith Estimate, a Federal Truth in Lending and a Mortgage Program Disclosure, and will also contact an appraiser to perform an analysis on your property.
5. Close your loan
